Navigating DORA: How We Helped Nordea and Other Banks Stay Ahead of Compliance
Regulatory changes can often bring significant challenges, especially when implementation timelines are unexpectedly short. This was precisely the case with recent updates to the Digital Operational Resilience Act (DORA), which posed serious concerns for financial institutions across the European Union.
One of these institutions, Nordea—a major Scandinavian bank and a new customer through our partner Mega—faced an urgent need to adapt to these regulatory changes. With only a 20-day window for compliance once the regulations were published, Nordea turned to us for support. Understanding the critical nature of these updates, we took proactive measures to map the draft versions of the regulations. This allowed Nordea to begin its compliance process early, ensuring it was well-prepared for the official implementation.
By the end of Q4, we successfully mapped all required regulations, not only meeting Nordea’s needs but also assisting several other large banks facing similar concerns. This achievement reinforced our commitment to providing timely and effective compliance solutions for the financial sector. Our work didn’t stop there. In addition to DORA (AD ID 3668), we have now mapped several related regulatory updates that are in the final approval stages within the EU. These include AD IDs 3975, 3976, 3977, 3979, 4009, 4010, and 4011—all of which are of critical importance to banks and financial service providers operating in the EU.
As regulatory landscapes continue to evolve, we remain dedicated to equipping our clients with the tools and insights they need to stay compliant and ahead of industry changes. If your organization needs guidance on DORA or related regulations, reach out to us today and ensure your compliance strategy is future-ready.
