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Navigating the New Landscape: How DORA Regulations Will Reshape the Future of Financial Services | Blog

Everest Group

Learn the steps organizations should take to prepare now and discover how the new DORA regulations will strengthen digital operational resilience. The DORA regulations are expected to significantly enhance the digital resiliency of the EU’s financial sector and foster greater stability, consumer protection, and trust.

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Cloud Takes Center Stage at 2023 Bank Automation Summit

Perficient Digital Transformation

For these reasons, Gartner predicts that by 2025, 85% of enterprises will have a cloud-first principle. However, due to their sensitive and regulated natures, some industries – especially the financial services industry – have had more complicated cloud transformation journeys than others.

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Applying cyber resilience to DORA solutions

IBM Business Partners

The Digital Operational Resilience Act , or DORA, is a European Union (EU) regulation that created a binding, comprehensive information and communication technology (ICT) risk-management framework for the EU financial sector. Notably, DORA also applies to some entities typically excluded from financial regulations.

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Navigating the New FINCEN Reporting Requirements: Beneficial Ownership Information (BOI)

inDinero

It is crucial for businesses to stay compliant with regulations, and a significant change is on the horizon. This new regulation is aimed at promoting transparency and combating financial crimes. The filing deadlines vary: Companies existing before January 1, 2024, have until January 1, 2025.

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The top digital transformation trends in 2023

The Scalers

Servion estimates that by 2025, 90% of all companies will undergo digitalisation. According to Tractica by 2025, companies of all sizes will invest €116bn in AI. Organisations including Amazon and Meta have already felt the wrath of regulators for failing to comply with regional security standards. ransomware attacks.

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The Rise of Cloud Marketplaces

Zinnov

In fact, it is estimated that by 2025, 60% of the Forbes’ Cloud 100 providers will actively participate as marketplace sellers, highlighting the widespread adoption and significance of this emerging business model.

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Time for Change – International Payment Transformation

Infosys Consulting

Regulation, Compliance, and Privacy – Data protection, compliance, and identity theft (e.g., KYC) are increasing concerns for consumers and regulators. In addition, government regulation is increasing, focusing on sanctions, knowing your customer, and anti-money laundering. central bank digital currency (CBDC)).

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