DORA Compliance
Automated reporting designed with you in control
DORA Compliance
Automated reporting designed with you in control
About DORA
The Digital Operational Resilience Act (DORA) is a regulation introduced by the European Union to strengthen the digital resilience of financial entities. It entered into application on 17 Jan 2025 and ensures that banks, insurance companies, investment firms and other financial entities can withstand, respond to, and recover from ICT (Information and Communication Technology) disruptions, such as cyberattacks or system failures.
DORA brings harmonisation to rules relating to operational resilience for the financial sector, applicable to 20 different types of financial entities and ICT third-party service providers.
Why is DORA needed?
The financial sector is increasingly dependent on technology and on tech companies to deliver financial services. This makes financial entities vulnerable to cyber-attacks or incidents.
When not managed properly, ICT risks can lead to disruptions of financial services offered across borders. This in turn, can have an impact on other companies, sectors and even on the rest of the economy, which underlines the importance of the digital operational resilience of the financial sector.
This is where the Digital Operational Resilience Act, or DORA, comes into play.
Who Must Comply?
- Banks
- Insurance and reinsurance companies
- Investment firms
- Crypto asset service providers
- Payment institutions
- Third-party ICT providers (under oversight)
Key Requirements of DORA
ICT Risk Management
- Risk identification, protection, detection, response, recovery
- Governance and control by senior management
ICT-Related Incident Reporting
- Mandatory reporting of major incidents to authorities
- Standardized format and timeline (initial, intermediate, final reports)
Digital Operational Resilience Testing
- All firms: Basic testing
- Critical firms: Threat-Led Penetration Testing (TLPT) every 3 years
Third-Party Risk Management
- Risk assessments and contracts with ICT providers
- Critical third parties may come under direct EU oversight
Information Sharing
- Encourages secure sharing of cyber threat intelligence among peers
How DataTracks helps with DORA compliance?
With DataTracks Glacier you get
- Cloud-Based Platform: Access from anywhere, anytime
- End-to-End Automation: Minimise manual work, maximise efficiency
- Excel Upload: Simple and familiar input method
- Built-In Validation: Spot errors early with smart checks
- Jurisdiction-Specific Output: Tailored for local regulatory bodies
- XBRL & XBRL-CSV Output: Generate validated reports with ease
- Auto Taxonomy Updates: Stay compliant without manual updates
- Up-to-Date Validation Rules: Always aligned with regulatory changes
- Multi-User Access: Collaborate across teams
- Role-Based Permissions: Assign reviewer and preparer roles
- Lightweight & Fast: Designed for performance and speed
- Dedicated Product Support: Expert help when you need it
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What European regulatory reporting solutions does DataTracks offer?
DataTracks provides software and services for KVK and ESEF reporting, alongside solutions for AIFMD Annex IV, COREP/FINREP, Solvency II, FATCA/CRS, CbCR, and other regulatory requirements. Our team helps you select the right solution for your reporting obligations.
How does DataTracks support Dutch KVK reporting?
DataTracks helps prepare annual accounts for digital filing with the Netherlands Chamber of Commerce. Our support includes XBRL/iXBRL conversion, taxonomy mapping, tagging, and validation to prepare filing-ready reports.
What is ESEF reporting, and which companies does it apply to?
ESEF is the European Single Electronic Format for annual financial reports of issuers subject to the EU Transparency Directive’s reporting requirements. Reports must be prepared in XHTML, with Inline XBRL tagging applied to IFRS consolidated financial statements.
Are KVK and ESEF reporting requirements the same?
No. KVK reporting concerns statutory annual accounts filed with the Netherlands Chamber of Commerce, while ESEF concerns annual financial reporting by issuers within its scope. Although both can use XBRL-based formats, their taxonomies, report contents, and submission requirements differ. An ESEF report should not automatically be treated as a KVK-ready filing.
What is AIFMD Annex IV reporting?
AIFMD Annex IV reporting requires alternative investment fund managers within scope to report information about their funds to the relevant national competent authorities. This includes information on investments, exposures, leverage, liquidity, and risk.
What other regulatory reporting solutions does DataTracks offer in the EU?
Alongside KVK and ESEF, DataTracks offers solutions for AIFMD Annex IV, COREP/FINREP, Solvency II, MiCA, FATCA/CRS, and CbCR. Fund managers, and financial institutions can choose support suited to their applicable reporting obligations.
