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A lot has happened since the 2008 financial crisis and credit crunch, including a significant increase in cloud app adoption in financial services and a rise in cyber attacks targeting those apps.
To keep the financial sector safe and secure, the EU introduced new rules. Initially, these regulations focused on ensuring banks had enough capital to handle financial problems. However, as cyberattacks became a bigger threat, the EU recognised the need for additional measures. This led to the creation of the Digital Operational Resilience Act (DORA), a new set of regulations aimed at addressing the growing cyber risks in the financial sector.
DORA is all about helping banks, insurance companies, and other financial groups stay safe from cyberattacks and keep running smoothly. It encourages these organisations to always be learning and improving their security. DORA applies to all financial entities, like banks and credit rating agencies, and even to the tech companies they depend on.
The Netskope One unified SASE platform is a powerful set of tools that helps these organisations follow DORA’s rules, applying zero trust principles to protect data and defend against cyber threats. And to make things even easier, in our comprehensive guide, we’ve summarised and mapped the 79 pages of DORA to our industry leading platform to save you time.
Our guide shows how Netskope can make your organisation stronger and more prepared for cyber threats. It’s about keeping your operations smooth and your information safe, no matter what.
Let’s break down how Netskope supports your organisation across DORA’s five key pillars:
ICT Risk Management: Nailing the Basics
DORA says that financial companies need to manage risks and keep their information safe.
Think of Netskope as your enforcer here, ensuring DLP and security policies are consistent and followed across all private apps, web, SaaS and public cloud environments… with users also benefiting from real-time coaching to protect data against exposure or breach and stay safe online.
The Netskope NewEdge network provides the reliable backbone you need to deliver access and protection anywhere, offering high availability and top-notch performance with a 99.999% uptime SLA. With tools like Next Gen Secure Web Gateway, Netskope continuously monitors and protects your systems, identifying anomalies and preventing threats before they escalate. The platform also uses Behavior Analytics and Proactive Digital Experience Management to always be on the lookout, detecting performance issues and security incidents in real time to ensure financial organisations can detect and respond fast.
Incident Management, Classification, and Reporting: Streamlining the Chaos
When problems happen, managing them well is crucial under DORA. Netskope brings order to the chaos with customisable alerts and detailed event data for quick response. Advanced analytics help you classify incidents based on impact, severity, and duration, ensuring you always know what you’re dealing with. Reporting incidents to the right people quickly and clearly is easy with built-in ticketing systems, log analysis, and forensic reporting to keep regulators and stakeholders in the loop.
Operational Resilience Testing: Proving Your Mettle
DORA wants financial groups to test their systems regularly. Netskope One CASB makes sure you pass with flying colors by helping you define and strengthen your attack surface before testing, supporting various assessments like cloud application vulnerability scans and penetration tests. Using Netskope’s Cloud Confidence Index (CCI), apps are scored based on their risk profiles, helping you prioritise what needs testing and protection. Whether you’re doing internal or external testing, Netskope helps identify the critical systems and applications to ensure thorough assessments.
Information Sharing: Building a Stronger Financial Community
Netskope’s platform helps organisations boost their visibility and effectiveness in stopping the latest emerging cyber threats. Netskope Cloud Threat Exchange and Cloud Risk Exchange seamlessly integrate with top threat intelligence platforms, making it easy to automate the sharing of indicators of compromise (IOCs), file hashes (threat, DLP), malicious URLs, and risk scores. Additionally, the STIX/TAXII plugin for Cloud Threat Exchange allows for the sharing of URLs and hashes directly with Netskope, enhancing your threat detection and response capabilities.
Third Party Risk: Mitigating Dependencies
Netskope helps here by maintaining a register of third-party arrangements, identifying all vendors in use, managed and unmanaged apps, and even those third-party apps designed to extend functionality of the apps users trust and depend upon. Providing risk assessments of the apps in use, including certifications and standards, current vulnerabilities and exploits, and access controls helps you assess their readiness for your organisation, specifically tailored to your risk appetite and ensuring compliance with high security standards, making sure your vendors are up to par.
Ready to dive deeper?
Netskope’s One SASE platform is your key to mastering DORA compliance. By addressing each pillar of digital operational resilience, Netskope helps you make sure your financial organisation is protecting data everywhere, while defending against ever-evolving cyber threats.
Ready to dive deeper? Download our comprehensive guide on how Netskope’s unified SASE platform supports DORA compliance here.
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