As cyber threats become more sophisticated and frequent, the Digital Operational Resilience Act (DORA) represents a critical step forward in fortifying the financial sector against digital disruptions.

Understanding DORA and Its Implications

DORA, which will be enforced as of January 2025, aims to enhance the digital operational resilience of financial entities within the EU. It mandates comprehensive measures for ICT risk management, incident reporting, resilience testing, and oversight of third-party service providers. The goal is to ensure that financial institutions can withstand, respond to, and recover from all types of ICT-related disruptions.

Compliance with DORA is not merely about avoiding penalties; it is about safeguarding the trust and stability of the financial system. As cyberattacks become more sophisticated, the potential for disruption grows.

The role of ICT in Compliance

ICT is at the heart of modern compliance strategies. Technology gives structure to an organisation’s efforts to meet regulatory requirements, helps to automate tasks but more importantly it helps to improve the overall security posture.

A cornerstone of DORA is the establishment of a robust ICT risk management framework. Financial institutions must implement strategies, policies, and tools to protect all ICT assets, including software, hardware, and infrastructure, especially critical infrastructure, and manage third party and supply chain risks.

This is achieved in several ways, but taking the five pillars upon which DORA is built, ICT is used to bolster your compliance efforts in these areas:

Automated Risk Management

ICT tools enable the automation of risk assessment and management processes, reducing the likelihood of human error and ensuring consistent compliance.

Incident Reporting and Response

Effective incident reporting and response are important under DORA. Financial entities must have mechanisms for reporting cyber incidents based on their impact on clients, data loss, and service downtime. Rapid response to incidents is essential to minimise damage and comply with regulatory requirements. Technology helps achieve this.

ICT solutions such as Security Information and Event Management (SIEM) systems aggregate and analyse security alerts from across the organisation, providing real-time insights and facilitating rapid response. Moreover, automated incident response platforms can execute predefined actions to mitigate threats immediately upon detection, ensuring compliance.

Third-Party Risk Management

Managing third-party risks is another critical requirement. Financial institutions must ensure that their contracts with ICT providers comply with DORA's standards. This involves assessing the systemic impact of these providers on the financial system and conducting thorough due diligence on subcontractors.

ICT solutions for third-party risk management allow organisations to continuously monitor the security posture of their vendors. These tools provide insights into potential vulnerabilities within the supply chain and ensure that all partners adhere to the same high standards of cybersecurity, as required by DORA.

Testing and Resilience Strategies

Regular testing of ICT systems is mandated to validate the resilience of institutions against cyber threats. DORA requires financial entities to conduct tests at least yearly to identify potential weaknesses and improve the robustness of their ICT systems. Continuous monitoring and control of ICT systems are necessary to ensure their security and functionality.

By conducting thorough and realistic testing, organisations can identify weaknesses and enhance their defensive measures, thereby meeting regulatory expectations and improving their resilience.

Backup Policies and Harmonization

Effective backup policies and harmonization of ICT risk management tools are vital for minimising ICT risks. Financial institutions must deploy appropriate strategies and tools to ensure data integrity and availability. ICT solutions such as encryption, tokenisation, and robust access controls ensure that sensitive information is protected both at rest and in transit.

Continuous Compliance Monitoring

ICT enables continuous monitoring of compliance status through integrated dashboards and reporting tools. These systems provide real-time insights into compliance metrics, helping organisations to quickly identify and address any deviations from regulatory requirements. Continuous monitoring not only ensures ongoing compliance but also supports a culture of accountability and proactive risk management.

Cybersecurity Awareness and Training

Human error remains one of the most significant cybersecurity risks. ICT platforms can deliver comprehensive training programs to educate employees about cybersecurity best practices and emerging threats. Interactive modules, phishing simulations, and ongoing education ensure that staff remain vigilant and informed, thereby enhancing the organisation's overall security posture.

In conclusion, an ICT framework and strategy is indispensable for maintaining operational resilience and ensuring the security and trustworthiness of the financial system in the face of evolving cyber threats.

Every business wants to maximise productivity and efficiency and AI-powered solutions are starting to have a huge impact on how people work. Microsoft Copilot, an AI-powered assistant integrated into Microsoft 365 applications, helps businesses to automate and enhance a multitude of tasks.

