Ensuring DORA Compliance: Why understanding vendor financial health is essential for banks in 2025

As regulatory pressures grow, the European Union’s Digital Operational Resilience Act (DORA) makes it increasingly essential for banks and financial institutions to focus on the financial health of their critical vendors. By January 17, 2025, DORA will require banks to enhance third-party oversight to ensure financial resilience across their vendor network. RapidRatings offers a guide designed to simplify compliance with DORA’s stringent requirements, helping you maintain continuous visibility into the financial health of your third parties and protect your institution from potential risks.

Are You Ready? Don’t Risk Non-Compliance.

In this guide, you'll discover: 

• Financial Health Assessment: Learn to conduct due diligence on third parties’ financial stability before onboarding, as required by DORA.
• Continuous Monitoring: Implement ongoing evaluations to detect shifts in vendor stability, helping you anticipate risks before they impact operations.
• DORA-Ready Financial Reporting: Understand the reporting standards essential for compliance and how to meet them effectively.
• Operational Resilience Assurance: Gain insights on mitigating financial risks to protect your operations from third-party vulnerabilities.