FinanceDublin.com - New rules will encourage Ireland’s FS industry to adopt a proactive approach to digital resilience risk management

The EU’s Digital Operational Resilience Act will introduce new compliance requirements for financial services but any additional costs will be outweighed by the longer-term benefits for the sector in Ireland says EY’s David Spollen. He outlines five areas of current focus for Irish financial services companies preparing to meet the standards and says continuous vigilance, adaptability, and proactive engagement with the new requirements will be essential for companies to beneficially comply.

DORA recognises the growing importance of digital infrastructure and digital services in the financial sector and aims to ensure that firms can withstand and recover from disruptions effectively.

The DORA regulation itself contains detailed information on the requirements which financial entities will be required to comply with from 17 January 2025. However, there are certain areas which are particularly top of mind for firms who are in the planning and preparation stages. In th....

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