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adesso supports financial companies with GenAI tool to review DORA compliance of contracts

After 17 January 2025, the European Union's Digital Operational Resilience Act (DORA) will require all financial companies based in the EU to improve their IT resilience. This also encompasses making clear contractual arrangements with third-party ICT service providers and their sub-service providers. The contracts concluded must satisfy certain information security standards in order to ensure robust IT operations. With the new Compl.A I analysis tool, adesso assists banks and insurance companies with checking contracts and related documents for DORA compliance.

As a Software-as-a-Service solution, Compl.AI uses GenAI technology and the collective knowledge of adesso's DORA experts to conduct a fast, automated gap analysis of contracts and documents to review compliance with all DORA requirements. The tool clearly defines whether the requirements have been fully, partially or not fulfilled, including source and page references. This significantly reduces the burden on banks and insurance companies, which often have hundreds of contracts in place with different ICT service providers. Laborious manual checks by in-house specialists or expensive external reviewers are now a thing of the past.

Compl.AI offers a quick and secure overview of extensive contract documents thanks to a customisable question catalogue. The tool guarantees consistent quality when analysing contracts, regardless of the number and complexity of the contracts. It also simplifies reporting. The software gives companies an initial analysis to ensure DORA compliance by the time the EU regulation enters into force in January 2025. It is also possible to re-examine amended contracts or perform another check if regulatory requirements are updated.

“Many financial companies are not yet optimally prepared for DORA. They don't have the technical and human resources to thoroughly review extensive contracts,” explains Mark Lohweber, CEO of adesso and expert for financial services. “Compl.AI significantly reduces the workload involved and not only saves time and costs, but also prevents human errors that can occur with manual analyses and lead to inconsistencies or compliance violations.”


Mark Lohwerber, CEO of adesso SE (Source: adesso)

More information on Compl.AI can be found at: www.adesso.de/en/services/itmc/compl-ai.jsp


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