Enabling DORA Compliance in Financial Services with Xtravirt

Runecast and our partner Xtravirt, a leading cloud consulting and managed services business, are excited to announce an enhanced partnership aimed at enhancing operational resilience in the banking, financial services and insurance (BFSI) vertical. 

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The collaboration centers around continuous compliance monitoring to address the European Union’s Digital Operational Resilience Act (DORA), a pivotal regulation in the financial domain that will come into full effect in January 2025.

Addressing the Critical Need for Operational Resilience

In today’s rapidly evolving digital landscape, operational resilience has become a critical cornerstone for financial institutions, necessitating robust and intelligent solutions. Runecast’s innovative compliance monitoring assists organizations in seamlessly meeting the stringent requirements of DORA. It identifies any gaps in compliance, to help organizations proactively address, achieve, and validate a state of continuous compliance. Additionally, Xtravirt’s expert consultancy and managed services to prioritize those gaps and assist in closing them give organizations a holistic ready-to-go solution for ensuring regulatory compliance with VMware technologies.

Empowering Financial Institutions

This strengthened collaboration between Runecast and Xtravirt – a progression of our strategic partnership first announced in May 2020 – empowers financial institutions to achieve and maintain resilient operational environments. These environments are vital for business continuity and safeguarding sensitive data to ensure optimal service delivery. The synergy between Runecast’s continuous compliance monitoring and Xtravirt’s unparalleled multi-cloud services creates an ecosystem where financial institutions can thrive with augmented security, compliance, and operational agility.

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“Runecast’s commitment to providing continuous compliance monitoring for DORA reflects our vision for a comprehensively compliant and resilient financial services industry,” said Runecast CEO and Co-Founder Stanimir Markov. “Our partnership with Xtravirt marks a significant step towards realizing this vision, offering financial entities and connected service delivery partners an advanced solution to ensure uninterrupted service delivery, even in the face of unforeseen challenges.”

Mitigating Risk and Managing Compliance

In an era where industries face regulations with ever-evolving complexity, and the risk of non-compliance often results in costly penalties, data breaches, and resulting reputational damage, navigating a modern digital infrastructure is incredibly challenging. Xtravirt offers Managed Services and new packaged solutions to help organizations address this.

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• Xtravirt Managed Risk and Compliance, powered by Runecast, provides an independent view of the current compliance status of a customer's VMware environment. With prioritized recommendations based on the customer's risk appetite – and the ability for Xtravirt to implement solutions on behalf of the customer – this service is a powerful tool for IT executives needing to verify ongoing compliance with DORA requirements.

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• Xtravirt’s Managed DORA Compliance with Managed Hosted Cloud, leveraging the Runecast platform, offers a comprehensive view of a cloud infrastructure’s alignment with DORA regulations and other industry benchmarks. The solution provides in-depth insights, identifies potential areas of risk, and offers strategies for maintaining continuous compliance. It gives organizations the confidence to trust Xtravirt with the day-to-day management of the VMware Cloud on AWS environment, ensuring proactive compliance management.

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• Xtravirt’s Managed DORA Compliance with Managed Ransomware Protection, powered by Runecast, combines two essential pillars in modern IT infrastructure: cybersecurity against ransomware threats, and stringent compliance with the DORA regulations. Leveraging Xtravirt's deep expertise in risk assessment, regulatory compliance, infrastructure protection, and cybersecurity, this comprehensive service provides organizations with a robust shield against cyber threats while ensuring continuous regulatory compliance in their VMware cloud environments.

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“These solutions harness the best-in-class expertise from Runecast and Xtravirt, and demonstrate our commitment to understanding the unique demands of the financial sector,” said Xtravirt Strategic Services Director Robin Gardner. “We are here to help organizations navigate the complexities of DORA compliance while enabling them to maintain their primary focus on core financial operations so they can confidently embrace the future, knowing their VMware workloads are compliant, secure, and managed by a trusted partner.”

UPDATE: With the release of Runecast 6.8 on November 7, 2023, DORA compliance coverage was extended also to Windows and Linux operating systems.

About Xtravirt

Xtravirt is an independent cloud consulting and managed services business with over 15 years’ experience supporting organizations across the public, private, and not-for-profit sectors. We believe in enabling digital transformation journeys to achieve better business outcomes at every stage of the IT lifecycle.

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We help our customers to solve their tactical and strategic challenges, whilst empowering them to innovate and thrive in an ever-changing digital world.

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Our core consulting and managed service capabilities include multi-cloud, digital workspace, networking, security, and modern applications.

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Find out more at xtravirt.com or email info@xtravirt.com.

About Runecast

Runecast Solutions Ltd. is a global leader in AI-powered risk mitigation, security, continuous compliance and more efficient IT operations management. Our cloud-native application protection platform (CNAPP), Runecast, spans on-premises VMware to operating systems, cloud and containers. Trusted by forward-thinking enterprises across the most heavily regulated sectors, we provide proactive vulnerability and configuration drift management, security and compliance assessment, operational efficiency and mission-critical stability. Headquartered in London, U.K., Runecast is recognized as a Gartner Cool Vendor, recommended by CISA, and has earned Frost & Sullivan’s 2023 European New Product Innovation Award in the CNAPP industry, as well as Computing magazine awards for Enterprise Threat Detection, Cloud Security Product of the Year, and Best Place to Work in Digital.

‍*This article was adapted from an earlier press release announcement launched jointly between Runeast and Xtravirt.