DORA as a Service
Automating the capturing of 3rd, 4th and 5th party providers for the finance sector's response to DORA
The Digital Operational Resilience Act (DORA) must be adhered to from January 2025. Financial institutions operating within the EU are mandated to annually report details of their High Risk Third-Party Providers (TPPs), including relevant 3rd, 4th and 5th related parties and their Concentration Risk. The cost of non-compliance can be significant.
The Digital Operational Resilience Act (DORA) must be adhered to from January 2025. Financial institutions operating within the EU are mandated to annually report details of their High Risk Third-Party Providers (TPPs), including relevant 3rd, 4th and 5th related parties and their Concentration Risk. The cost of non-compliance can be significant.
The future of ecosystem management
The introduction of DORA and further regulation, and the need to pro-actively manage TPPs means the TechPassport DaaS becomes the go-to platform. Financial institutions will need to demonstrate and evidence the management of their tech estate and, using the TechPassport DaaS, our clients are able to map the full estate globally as necessary.
Solving the critical element of DORA for Third-Party management
The key to TechPassport’s solution lies in the provision of information and intel on TPPs, and their relevant providers, building a complex series of nodes and connectivity. It enables institutions to effectively and pro-actively manage their TPPs in accordance with DORA requirements.
Mapping Third-Parties and their dependencies
TechPassport maps 3rd, 4th and 5th party dependencies across the sector and captures the key requirements from these parties to report to the regulators.
Effective tools for adhering to DORA requirements
TP-Cube
TechPassport delivers a robust, cost-effective, and timely solution to the DORA challenge. This will be the first of many such challenges our clients will face and utilising our adaptable and revolutionary DaaS platform will ensure you are always ready for regulatory changes, creating a multi-faceted cube of data on each provider; the TP-Cube.
TP-CAM
The TP-CAM process enables you to effectively create, assign and manage your supply chain.
Create a node
Assign the connections
Manage the risk
TP-CAM
The TP-CAM process enables you to effectively create, assign and manage your supply chain.
Create a node
Assign the connections
Manage the risk
Dora as a Service
TechPassport brings together and connects the estate for full Concentration Risk mapping. This enables informed decisions for identifying new solutions, and managing accordingly and pro-actively.
Whilst some larger FIs capture the 4th parties and less so for the 5th, this is often held in standalone spreadsheets, making the data difficult to harness and effectively interpret and therefore makes it impossible to identify the risks posed from a wider network perspective.
Concentration Risk identification
TechPassport DaaS enables identification of Concentration Risk at Financial Institution level and sector level, providing our clients with the ability to effectively and efficiently manage their existing and evolving supplier estate, and to consider how effective their supplier ‘stressed’ exit plans are.
Data & analytics
TechPassport’s comprehensive suite of analytics tools feature a centralised, aggregated view and dashboards to track overall trends sector-wide. Financial Institutions can identify gaps in supply chain contracting to ensure re-mediation and de-risk operational impacts, all in one place.
Streamline your global supply chain management with TechPassport
Identify and map your supplier Concentration Risk
Utilise comprehensive data and analytics tools
Efficiently manage your evolving supplier estate
Capture key requirements of TPPs to report to regulators
Create, Assign and Manage your supply chain with TP-CAM
Always be ready for regulatory changes with TP-Cube
Ready to get started?
Manage your response to DORA today
