What is DORA? Hint: It's not an adorable and curious explorer...
The Digital Operational Resilience Act (DORA) will go into effect on January 17, 2025, and it affects financial institutions within the European Union. This regulation mandates that these institutions ensure the confidentiality, integrity, and availability of data at rest, in transit, and in use, leveraging technologies like confidential computing and robust encryption methods to protect data during processing. DORA aims to enhance the financial sector's operational resilience against ICT disruptions and cyber threats.
Read more here: https://lnkd.in/dM8zhXwh
Some Requirements of DORA
1. **Confidential Computing and Data Encryption**
- Financial institutions must protect data at rest, in transit, and in use using technologies like confidential computing.
- Implement encryption for all data states to ensure comprehensive protection throughout its lifecycle.
2. **Processing Encrypted Data**
- Financial entities must adopt encryption technologies to maintain data confidentiality during processing, with an emphasis on scalable solutions like confidential computing over homomorphic encryption.
3. **Auditing Data Privacy and Sovereignty**
- Establish robust data management frameworks to ensure data accuracy, completeness, and integrity.
- Maintain control over data storage and processing locations, particularly when using third-party ICT services.
- Report significant ICT-related incidents to relevant authorities to ensure transparency and accountability.
Opaque Systems is an Elegant Solution for DORA Compliance:
**Confidential Computing Solutions**: Opaque’s confidential AI platform uses secure enclaves to protect data during processing, ensuring compliance with DORA’s requirements for data confidentiality and integrity in use. Opaque is the only turn-key application for general-purpose AI (analytics, ML, GenAI) on confidential computing.
**Comprehensive Data Encryption**: The platform supports advanced encryption for data at rest, in transit, and in use, aligning with DORA’s stringent data protection standards.
**Data Privacy Auditing Tools**: Opaque provides an auto-generated audit trail cryptographically signed by the CPU (or GPU) for data lineage tracking, quality assurance, and compliance reporting, helping financial entities meet DORA’s auditing requirements.
These capabilities make Opaque an ideal partner for financial institutions aiming to comply with DORA, enhancing their operational resilience and security. We're already working with many clients in the EU grappling with regulatory, data privacy, and sovereignty challenges.
Schedule a meeting with us: www.opaque.co or Hello@Opaque.co