Commvault and Pure Storage Collaborate to Help Financial Institutions Meet Stringent DORA Requirements

Rhea-AI Summary

Commvault and Pure Storage have announced a joint cyber readiness solution to help organizations comply with evolving regulations, particularly the EU's Digital Operational Resilience Act (DORA), effective January 2025. The solution addresses key aspects of DORA, including risk management and operational resilience testing.

The joint offering provides:

• Protection: Built on zero-trust principles with advanced authentication, storage encryption, and compliance locks
• Detection: Proactive risk scanning, AI-assisted anomaly detection, and cyber deception technology
• Response and Recovery: Rapid recovery of mission-critical systems using Pure Storage Platform snapshots
• Operational Resilience Testing: Continuous testing in secure, isolated environments

This solution aims to enhance cyber resilience, operational readiness, and rapid recovery capabilities for financial institutions and other organizations facing stringent regulatory requirements.

Positive

• Joint solution addresses key aspects of DORA compliance
• Enhances cyber resilience and operational readiness
• Provides rapid recovery capabilities for mission-critical systems
• Offers continuous testing in secure, isolated environments
• Supports compliance with multiple cybersecurity and privacy regulations

Negative

• None.

Insights

Cybersecurity Expert

This collaboration between Commvault and Pure Storage addresses critical aspects of DORA compliance, particularly in cyber resiliency and operational readiness. The joint solution offers multi-layered protection, including zero-trust principles, advanced authentication and hardware immutability. Key features like AI-assisted anomaly detection and cyber deception technology significantly enhance threat detection capabilities.

The solution's ability to provide rapid recovery from Pure Storage Platform snapshots is important for meeting stringent recovery time objectives. This is especially vital for critical systems like payments in the financial sector. The continuous testing capability in isolated environments is a standout feature, allowing organizations to refine their recovery processes and maintain readiness for potential breaches or outages.

While this partnership strengthens compliance efforts, it's important to note that DORA compliance involves broader organizational changes beyond just technological solutions. Financial institutions will need to ensure their entire operational framework aligns with DORA's comprehensive requirements.

Financial Regulations Analyst

The Commvault-Pure Storage collaboration is timely, given DORA's impending implementation in January 2025. This solution addresses key DORA requirements, particularly in risk management and operational resilience testing. It's noteworthy that the solution extends beyond DORA, potentially aiding compliance with other regulations like the EU's NIS2 Directive and RBI e-mandates.

For financial institutions, this integrated approach could streamline compliance efforts across multiple regulatory frameworks. However, it's important to understand that technology alone doesn't ensure full compliance. Organizations must also focus on policy development, staff training and regular audits to meet DORA's comprehensive requirements.

The solution's emphasis on rapid recovery and continuous testing aligns well with DORA's focus on operational resilience. This could be particularly valuable for global banks and financial entities operating across multiple jurisdictions, helping them maintain consistent compliance standards.

Joint solution delivers cyber resiliency, operational readiness, and rapid recovery capabilities to address growing regulations.

LONDON, Oct. 8, 2024 /PRNewswire/ -- COMMVAULT SHIFT -- Commvault, a leading provider of cyber resilience and data protection solutions for the hybrid cloud, today announced a joint cyber readiness solution with Pure Storage that can play a key role in helping organizations comply with evolving and stringent regulations.

For example, the European Union's (EU) Digital Operational Resilience Act (DORA), slated to take effect in January 2025, introduces a comprehensive framework focused on ensuring financial entities, including global banks, are not only prepared for unplanned events, but capable of recovering swiftly and effectively.

DORA requires organizations to report on cyber resiliency practices across a host of areas including, but not limited to risk management and operational resilience testing. Together, Commvault's exceptional data protection and cyber resilience offerings and the innovative Pure Storage Platform help organizations address aspects of these regulations with an integrated solution that assists with compliance and keeps customers' data secure in the face of cyber-attacks, bad actors, and rising ransomware threats.

