The financial sector has never been more dependent on technology. Cloud platforms, outsourced IT, and digital trading systems power day-to-day operations — but they also introduce serious risks.
Cyberattacks, system failures, and supplier disruptions can trigger regulatory breaches, financial losses, and reputational damage.
To strengthen the resilience of Europe’s financial system, the EU introduced the Digital Operational Resilience Act (DORA), often called the DORA Directive. Although the UK is no longer part of the EU, DORA still applies to many UK firms. At Copla (formerly CyberUpgrade.net), we specialise in helping financial institutions and ICT providers understand DORA’s implications and achieve compliance.
What Is the DORA Directive?
The DORA Directive sets a harmonised framework for digital resilience across the EU financial sector. It establishes prescriptive requirements in five areas: ICT risk management, incident reporting, resilience testing, third-party risk oversight, and information sharing.
From January 2025, all EU-regulated financial entities — and the ICT providers that support them — must comply. This has far-reaching implications for UK firms with EU clients or cross-border services.
Why UK Firms Should Pay Attention
For many UK businesses, DORA is not an abstract EU regulation. It has extraterritorial reach. If a UK ICT provider delivers critical services to an EU bank, insurer, or asset manager, it may be considered a critical third party under DORA. Similarly, UK financial institutions with EU operations must align with the regulation.
Even firms not directly covered will feel the pressure through contracts. EU clients are already beginning to require DORA-compliant clauses in supplier agreements — covering audit rights, reporting obligations, and exit strategies. That means UK firms must prepare, whether they are directly regulated or indirectly affected.
The Compliance Challenge
DORA raises the bar significantly. Many UK firms face challenges such as:
- Reconciling DORA’s prescriptive rules with the UK’s more principle-based operational resilience framework (FCA/PRA).
- Implementing new third-party governance structures across complex ICT supply chains.
- Renegotiating ICT contracts to include mandatory resilience and audit provisions.
- Establishing incident reporting processes that meet DORA’s strict timelines.
- Running threat-led penetration tests (TLPT) and resilience exercises beyond what UK rules currently demand.
For mid-sized financial institutions and ICT providers, these requirements can feel overwhelming without the right expertise.
How Copla Guides Firms Through DORA Compliance
At Copla, our mission is to make complex regulations manageable and actionable. We don’t just explain the rules — we help firms put practical frameworks in place that deliver both compliance and genuine resilience.
Here’s how our experts support UK organisations:
- DORA Readiness Assessments
We begin with a detailed gap analysis, comparing your existing controls against DORA’s requirements. This gives you a clear roadmap, highlighting strengths, weaknesses, and priority actions. - ICT & Third-Party Risk Frameworks
We help firms design and implement robust third-party risk management processes. From due diligence and risk assessments to supplier monitoring and exit strategies, our frameworks ensure compliance across complex supply chains. - Contractual Support
Our team guides you through revising supplier contracts. We ensure key clauses — audit rights, access to data, continuity planning, and subcontractor oversight — align with DORA. - Incident Response & Reporting
We work with firms to build incident classification systems and reporting workflows that meet DORA’s strict deadlines. This includes integrating reporting into existing governance and escalation structures. - Resilience Testing
Copla experts design tailored resilience testing programs. From tabletop exercises to advanced TLPT, we help firms demonstrate that systems can withstand real-world cyber threats. - Ongoing Advisory
Regulations evolve. We provide ongoing monitoring and advice, keeping your organisation aligned with both DORA and UK operational resilience rules.
Why Choose Copla?
Copla is more than a compliance consultancy. Our heritage means we combine technical cybersecurity expertise with deep knowledge of financial regulation. That blend allows us to bridge the gap between legal requirements and practical implementation.
Our approach is:
- Practical: We translate regulation into actionable steps.
- Strategic: We help firms see compliance as an opportunity, not just an obligation.
- Holistic: We integrate legal, technical, and governance perspectives.
As outlined in our DORA insights for UK entities, we believe early preparation is the key to avoiding unnecessary costs and last-minute disruption.
The Strategic Benefits of Early Action
While many view DORA as a regulatory burden, we encourage clients to see the upside. Early compliance brings:
- Stronger client trust — especially with EU partners and investors.
- Operational stability — fewer business disruptions due to ICT failures.
- Competitive advantage — positioning your firm as a reliable and resilient partner.
- Regulatory credibility — demonstrating leadership in resilience before enforcement ramps up.
Looking Ahead
With the January 2025 deadline fast approaching, now is the time for UK firms to act. Waiting until late 2024 will leave little room for supplier contract renegotiations, resilience testing, and governance enhancements.
At Copla, we are already working with financial institutions and ICT providers to get ahead of these changes. By starting now, you not only ensure compliance but also build resilience into the core of your operations.
Conclusion
The DORA Directive is transforming digital resilience standards across Europe, and UK firms are not immune. Whether through direct regulation or contractual obligations, DORA will shape how British financial institutions and ICT providers manage risk, suppliers, and cyber resilience.
At Copla, we bring the expertise, tools, and strategies needed to navigate this complexity with confidence. From readiness assessments to resilience testing, we support firms at every stage of their compliance journey.
If your organisation is preparing for DORA, Copla is here to help. Together, we can turn compliance into an opportunity for stronger, more resilient operations.
