BOSTON, July 16, 2024 (GLOBE NEWSWIRE) -- Black Kite (https://blackkite.com/),
the leader in third-party cyber risk intelligence, today announced that it has
integrated the European Union (EU) Digital Operational Resilience Act (DORA)
framework into the Black Kite Platform. The regulations, which go into effect on
January 17, 2025, are designed to improve resilience and cybersecurity posture
in organizations operating in the financial sector.
The financial industry is one of the most highly targeted industries for cyber
attacks due to the significant capital and sensitive data it harbors. In fact,
according to Black Kite's Third-Party Breach Report (https://blackkite.com/wp-
content/uploads/2024/03/Blackkite-Annual-Third-Party-Breach-Report-FNL-Digital-
2.pdf), last year finance and insurance were the second most affected industries
by third party data breaches. DORA is working to combat these threats by
building on existing laws, such as the NIS Directive and GDPR, to close gaps in
digital and third-party risk management. More than 21,000 EU financial
institutions, such as banks, credit companies and information and communications
technology (ICT) third-party service providers will be required to comply with
DORA, and failure to do so could result in substantial fines. This complex
process requires parsing through lengthy documents and coordinating with third-
party vendors, so a solution is needed to streamline tasks to ensure compliance
is done quickly and efficiently.
Black Kite is helping EU financial organizations meet these mandates by
integrating the DORA industry framework into the Black Kite Platform under its
compliance module. Using Black Kite's UniQue Parser
(https://blackkite.com/blog/how-the-black-kite-parser-aids-procurement-and-
compliance-management/) 3.0, the industry's first cyber-aware AI engine,
organizations can easily process any security policy or artifact documents
uploaded by vendors. Users can also map DORA controls to other frameworks in the
platform in seconds, automating the task of aligning security policies with
standards. With Black Kite, companies can streamline assessments and pinpoint
compliance gaps, saving companies time and greatly reducing risk.
"With the looming deadline for DORA compliance, it's imperative that EU
financial organizations take action sooner rather than later to ensure their
security strategies are up-to-date," said Chuck Schauber, chief product officer
at Black Kite. "By leveraging Black Kite's proprietary AI engine, companies can
easily navigate the complex compliance landscape faster and more efficiently
than traditional methods."
Visit the website (https://blackkite.com/compliance-4/) to learn more about
Black Kite's solution.
About Black Kite
Black Kite gives companies a comprehensive, real-time view into cyber third-
party risk so they can make informed and proactive risk decisions that help
avoid business disruption, building resilience within their supply chain. With
one-of-a-kind collaboration capabilities, companies can work directly with their
vendors to report, mitigate, and minimize risk, improving their own business
resilience as well as their vendors' organizations.
Through an automated process, and a combination of threat, business, and risk
information, Black Kite provides cyber risk detection and response capabilities
that are accurate, fast, and transparent.
Black Kite serves more than 3,000 customers in a wide range of industries and
has received numerous industry awards and recognition from customers
(https://www.gartner.com/reviews/market/it-vendor-risk-management-
solutions/vendor/black-kite/product/black-kite-third-party-risk-intelligence-
platform).
Learn more at www.blackkite.com (http://www.blackkite.com), and on the Black
Kite blog (https://blackkite.com/blog/).
Copyright © 2024 Black Kite, Inc. All rights reserved. All other brand names,
product names, or trademarks belong to their respective holders.
Media Contact:
Geena Pickering
Look Left Marketing
blackkite@lookleftmarketing.com (mailto:blackkite@lookleftmarketing.com)
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