Despite the imminent enforcement of the European regulations DORA and NIS2, only a third of European organizations (34%) have completed their preparations to comply with the requirements, according to a recent study by Sailpoint. The DORA regulation, which will be mandatory for banks and insurers starting in January 2025, and the expansion of NIS2, which will apply to more sectors from this month of October, aim to improve cybersecurity and incident response capabilities in the European Union.
However, the challenge of complying with these regulations, which also affects providers and other industrial and non-industrial organizations, remains significant. Armatum, the company behind the first platform in Spain for quantifying technological risk in financial terms, has integrated the non-compliance risks of DORA and NIS2 into their assessments, strengthening their tool for companies to manage their technological risks with greater precision.
Artificial intelligence, key to regulatory compliance
The increasing volume of regulations, coupled with rising compliance costs, has raised concerns among the boards of many companies. A study by Thomson Reuters highlights that cost pressures are one of the main challenges organizations face. To address this, the use of artificial intelligence (AI) is expected to grow exponentially. According to Gartner predictions, 60% of companies will use AI to improve their cybersecurity and regulatory compliance by 2025, compared to the current 20%.
The implementation of AI in cybersecurity not only promises to reduce cyber incidents by 30%, according to a McKinsey report, but can also reduce compliance costs by 25%, especially in sectors regulated by DORA, as estimated by Deloitte.
Armatum: a cutting-edge platform for technological risk management
In this context, Armatum, part of the ABAI technology group, has enhanced its platform with the ability to measure technological risks associated with cybersecurity and compliance with regulations like DORA and NIS2 in financial terms. Their tool offers detailed analysis that allows organizations to identify risks, audit their security status, and communicate these risks clearly to their executive teams.
Manuel Carpio, cybersecurity director at Armatum, remarked: “This tool provides a competitive differential value, capable of identifying and auditing your organization’s security status and communicating risks statistically and financially.” Additionally, the platform is user-friendly and highly customizable, making it easy to adapt to the specific needs of each company.
With this update, Armatum positions itself as a key tool for risk assessment, digital operational resilience, and third-party risk management, complying with international standards like ISO 27001, 27005, and PCI-DSS. It also offers justifying economic reports that can be used in investment proposals for corporate security.
The urgency to comply with DORA and NIS2 is driving many organizations to seek innovative solutions like AI, and platforms like Armatum are presented as ideal options to face these new regulatory challenges and ensure protection against cyberattacks.