Under risk management, DORA identifies several subcategories that financial entities should focus on as part of their strategy for securing customer data. Among them are protection and prevention, detection, and response and recovery. The joint Commvault and Pure Storage solution addresses these categories in the following ways:

• Protection – The Commvault and Pure Storage solution is built on zero-trust principles and includes advanced authentication, storage encryption, and compliance locks to safeguard critical backup data. In addition, the solution has multiple layers of software and hardware immutability, including Pure SafeMode™ Snapshots and S3 Object Locking on the Pure Storage Platform, for enhanced recoverability and additional protection against cyber threats.
• Detection – Commvault helps organizations easily detect and remediate risks, threats, and unusual activity. With proactive risk scanning, AI-assisted anomaly detection, and cyber deception technology that uses decoy devices to hunt threats, Commvault delivers early warning so organizations can coordinate response and accelerate recovery of clean data.
• Response and Recovery – For the most critical systems (e.g., payments), one of the best ways to meet stringent recovery time objectives required by regulations is to use storage-based snapshots. Commvault integrates with Pure Storage to provide rapid recovery of mission critical systems from Pure Storage Platform snapshots that leverage Pure SafeMode.

Commvault also integrates with a wide array of leading cybersecurity and threat intelligence solutions to enable better threat recognition and faster, more coordinated response and recovery.

To address DORA's operational resilience testing requirements Commvault and Pure Storage deliver the ability to continuously test cyber recovery in secure, isolated environments, so organizations can enhance recovery processes and readiness for breaches or outages. Whether testing is conducted on-demand in cloud-isolated tenants via Commvault's Cleanroom Recovery solution or within isolated recovery environments with Commvault's offerings and the Pure Storage Platform, organizations can easily deliver rapid, frictionless recovery of clean data to isolated environments with the flexibility needed to meet operational and data sovereignty requirements.

Enabling organizations to advance resilience is not only applicable to DORA, but supports compliance under other cybersecurity and privacy regulations like the EU's NIS2 Directive and e-mandates from Reserve Bank of India (RBI) for recurring transactions.

"Commvault and Pure Storage are delivering a globally scalable solution for digital operational resilience," said Alan Atkinson, Chief Partner Officer, Commvault. "Whether organizations are trying to comply with DORA or the multitude of new regulatory compliance requirements, we combine exceptional detection, forensics, and reporting capabilities with immutable and rapidly recoverable snapshots in one comprehensive solution."

"The financial sector is under constant threat of cyberattacks that have the ability to undermine economies and consumer confidence. At the same time, cyber regulations are putting stretched IT and security teams to the test," said Patrick Smith, Field CTO, EMEA, Pure Storage. "Through our partnership with Commvault, we are giving financial institutions critical tools that not only help comply with regulations like DORA but advance their cyber resilience to help ensure enterprise data remains secure, protected, and if necessary, recoverable."

For more information about how Commvault and Pure Storage can help organizations ensure compliance, please visit the partner page.

More Details

• Learn how Cloud Rewind is a game-changer in cyber resilience.
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• Hear about the latest in cloud-first cyber resilience at SHIFT. Click here to register for the must-attend virtual conference.

About Commvault

Commvault (NASDAQ: CVLT) is the gold standard in cyber resilience, helping more than 100,000 organizations keep data safe and businesses resilient and moving forward. Today, Commvault offers the only cyber resilience platform that combines the best data security and rapid recovery at enterprise scale across any workload, anywhere—at the lowest TCO.

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SOURCE COMMVAULT

FAQ

When does the EU's Digital Operational Resilience Act (DORA) take effect?

DORA is slated to take effect in January 2025.

What are the key features of the Commvault and Pure Storage joint solution for DORA compliance?

The joint solution offers protection with zero-trust principles, detection through AI-assisted anomaly detection, rapid recovery using Pure Storage Platform snapshots, and operational resilience testing in secure, isolated environments.

How does the Commvault and Pure Storage solution address DORA's risk management requirements?

The solution addresses DORA's risk management requirements through protection and prevention, detection, and response and recovery capabilities, including advanced authentication, storage encryption, and compliance locks.

Can the Commvault and Pure Storage solution help with compliance beyond DORA?

Yes, the solution supports compliance with other cybersecurity and privacy regulations like the EU's NIS2 Directive and e-mandates from the Reserve Bank of India (RBI) for recurring transactions.