DORA: the details
It is Regulation (EU) 2022/2554 and has applied since January 17, 2025 to banks, insurers, payment institutions, investment firms and other players in the financial sector. It rests on five areas: ICT risk management, incident management and reporting, resilience testing, third-party risk and information sharing.
It also reaches, indirectly, whoever provides them with technology services. The entity must keep a register of its providers, and contracts have to include specific clauses: service levels, data location, audit rights and an exit plan. For a software provider, working with a financial entity means being able to document all of that.