With the January 17, 2025 deadline approaching, around 22,000 companies in the EU are preparing to comply with the Digital Operational Resilience Act (DORA). This new regulation imposes strict demands on organizations, requiring enhanced IT security, third-party risk management, and resilience during operational disruptions. Failure to comply could result in significant penalties, including fines of up to 2% of global annual turnover or EUR 1 million for individuals.

A recent McKinsey & Company study revealed that 31% of the surveyed financial institutions doubt their ability to meet the DORA deadline. A concern that is shared by the Association for Financial Markets in Europe (AFME), highlighting the need for effective compliance solutions.

In response, Performativ is launching DORAedge, the first platform designed specifically to streamline DORA compliance. DORAedge offers a comprehensive, user-friendly solution to help financial entities and their information communication and technology (ICT) vendors manage their compliance efforts efficiently.

Key features of DORAedge include:

• ICT third party tracking and risk assessment: Monitor and manage third-party vendor relationships to ensure compliance with DORA.
• AI-powered incident management and response: Real-time monitoring tools that detect and classify ICT-related incidents instantly. Automatically drafted incident reports help organizations respond swiftly and accurately to emerging threats.
• Policy management: The platform provides a guided setup for implementing DORA policies, identifying the specific policies required based on the organization’s unique profile and specifies the key elements to be included in each policy.
• Timely notifications: Automated alerts for necessary reviews have been implemented to help prevent compliance breaches.
• AI-driven task automation: Routine compliance tasks such as generating incident descriptions and classifying risks are automated with AI, significantly reducing the time and effort required.
• Reporting: Reports are generated in the required DORA format, ready for internal reviews and submission to authorities. The reports cover all aspects of the regulation, giving the organization a clear and transparent view of its compliance with DORA.

DORAedge not only simplifies regulatory adherence but also strengthens overall operational resilience.

‍“With the DORA deadline rapidly approaching, many organizations are feeling the pressure to comply with these new regulatory requirements. DORAedge was created to ease this challenge by offering a comprehensive and cost-effective solution that not only ensures compliance but also bolsters operational continuity and security. At Performativ, we are dedicated to supporting companies through this transition, and DORAedge plays a pivotal role in that commitment”, says Albert Geisler Fox, CEO and Co-founder of Performativ.

Initially available to existing Performativ clients only, broader access to DORAedge will follow shortly after. Organizations interested in the platform can sign up for the waitlist at doraedge.com.