From writing and coding to data analysis and security operations, Copilot offers a suite of tools that streamline workflows and boost productivity across different platforms. In this Q&A we look at how Copilot can benefit every organisation.

What are the various Copilot options available?

There are several Copilot options available to cater to different needs:

Copilot for Microsoft 365: Integrated into Microsoft 365 applications like Word, Excel, PowerPoint, Outlook, Teams, and OneNote.

Copilot for Security: Provides generative AI tools to enhance security operations, helping identify and respond to threats quickly.

Custom Copilots: Businesses can build custom Copilots using Copilot Studio to tailor AI solutions to specific tasks and workflows.

Copilot Pro: A premium subscription offering advanced AI capabilities, including access to the latest models and enhanced performance. This is for INDIVIDUAL users only.


5 Tips Copilot

Get our free guide - '5 Tips for Making the Most of Copilot at Work', and see how you can enhance productivity and efficiency. Download now!


Is Copilot available for small and medium-sized businesses?

Yes, Microsoft Copilot is available for businesses of all sizes, including small and medium-sized businesses, without any seat minimums. This accessibility ensures that organisations of various scales can benefit from AI-powered assistance.

Which Microsoft 365 apps include Copilot functionality?

Microsoft Copilot is integrated into several Microsoft 365 applications, including Word, Excel, PowerPoint, Outlook, Teams, OneNote, and more. This integration helps users perform various tasks more efficiently across different platforms.

What is the role of Copilot in Microsoft Teams?

In Microsoft Teams, Copilot enhances collaboration by managing meeting agendas, taking notes, tracking tasks, and summarising discussions. It helps streamline communication and ensures that team members stay organised and informed.

How does Copilot improve Outlook usage?

Copilot improves Outlook by organising emails, drafting responses, scheduling meetings, and synthesising information from email threads to prepare users for upcoming meetings. This functionality helps users manage their email more efficiently and stay on top of their schedules.

What is Copilot Studio?

Copilot Studio is a tool designed for building custom Copilots tailored to unique business processes. It provides an end-to-end conversational design studio within the Microsoft Cloud, enabling businesses to create and deploy AI solutions that address specific tasks and workflows.

Can businesses build their own Copilots?

Yes, businesses can build their own Copilots using Copilot Studio. This platform offers tools to create and deploy custom AI solutions tailored to specific business processes, ensuring that organisations can meet their unique needs.

How does Copilot enhance security operations?

Copilot for Security enhances the efficiency and impact of security teams by providing generative AI tools that help identify and respond to threats quickly. These tools assist in threat detection, analysis, and response, improving overall security operations.

Which is the best plan to get the best security options with Copilot?

To get the best security options with Copilot, subscribing to Microsoft 365 E5 is recommended. This plan includes advanced security features, compliance tools, and analytics, providing comprehensive protection and insights to bolster security operations.

What is the availability of the Copilot app on mobile devices?

The Copilot app is available for both iOS and Android devices, enabling users to access AI capabilities on the go. This mobile accessibility ensures that users can benefit from Copilot's features regardless of their location.

What kind of support and training is available for Copilot users?

Microsoft provides extensive support and training for Copilot users, including tutorials, documentation, and customer support. Resources like Microsoft Learn offer detailed guides on using Copilot, while customer support teams are available to assist with specific issues. Additionally, Microsoft offers training programs and webinars to help users get the most out of Copilot​​.

Ready to experience the next level of productivity with Microsoft Copilot?

Enhance your business operations with the power of AI. Let Microsoft Copilot guide you to a smarter working environment. Embrace the opportunity to boost your efficiency and streamline workflows across Microsoft 365 apps. For more details on how to get started or to explore tailored solutions, fill in the form below or contact us today!

The second edition of The Cybersecurity Imperative conference, organised by BMIT Technologies, was held on May 14.

The conference, which was hosted by well-known presenter, Trudy Kerr, brought together cybersecurity experts, professionals, and IT decision makers from a wide range of companies to listen to an excellent line-up of local and international speakers discussing the evolving landscape of digital security and resilience building.

The excellent turnout spoke volumes about the importance and significance of cybersecurity to businesses and organisations in Malta.

