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DORA Compliance: Enhancing Operational Resiliency within Financial Institutes with Salt Communications

In the ever-evolving landscape of financial regulations, the Digital Operational Resilience Act (DORA), which comes into force on 17th January 2025, emerges as a pivotal challenge for financial institutions. Complying with DORA regulations demands an elevated standard of operational resilience and cybersecurity. Financial institutions must navigate intricate requirements, ensuring their systems and processes are robust enough to withstand various digital threats while maintaining uninterrupted service delivery. Implementing DORA compliance measures necessitates comprehensive risk assessments, enhanced cybersecurity protocols, and resilient IT infrastructure. By meeting these stringent standards, financial institutions not only uphold regulatory compliance but also strengthen their resilience against cyber threats, safeguarding both their operations and their clients’ assets in an increasingly digital environment.

What is DORA? 

The need for Secure Communications for DORA

While DORA covers a wide range of requirements for ICT risk management, incident management, and resilience testing, the specific requirement for secure communication channels can be inferred from several sections of the DORA framework:

  • ICT Risk Management Framework (General Overview): DORA mandates the establishment of a comprehensive ICT risk management framework by financial entities. This framework includes measures to protect the integrity, availability, and confidentiality of data and systems. Secure communication channels are a critical component of safeguarding data in transit, thereby contributing to the overall ICT risk management efforts. The management of critical information within a financial organisation has never been more important. To minimise the risk of external attacks or compliance breaches, having a deployable, secure and compliant communications platform ensures the maintenance of records in a secure environment during all events.
  • Digital Operational Resilience Testing (Chapter Four of DORA): The act requires firms to conduct digital operational resilience testing, which would include testing the security of communication channels. This is to ensure that these channels are robust against unauthorised access and data breaches, which are critical for maintaining operational resilience. Having a verified and trusted secure communications system in place is a key element of the organisation’s critical infrastructure which should be tested regularly with key personnel.
  • ICT-Related Incident Management (Article 14 of DORA): DORA specifies the need for a communication strategy for ICT-related incidents that necessitate disclosure. Standard methods of communicating information to a mass audience can come under threat when managing incidents. Whether systems have been attacked and some methods of mass communication are unavailable, or the alternative methods are insecure SMS blasts, organisations need to ensure that all information passed to employees and key stakeholders during an incident is available and fit for purpose. The right secure communications solution will mitigate this risk.
  • Management of ICT Third-Party Risk: The requirement for a secure and compliant communications platform for financial organisations is significant and selecting the correct provider is crucial.  Having the ability to carry out all security due diligence on that provider is key. Vendors who are open and transparent about their security protocols and updates will streamline your DORA compliance, by reducing third-party risk.

Salt: A Tailored Approach for Financial Institutions

At Salt we understand the unique regulatory pressures faced by financial organisations. Our primary objective is to equip financial institutions with the essential platform and knowledge required to navigate these challenges successfully, safeguarding the security of their sensitive information. Salt Communications stands out from conventional solutions by offering a specialised approach specifically tailored to meet the unique needs of financial institutions. 

By choosing the most appropriate deployment option, Salt will help realise the organisation’s DORA implementation strategy, ensuring a smooth and disruption-free transition. This adaptability not only guarantees compliance but also preserves operational efficiency. 

Regardless of size or complexity, Salt adjusts to evolving needs, providing a flexible and scalable compliance solution for both Government and Financial clients. Here’s where Salt Communications emerges as the essential component, seamlessly aligning with the stringent requirements to ensure your financial institution stays ahead of the regulatory curve.

Addressing DORA Challenges – The Salt Way 

As financial institutions grapple with the demands of DORA, Salt Communications provides a tailored solution to secure your communications all whilst following compliance regulations: 

Encryption Excellence:

   – Salt’s cutting-edge end-to-end encryption serves as a robust shield, ensuring that only authorised entities can access sensitive information. Protecting one-to-one text messages, group chats, calls, conference calls and documents.This fundamental security layer mitigates the risk of breaches.

Fortified Information Sharing:

   – Exchange confidential documents securely with Salt’s secure file-sharing feature. By utilising Salt’s technology, you can streamline communication while protecting financial data and real-time communications. With robust encryption and advanced security measures you can trust that your sensitive documents are protected. This enhances efficiency and provides peace of mind when sharing operational plans, financial reports, contracts, or client information within your organisation or with trusted partners and clients.

Broadcast functionality:

   –  Salt facilitates seamless and compliant communication within organisations by enabling the sharing of live alerts, messages, images, and documents among large groups. While adhering to DORA regulations and other relevant compliance standards it enables the swift and unrestricted flow of vital updates and documents.

Dynamic Compliance Assurance:

   – Stay compliant with Salt by effortlessly capturing a secure trail of communications to ensure continual adherence to evolving regulatory standards, including DORA. By allowing regulatory archiving with Salt’s archiving and retention capabilities you can safely store and retrieve communication data, facilitating seamless audits, when required.

Supply Chain and Outsourcing Comms:

– In the realm of digital operational resilience, maintaining secure communication channels with suppliers, contractors, and partners is paramount. In times of crisis or significant outages, the ability to seamlessly communicate with off-shore entities can be invaluable. By establishing strong communication protocols and utilising secure channels, financial institutions can ensure the continuity of operations, swiftly address emerging challenges, and collaborate effectively with stakeholders. Proactive measures in this regard not only bolster resilience but also mitigate potential disruptions, safeguarding the integrity and stability of the financial sector.

Flexible deployment options:

– Flexible deployment options tailored to your needs, with both hosted and on-premise installation available. Salt Communications is often deployed by financial clients outside of their primary infrastructure. With this approach, in the case of a breach or incident, Salt can immediately remain deployed in a secure and compliant manner as a Safe Haven Communications Network. 

Security Testing: 

-Salt Communications complies with best practice security standards and is regularly tested by independent third parties on behalf of security focused clients. Salt has over 10 years experience in these secure processes and actively engages in managing requests from independent security firms in an efficient manner. 

Embrace Compliance Confidence with Salt Communications

In the face of heightened regulatory scrutiny and the imperative of DORA compliance, Salt Communications emerges as a steadfast partner. Invest in Salt to fortify the integrity, confidentiality, and compliance of your financial institution’s sensitive information. Navigate the complexities of DORA regulations with ease, powered by the secure and tailored communication solution offered by Salt Communications.

For more information about complying with the forthcoming DORA regulations (deadline 17th January 2025), or avail of our 30 day free trial or purchasing Salt contact us at info@saltcommunications.com to speak with a member of our team. 

About Salt Communications:

Salt Communications is a multi-award winning cyber security company providing a fully enterprise-managed software solution giving absolute privacy in mobile communications. It is easy to deploy and uses multi-layered encryption techniques to meet the highest of security standards. Salt Communications offers ‘Peace of Mind’ for Organisations who value their privacy, by giving them complete control and secure communications, to protect their trusted relationships and stay safe. Salt Communications is headquartered in Belfast, N. Ireland, for more information visit Salt Communications.

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