How Queue-Fair Helps Financial & Insurtech Firms Achieve DORA Compliance
How Queue-Fair Helps Financial & Insurtech Firms Achieve DORA Compliance
- 25/02/2025
- Commercial
- Mike
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How Queue-Fair Helps Financial & Insurtech Firms Achieve DORA Compliance
Regulatory bodies like the UK's Financial Conduct Authority (FCA) have imposed significant fines on financial institutions for operational failures, including website and system downtimes that adversely affect customers. Here are notable examples that have been widely reported:
‘Queue-Fair is great for our large online retail event. It came across as very intuitive to use and worked absolutely fine. Queue-Fair provides continuity and increases confidence for customer online experience. We definitely have plans for Queue-Fair in the future for events where we are expecting a huge deluge of traffic and participation in larger retail events.’
‘A five-star Queue-Fair Review! The team is extremely professional and kind, very punctual and on point to customer needs. Honestly, we get along well in every aspect. Queue-Fair is an essential tool for managing events with many attendees.’
‘Great platform! Queue-Fair is really easy to use, with great customer support - always respond quickly and clearly. The great live reporting helped us monitor traffic during event launches accurately, and was easy to integrate and brand too. Queue-Fair ensures everyone gets a fair chance at attending our events, which we really value.’
‘Great product, works flawlessly. Easy installation & integration, Excellent reporting, Great communication & support, Value for money and 5 star experience. We're thrilled to say that our ticket sale went smooth! We were sold out on day one with the help of Queue-Fair's virtual waiting room solution, without a single glitch or customer complaint. Queue-Fair is wonderful, and we are very grateful for all the support from the Queue-Fair team - it was perfect. We are a happy Queue-Fair customer!’
‘Extremely great product for traffic control. We needed a smooth user experience on the first days of the launch, which was only achievable by adding Queue-Fair. We liked how easy Queue Fair was to set up in several languages. Code customization possibilities were great, and we aligned the waiting room to our design system. Support was extremely helpful along the way, too. Highly recommended. Queue-Fair did its job great.’
‘Excellent support. Our business has complex commercial demands and the high traffic to our site at specific times and dates was causing huge problems. Queue-Fair now manages these effectively and we have control of the flow of sales. The immediate support available over the phone is brilliant - the Queue Fair team has gone out of their way to problem solve and assist.’
‘I recommend this product! We have an e-commerce in Brazil and our infrastructure is not enough to ensure the demand. Queue-Fair solved my problems! I am happy to use this product.’
‘Communication and the easy use of Queue-Fair's platform really make the product outstanding. We needed a queue for a particularly busy event on our website, and I could see it in real-time, make changes effectively and make sure our website wasn't going to crash. Whenever I had questions or needed support, they were very helpful. I definitely recommend the platform and service.’
‘We needed a solution for Black Friday! Queue-Fair was happy to suit a solution for our need for this occasion, offering a great rate and excellent customer service. We could set up our own personalized waiting page room, our own entrance rate, all well-tailored to our measure. If you need a tailor-made solution that won't empty your pockets, Queue-Fair is the way to go!’
‘Very useful tool and excellent technical assistance. I highly value its smooth operation. It is helping us to manage successfully times of high user traffic on our website. We are more productive thanks to its tool since it allows us to dedicate efforts to other tasks, leaving its part well covered.’
‘We solved our extreme overload on website problem with Queue-Fair. We are very happy and we want to stay with them for the future, the service and support is excellent! Very easy, and extremly helpful staff! All went so smooth with implementation! There is nothing to dislike with this company!’
‘We run an online booking site for athletic events. We needed a solution that would help us cope with the load of lots of people trying to be the first to book. Queue-Fair's PreSale page held the load away from our servers before the bookings opened, and then placed people fairly into an online queue, feeding the visitors back to our site at the rate we chose. The solution and support is excellent, perfect for our needs and at an affordable cost too. We're delighted with the system and it's full of useful features, like the capability for people in the queue to switch devices without losing their place. Our visitors even tell us this is a good idea to control the traffic to our site. Having started with a specific event, we are now happily protecting our whole site with Queue-Fair.’
These incidents highlight the importance for companies to anticipate potential surges in online activity, especially when setting customer deadlines, and to ensure their digital infrastructure can handle increased traffic to prevent service disruptions.
These cases underscore the importance of robust IT infrastructure and operational resilience in the financial sector. Regulators like the FCA hold institutions accountable for system failures that disrupt customer access and market stability.
The Digital Operational Resilience Act (DORA) is a game-changer for the financial and insurance sectors, mandating strict cybersecurity, operational resilience, and risk management requirements. As of January 17, 2025, all financial institutions and their technology providers operating within the EU - or serving EU-based customers - must comply with these regulations.
For banks, insurers, fintechs, and insurtech firms, DORA represents both a challenge and an opportunity. Compliance will enhance security, build trust, and unlock innovation, but failure to meet the requirements could lead to fines, reputational damage, and operational downtime.
