Dutch financial companies are subject to the Digital Operational Resilience Act (DORA). The EU regulation, which aims to improve cybersecurity in the financial sector, places extensive requirements on the management of ICT third-party providers. By combining artificial intelligence and automated workflows, the software Fabasoft DORA significantly reduces the resources required to implement the DORA specifications.
The advantages of digital outsourcing management:
- Minimize workload
- Adhere to regulatory requirements
- Avoid risks & manual errors
- Increase transparency & audit security
Automatically create your register of information
Access all relevant information from a single, digital database and automatically generate the required reports in accordance with DORA. Unlike spreadsheets, content enters the predefined register independently, without manual maintenance. The result is a seamlessly synchronized, digital register of information that can be easily exported in the specified data format and shared with authorities.
Download whitepaper: 5 steps to the finished register of information
Check your contracts for DORA-specific clauses with AI
DORA stipulates various minimum contract content for the outsourcing of IT services to third-party service providers. For example, the ICT contracts must cover security requirements, incident reporting, data processing and storage, contingency and recovery plans, and transition arrangements.
For financial institutions, this means reviewing their entire contract portfolio with ICT third-party providers for DORA compliance and amending documents by concluding new supplementary agreements. Fabasoft DORA's AI contract review function independently detects deviations from the DORA regulations in your ICT contracts and summarizes the evaluations, including the identified content.
Read more about DORA's minimum contract content here.
Conclude new contracts in compliance with DORA
After completing the contract review, Fabasoft DORA provides you with the tools to automatically generate the necessary supplementary agreements based on your clause library. The required approval and signing processes, including an integrated digital signature, are then initiated optionally. External partners are directly integrated into the workflows to avoid media breaks.
Stay on top of your assessments
Secure the execution of all activities and recurring assessments with digital workflows. Monitoring reports provide an overview of pending reviews and ensure the completeness of certificates and documentation of your ICT third-party providers. Electronic workflow signatures document each process in an audit-proof manner. Email and push notifications remind you of your tasks.