There is an ever-growing urgency surrounding cybersecurity. Recent cyber threats and breaches have underscored the critical need for everyone to act decisively and collaboratively to safeguard their businesses.

Overall theme: Resilience building

The main theme at this year’s event was building resilience today for a secure tomorrow, and the speakers addressed his topic by discussing the elements that comprise resilience building.

BMIT’s CEO, Christian Sammut welcomed the attendees, talking about the key themes being discussed and why BMIT organised that conference.  

The first speaker, Inspector Clive Brimmer from the Malta Police Force, certainly set the tone for the day with some shocking statistics on cyber fraud and cyber scams impacting organisations in Malta, with Business Email Compromise (BEC) the major attack method used.

Christian Bajada, Head of Information Security at BMIT, pitched an interesting battle between compliance and security, with the latter emerging as the winner. His point: without a security-first mindset, all you have is Security Theatre.

Brian Wagner, CTO of Revenir and former Head of Compliance EMEA at AWS, giving his experience also as an engineer, spoke about transforming businesses through a security-first approach and how with that mindset in place throughout the organisation, building resilience becomes almost second nature.

Overview of cybersecurity legislation

Compliance was certainly not ignored, or its importance minimised as Dr Ian Gauci from GTG, explained the development of the cybersecurity legislation in the EU, giving some tips on how businesses can achieve compliance with the least pain during a panel session.

It goes without saying that AI was a hot topic. Microsoft’s Nicolas Yiallouros showed how AI can boost cybersecurity. He spoke on the importance of threat intelligence and the need for more information sharing between organisations.

BMIT’s Chief Digital and Compliance Officer, Dione Vella, followed on from Brian Wagner, taking attendees on a step by step approach to developing a security culture and why it is crucial to building resilience.

A glimpse of the future

While the present is important, attendees also got a glimpse of the very near future. Prof. Andre Xuereb, a quantum physicist, introduced the basics of quantum computing and quantum cybersecurity, and the practical application and impact of quantum on security.

A panel discussion followed. Taking questions were Brian Wagner, Dr Ian Gauci, Nicolas Yiallouros, Prof. Andre Xuereb, BMIT’s head of customer delivery Sean Cohen and Brian Zarb Adami, CEO of CyberSift.

Wrapping up the event, Nick Tonna, chief customer officer at BMIT, spoke about BMIT’s portfolio of solutions and services that help businesses achieve a strong security posture and assistance with their journey towards compliance and resilience-building.

BMIT is thrilled to announce the second edition of its flagship conference, The Cybersecurity Imperative, to be held on 14 May 2024 at the Hyatt Regency, St Julian’s.

The theme of this year’s conference is ‘Building resiliency today for a secure tomorrow’.

This year’s theme

In an ideal world, every organisation would have a robust security posture, good governance and risk management policies and processes, and detailed plans for disaster recovery and business continuity.

In an ideal world!

Building a resilient business is very much the flavour of the moment, particularly in the financial services industry, thanks to the EU’s Digital Operational Resilience Act, or DORA.

While resiliency building is partially driven by regulation, there is a lot more to building a resilient business, and cybersecurity plays a very big role.

Speakers

We have a great line-up of local and foreign experts, each bringing years of expertise in governance, law, security, and emforcement.

Who Should Attend?

This conference is tailored for:

Event Artwork

BMIT continues to innovate and invest in its international secure private network to meet the growing demands of its customers, ensuring they can depend on the most reliable and resilient network available in Malta.

15 April 2024 – Leading data centre, cloud, and cybersecurity provider BMIT Technologies plc today announced the successful commissioning of a new connection to its international high-speed network, via the PEACE submarine cable to France.

This investment strengthens BMIT’s network position as the most resilient in Malta and the only one utilising five submarine cables out of Malta.

BMIT has been providing reliable networks since 2016, and the new connection expands the network's capacity, introducing an additional layer of resilience by excluding Italy completely from the route. This setup enhances the already robust network, ensuring continuous connectivity to mainland Europe even in the face of unforeseen challenges. BMIT’s network has been designed to 2n specifications, doubling its capacity in a non-fault scenario, and creating a self-healing infrastructure for optimal performance.

