5 days ago
Veeam Reveals 96% EMEA Financial Firms Struggle.
Home » Emerging technologies » Cyber Security » Veeam Reveals 96% EMEA Financial Firms Struggle
Six months after the EU's Digital Operational Resilience Act (DORA) came into effect, Veeam® Software, the Data Resilience, announced findings from a Censuswide survey. The survey revealed that 96% of EMEA financial services organizations still feel their data resilience falls short.
The study gathered insights from senior IT decision makers in the UK, France, Germany, and the Netherlands. It highlighted the challenges the sector faces in adapting to DORA, which was introduced in January 2025 to strengthen defenses against cyberthreats and ICT disruptions.
'It's promising to see that most organizations have embraced and feel confident about meeting DORA's requirements,' said Edwin Weijdema, Field CTO EMEA at Veeam.
'Achieving compliance is an important first step in ensuring your organization is resilient but given today's complex threat landscape there's more to do. New Veeam research shows that many financial institutions still see a gap in their overall resilience and face challenges in securing the necessary budget, even as DORA grows in strategic importance. The journey to operational resilience is ongoing, and it's clear that prioritizing data resilience remains critical for organizations' long-term success.'
While 94% of organizations reported that DORA is now a higher priority than before the deadline, 40% called it their top digital resilience focus. Half said DORA requirements are part of their wider resilience programs. However, many continue to face obstacles: 41% reported increased stress on IT and security teams.
37% dealt with higher ICT vendor costs.
22% saw digital regulations as barriers to innovation.
Despite the focus on compliance, many firms have yet to complete key requirements such as recovery testing, incident reporting, and third-party risk oversight, which 34% cited as the hardest to implement.
Andre Troskie, Field CISO EMEA at Veeam said, 'It's interesting to see that third-party oversight has emerged as a particular pain point for organizations. Over a third named it the most challenging to implement, and many called for additional guidance on establishing it in the first place.
An often-overlooked facet of data resilience, it's promising to see that organizations are interrogating their defences to this degree which is exactly what it was designed to do. Of course, meeting the requirements is key, but DORA was also about getting organizations to assess their resilience holistically and in that aspect, it seems to be succeeding.'
Veeam's experts stressed that while compliance is crucial, true operational resilience requires ongoing effort and holistic data resilience strategies.
The company also highlighted its Data Resilience Maturity Model (DRMM), developed with McKinsey, which helps firms assess and improve their resilience against evolving risks.
This research emphasizes the growing importance of digital operational resilience for financial institutions across EMEA as they navigate the new regulatory landscape.