A key concern for compliance is managing traffic surges, cyberattack resilience, and system availability - especially for AI-driven financial processes. This is where Queue-Fair.com provides a proven and trusted solution.
Why DORA Compliance Matters for Financial & Insurtech Firms
DORA is part of a broader EU effort to harmonize cybersecurity laws and strengthen the digital resilience of financial services. It mandates:
Beyond avoiding regulatory fines and reputational risks, compliance helps future-proof businesses, enabling them to integrate cutting-edge technologies responsibly.
Queue-Fair's virtual waiting room technology is already trusted by governments and financial institutions across Europe to manage peak demand, prevent downtime, and protect systems from cyberattacks.
Government agencies across Europe rely on Queue-Fair to handle high-traffic events, prevent cyber disruptions, and ensure digital services remain operational:
This proven track record makes Queue-Fair the ideal partner for financial institutions complying with DORA regulations.
DORA mandates businesses to plan for ICT disruptions. Queue-Fair prevents system crashes and overloads by intelligently managing high-demand periods - whether for policy applications, claims processing, or regulatory filings - ensuring systems remain stable.
Firms must conduct resilience testing and establish risk frameworks. Queue-Fair smooths out demand surges, ensuring financial platforms remain accessible, compliant, and secure during peak traffic events.
DORA requires AI systems to maintain automatic logs and record-keeping mechanisms. Queue-Fair's real-time tracking ensures transparent user management, providing a clear audit trail for regulatory review.
Regulators expect financial services to treat customers equitably, especially when demand is high. Queue-Fair operates on a first-come, first-served basis, preventing discrimination, system overloads, or unfair access issues.
DORA extends compliance requirements to technology providers. With built-in traffic filtering, Queue-Fair blocks bot attacks, mitigates denial-of-service risks, and safeguards systems from malicious overload attempts aligning with DORA's cyber resilience goals.
The Digital Operational Resilience Act (DORA) mandates that financial entities establish robust Information and Communication Technology (ICT) risk management frameworks, which include comprehensive incident reporting mechanisms. Queue-Fair's customer portal reporting page can significantly aid finance businesses in meeting these DORA compliance requirements by April 2025 through the following features:
Real-Time Monitoring and Incident Reporting: Queue-Fair provides real-time tracking of website traffic and system performance. This continuous monitoring enables financial institutions to promptly detect and document ICT-related incidents, ensuring timely reporting to regulatory authorities as required by DORA.
Detailed Analytics and Audit Trails: The platform offers in-depth analytics, capturing data on user interactions, traffic patterns, and system responses. These detailed records create a comprehensive audit trail, facilitating transparent reporting and aiding in post-incident analysis to prevent future occurrences.
Operational Resilience Testing Support: Queue-Fair's reporting tools assist in evaluating system performance during stress tests and simulated cyberattacks. By analyzing how systems handle peak traffic and potential threats, financial entities can assess their operational resilience and identify areas for improvement, aligning with DORA's resilience testing requirements.
Third-Party Risk Management: Utilizing Queue-Fair allows financial institutions to monitor and manage interactions with third-party ICT service providers effectively. The reporting page offers insights into third-party performance and any associated risks, ensuring that all external partners comply with DORA's stringent standards.
While the primary compliance deadline for the EU's Digital Operational Resilience Act (DORA) was January 17, 2025, there are subsequent milestones that financial entities must be aware of:
1. Submission of Registers of Information. Financial entities are required to maintain comprehensive registers detailing their contractual arrangements with Information and Communication Technology (ICT) service providers. These registers must be submitted to their national competent authorities (NCAs) by April 4, 2025.
2. NCA Reporting to European Supervisory Authorities (ESAs). Following the submission from financial entities, NCAs are obligated to report these registers to the ESAs by April 30, 2025
Financial entities should utilize this period to finalize and review their registers of information to ensure timely submission by the April deadlines.
Additionally, for financial institutions operating in the United Kingdom, the UK Operational Resilience Rules mandate full compliance by March 31, 2025. These rules, while separate from DORA, share similar objectives in enhancing the operational resilience of financial services.
Therefore, depending on your operational jurisdiction, March 2025 serves as a critical period for ensuring compliance with the relevant operational resilience regulations. Queue-Fair can be a big part of that.
Financial and insurtech firms should have already prepared for the January 2025 deadline that has now passed, by:
As you prepare for the next deadline, by adopting Queue-Fair's technology, financial institutions can seamlessly comply with DORA while improving customer experience, security, and system stability. More than just a compliance tool, Queue-Fair is an enabler of digital transformation, helping businesses unlock new innovations responsibly.
Protect your operations, stay compliant, and ensure business continuity, with Queue-Fair
Invented and originally patented in 2004, Queue-Fair is the original Virtual Waiting Room, providing online queue management for busy websites and apps.
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