Gordon Bezzina, Chief Technology Officer of BMIT Technologies , emphasised the significance of this network commission: “The addition of the PEACE submarine cable link underscores the considerable investment in our network, to provide 100% uptime during incidents. Using all five submarine cables connecting Malta to mainland Europe enhances our network’s resilience and provides our customers peace of mind that their operations will not be impacted when something goes wrong.”

About BMIT Technologies plc 

BMIT Technologies plc is a technology company providing infrastructure, hybrid cloud solutions, and advisory, implementation, and management services. The company helps design, build, modernise and manage the systems that clients rely on for growth, security, and success. By applying our extensive expertise, experience, and excellence we enhance customer experience, provide true value, and increase efficiency. Backed by a robust and trusted organisation, best-in-class infrastructure and a talented team of experts across various technology platforms, BMIT Technologies offers an unparalleled technology experience to any business.

As we edge closer to EURO 2024, the excitement builds not just in stadiums and homes but also across digital platforms worldwide. This anticipation brings an immense surge in online traffic, testing the limits of businesses' digital infrastructure. At a time when every second of downtime can equate to lost customers and revenue, ensuring a resilient, secure, and uninterrupted digital experience is paramount.

The Challenge Ahead

The digital age has transformed how we view and engage with global sporting events like EURO 2024. It's not just about live broadcasts anymore; it's about providing a seamless, interactive digital experience that can withstand the high traffic demands of millions of sports enthusiasts around the globe. This challenge requires robust IT infrastructure, sophisticated cybersecurity measures, and a forward-thinking approach to digital readiness.

Webinar Invitation: Learn from the Experts

To address these challenges, we are excited to invite you to our upcoming webinar, "Powering through EURO2024 and beyond: Keeping the lights on during global sporting events," taking place on Wednesday, 10th April 2024, at 11:00AM CET.

Join our esteemed speakers

Gordon Bezzina, CTO at BMIT, will share insights on ensuring your business's infrastructure is resilient enough to handle the demands of high-traffic events and how to protect against DDoS attacks.

Christian Bajada, Head of Information Security at BMIT, will delve into the broader spectrum of cybersecurity, offering strategies to safeguard against a variety of digital threats.

Ivan Galea, Product Manager at BMIT, will explore how staying informed and prepared with the right solutions can help your business navigate and thrive in the face of cyber threats.

Why Attend?

This webinar is about thriving in the digital spotlight of global sporting events. Understanding the importance of cybersecurity, infrastructure resilience, and proactive measures against cyber threats can make the difference between a winning digital experience and being sidelined by unforeseen challenges.

Secure Your Spot

Whether you're an IT professional or a business owner with a keen interest in the behind-the-scenes digital orchestration of major events, this webinar is for you. Don't miss the opportunity to gain invaluable insights and strategies from industry leaders.

Click here to register and ensure your business is prepared to power through EURO2024 and beyond.

We look forward to welcoming you to what promises to be an informative and enlightening session!

Cloud computing has evolved into a fundamental component of the modern business landscape, offering numerous advantages such as scalability, flexibility, and cost-efficiency. However, the migration of data and applications to the cloud has introduced a growing concern for data breaches and cyber threats.

In light of this, comprehending and implementing robust cloud security measures has become imperative.

Navigating the intricacies of cloud security is a complex endeavour, necessitating an understanding of the risks inherent in cloud computing and the adoption of precautions. This guide is designed to illuminate the prominence of cloud security and address its challenges.

The Significance of Cloud Security

Envision an expansive virtual realm where file storage, application access, and intricate processes unfold without the constraints of local devices – this is the essence of cloud computing.

Yet, as our reliance on the cloud deepens, the imperative to shield sensitive data and critical systems from potential cyber threats intensifies. An alarming number of companies acknowledge compromises in their systems, underscoring the pressing need for resilient cybersecurity measures.

