The European Union’s upcoming Digital Operational Resilience Act (DORA) is expected to come into force towards the end of 2023. It will introduce new regulatory measures to mitigate the risks arising from the increasing reliance of Financial Services Entities on Information Communication Technology (ICT) systems and third-party service providers critical to running their operations.
Financial Services Entities will be required to adopt appropriate measures around:
- ICT risk management
- ICT incident management and reporting
- Digital operational resilience testing
- Sound management of ICT third-party risk
How the Digital Operational Resilience Act will affect Salesforce
DORA will introduce an oversight framework for critical ICT third-party providers, such as cloud service providers like Salesforce. We see such convergence of direct and indirect requirements as a unique opportunity to continue enhancing our way of operating, contracting, and offering our Financial Services customers world-class products.
At Salesforce, trust is our number one value and we recognise that our Financial Services customers will rely on us to build a DORA-compliant ecosystem. Over the coming months, we will continue to work with industry and regulatory authorities for trusted digital infrastructure.
For updates, customers can visit our Financial Services Cloud page.
