NAVIGATING DIGITAL OPERATIONAL RESILIENCE ACT (DORA) FOR SWISS FINANCIAL INSTITUTIONS
In today’s interconnected financial landscape, financial actors outsourcing to specialized Information Communications Technology (ICT) service providers is not merely a strategic option but a fundamental operational model.
Swiss financial institutions and ICT companies operating in or serving the European financial market are navigating an increasingly complex regulatory terrain governing outsourcing. This article, illuminates this intricate landscape, focusing on the EU’s landmark Digital Operational Resilience Act (DORA), that is applicable from January 17th, 2025, and its interaction with the established Swiss regulatory framework.
We will delve into the scope of DORA for Swiss players, detail the key obligations and required documentation, and provide a comparative analysis of the EU and Swiss approaches to outsourcing and operational resilience for the financial sector.