Cloud security constitutes a suite of measures designed to safeguard data, applications, identities and infrastructure within the cloud environment. Beyond defence against external threats, benefits include:

  1. Vulnerability Management: Regular security assessments and updates are pivotal in identifying and mitigating potential vulnerabilities within the cloud infrastructure and applications.
  2. Multi-Tenancy Security: Given that cloud environments often host multiple tenants, stringent security protocols prevent data leakage between tenants and uphold individual privacy.
  3. Business Continuity: Implementation of security measures, such as data backups and disaster recovery plans, ensures the seamless continuity of business operations, even in the face of disasters or system failures.
  4. Regulatory Compliance: Facilitating adherence to stringent data protection regulations across industries, cloud security aids in avoiding legal issues and hefty penalties.
  5. Data Loss Prevention: Robust cloud security measures thwart unauthorised access to sensitive information, mitigating the risk of data loss arising from malicious attacks or inadvertent human errors (oversharing of data).

As cyber threats evolve, cloud security transcends mere data protection; it becomes critical to ensure operational continuity and upholding your customer’s trust.

Mitigating Data Breaches in Cloud Security

One of the most pressing concerns within cloud security is the potential for data breaches. As organisations entrust their sensitive information to third-party cloud providers, the risk of unauthorised access increases.

High-profile breaches have highlighted the magnitude of this challenge, illustrating that even major players in the industry are not impervious. In fact, the sheer volume of data stored in the cloud and the diverse entry points for potential attackers amplify the difficulty of safeguarding information and increase the attack surface.

Organisations must employ robust methods and access controls to mitigate this risk. A proactive approach, coupled with regular data security assessments, is imperative to stay one step ahead of cybercriminals.

Shared Responsibility in Cloud Security

Cloud security adheres to a shared responsibility model, where specific security duties are divided between the cloud provider and the user. While this collaborative approach enhances efficiency, it can also introduce a level of ambiguity concerning accountability.

In this model, the user is responsible for ensuring security in the cloud. This includes protecting data stored in the cloud, managing data access, securing applications, and implementing client-side encryption.

On the other hand, the cloud service provider is accountable for securing the cloud. This involves safeguarding the foundational infrastructure that supports cloud services, encompassing hardware, software, networks, and facilities.

Failure to comprehend and fulfil these respective responsibilities can create vulnerabilities in an otherwise well-protected system. Unclear roles may lead to security gaps, data breaches and inadequate controls.

Whether you're looking to fortify your existing cloud infrastructure or embarking on a new cloud journey, BMIT is here to empower your business with state-of-the-art security solutions. Let us help you transform these challenges into opportunities, ensuring that your cloud environment is not only resilient and secure but also a catalyst for growth and innovation.

Discover how BMIT Technologies can enhance your cloud security strategy. Contact us today to learn more about our services and how we can support your journey towards a secure and efficient cloud computing environment.

BMIT Technologies plc is proud to announce the attainment of two competencies from Hewlett Packard Enterprise (HPE) - HPE Storage and Data Services, and Data Protection and Disaster Recovery Solutions. 

This achievement marks a significant milestone for our team and reinforces our commitment to delivering cutting-edge solutions in the realm of data management and security. 

HPE Storage and Data Services Competency: 

The HPE Storage and Data Services competency validates our team's expertise in architecting, implementing, and managing tailored storage solutions to meet the unique needs of our clients. This competency underscores our proficiency in leveraging HPE technologies to empower businesses with the storage solutions they need in a data-centric landscape. 

Data Protection and Disaster Recovery Solutions Competency: 

The Data Protection and Disaster Recovery Solutions competency from HPE reaffirms our proficiency in architecting resilient and comprehensive strategies to safeguard our clients' critical data assets, providing business continuity assurance, data security and solutions aligned with regulatory compliance requirements. 

Sean Cohen, Chief Customer Delivery & Support Services Officer said: “We are committed to providing our clients with the highest standards of innovation and reliability. These competencies represent our commitment to delivering storage solutions that scale seamlessly, data services that optimise efficiency, and disaster recovery strategies that ensure business continuity. These competencies establish us as a trusted partner with the technical know-how and expertise to do so.”

The Digital Operational Resilience Act (DORA) is part of the EU’s efforts to regulate the digital sector and enhance operational resilience, boost security requirements to reduce threats and risks from the use of ICT and improve institutions’ ability to prevent and deal with ICT related incidents. DORA applies to both digital service providers and financial entities.

When does it come into effect?

It comes into effect on the 17th of January 2025.

Who does DORA impact?

It impacts all finance actors, including banks, insurance companies and investment firms. It also applies to critical 3rd party ICT-related services (cloud platforms, data analytics services) in the 27 EU member states.

