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Operational resilience is a necessity in today’s digital-first landscape. With increasing cybersecurity threats, regulatory bodies are stepping up efforts to protect critical sectors from disruptions. The European Union's Digital Operational Resilience Act (DORA) sets new standards for financial institutions to safeguard against Information and Communication Technology (ICT) disruptions and cyber risks. As companies gear up for DORA compliance on January 17th, 2025, Cloud Development Environments (CDE) help organizations meet these stringent requirements.
In this blog, we’ll explore how Coder's CDE helps financial organizations align their software development practices with DORA regulations and boosts their overall digital resilience.
DORA establishes a unified regulatory framework for the financial sector to manage operational resilience. It imposes strict requirements on:
Coder offers several capabilities to help financial entities align with DORA requirements. Here's how:
1. Enhanced Security and Risk Management
DORA places a significant emphasis on risk management; securing the development process is critical. Coder is designed with enterprise-grade security at its core, allowing companies to enforce security policies across the entire development pipeline. Some of its attributes that contribute to compliance include:
2. Automated Incident Reporting
DORA mandates financial institutions have robust processes for incident reporting. Coder makes it easy to track the root cause of incidents, report them effectively, and implement corrective actions with the following features:
3. Digital Operational Resilience Testing
One of the core requirements of DORA is conducting regular resilience testing to ensure systems can withstand operational risks. Coder’s declarative nature and use of open standards make it easy to reproduce environments that are representative of production:
4. Third-Party Risk Management
Third-party service providers such as contractors and consultants are commonplace in today’s business environment. DORA requires financial institutions to assess and manage risks associated with these third parties. Coder allows companies to define strict controls and policies for their third-party developers and service providers.
Through its centralized environment, financial institutions can standardize security practices across internal teams and third-party developers, ensuring that everyone follows the same security protocols:
5. Information Sharing and Collaboration
DORA promotes a collaborative approach, encouraging institutions to share information about vulnerabilities and incidents. Coder’s use of open standards eases integration with tools, helping companies to securely share critical information with partners or regulatory bodies as mandated by DORA.
The Digital Operational Resilience Act sets high standards for ensuring the digital resilience of financial institutions, and compliance with this regulation is essential for businesses operating within the EU. Coder positions organizations to meet these demands by offering enhanced security, efficient risk management, incident reporting, and the tools necessary for ongoing testing and third-party risk management.
By adopting Coder, companies can not only streamline their development processes but also ensure that their digital products and operations are resilient, secure, and compliant with the evolving regulatory landscape. As financial institutions continue to navigate the complexities of DORA, solutions like Coder provide the agility, security, and transparency necessary for maintaining operational continuity in an increasingly digital world.
Are you ready to take the next step toward DORA compliance? Explore how Coder's CDE can support your organization today.
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