What are the regulations based on?

DORA is based upon a foundation of five distinct pillars, each representing a fundamental aspect to regulate the digital sector and enhance operational resilience

  1. ICT Risk Management,
  2. ICT-related Incident Management;
  3. Digital Operational Resilience Testing,
  4. ICT Third Party Risk Management
  5. Information Sharing Arrangements.

Is DORA a challenge? The impact of DORA will vary depending on the size of company, number of employees and revenue but more importantly on their security and compliance posture and maturity. However, every industry player must have an ICT framework in place to mitigate cyberthreats and build resilience. This requires investment in resources and technology. Compliance requires time and effort and for some unprepared entities this may be a problem.

How is your DORA roadmap looking?

The clock is running down. You do not want to be scrambling to tick boxes in January 2025. If you are unsure where you stand with DORA or have doubts about your existing policies and technologies, talk to us today and one of our experts will promptly get in touch to discuss how we can meet your specific needs!

Organisations continually face challenges in adapting and innovating to maintain competitiveness. While some challenges arise from market dynamics, others stem from legislative and compliance requirements.

To address these challenges, many organisations, whether by choice or necessity, embrace a framework or standard to streamline processes, enhance overall efficiency, achieve compliance, and, of increasing importance, bolster cyber resilience. Furthermore, adopting such standards can facilitate communication and collaboration within and across the organisation.

The choice of a framework or standard depends on various factors, including the organisation's needs, its specific objectives, legal obligations, and client demands.

For instance, financial services entities may seek compliance with the Payment Card Industry's PCI DSS or the more recent European Union's Digital Operational Resilience Act (DORA). Technology companies might prioritize ISO 27001 or the NIST Cybersecurity Framework, while quality-focused organisations may opt for the ISO 9001 standard. Large enterprises often find value in Cobit 5.

Regardless of the chosen framework or standard, three common elements emerge:

Defining purpose: The organisation selects a framework or standard with a clear purpose in mind, often aligning with industry-specific criteria.

Adherence to criteria: Organisations adhere to specific criteria relevant to their industry when choosing a framework or standard.

Evidence and outcomes: Successful implementation of the framework or standard is a primary outcome, supported by thorough documentation, established processes, and clear responsibilities.

However, it's crucial to recognise that successful implementation isn't solely based on initial adoption. It hinges on a commitment to continuous improvement. Falling into the pitfall of complacency can lead to several challenges:

Without ongoing improvement efforts, processes can stagnate and become outdated, impeding adaptability to changing circumstances.

Over time, inefficiencies can creep into processes, eroding the initial benefits gained from implementing the framework.

Failing to evolve with industry best practices, technology, and methodologies can result in missed opportunities for innovation and growth.

Continuous improvement represents a dynamic approach that necessitates regular assessment, refinement, and optimisation of processes within the framework. Externally, this entails staying updated with industry developments, gathering feedback, and making necessary adjustments to continually enhance performance. Internally, continuously measure, identify failures and inefficiencies, learn from incidents and implement necessary changes, required to always provide a robust echo system on which the organization can continue to grow

Continuous improvement offers numerous advantages:

To ensure continuous improvement and valid outcomes, organisations should take the following steps:

  1. Conduct regular assessments of processes to identify areas for improvement, including internal audits, customer feedback analysis, and benchmarking against industry leaders.
  2. Use data and metrics to inform improvement efforts, as data-driven decisions are more likely to result in meaningful enhancements.
  3. Encourage employees at all levels to contribute ideas and feedback for improvement, as they often possess valuable insights into processes.
  4. Clearly document any changes made to processes or procedures resulting from continuous improvement efforts to ensure consistency and compliance.
  5. Keep employees informed about changes and provide training as needed to ensure successful implementation.
  6. Continuously monitor the impact of improvements and be willing to make further adjustments as necessary to achieve desired outcomes.

Frameworks and standards serve as invaluable tools for organisations aiming for efficiency and excellence. Continuous improvement isn't merely a goal; it's an ongoing process requiring commitment, collaboration, and communication from all compliance stakeholders.

Embracing continuous improvement ensures organisations achieve better compliance results and outcomes, while also enhancing their competitive advantage and value proposition.