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:
‘A stress killer app! We knew there would be a rush of applications through a new eGovernment service we launched. We wanted to use the queue continuously for protection. Queue-Fair provided us with a branded Queue Page and easy-to-use tools to customize and manage our waiting room. Their support was excellent and a pleasure to speak with. Queue-Fair was continuously there for us and what is important for us is that we did get the service we needed. Thank you Queue-Fair!’
‘Takes ALL the stress out! Queue-Fair worked perfectly, was very easy to set up & the support was above and beyond, masterclass in support really. The experience was so seamless and gave us a lot of confidence beforehand. In previous years our site has always crashed which has proven very stressful for everyone involved. Queue-Fair solved this problem, our website didn't crash. It all just worked, just as our onboarding consultant said it would. With Queue-Fair we are confident for even bigger days in the future.’
‘Brilliant. I had a sleepless night worrying the website was going to crash again after the last time we tried to run our popular promotion without Queue-Fair. I'm so delighted to have found your solution. Thanks for your responsiveness - it is hugely appreciated that you got this set up for us in less than a day, and it worked perfectly. Awesome. Lovely stuff. Golden. Thanks again; this means the world to me. I'm going to sleep well tonight. Legendary.’
‘It's amazing! Queue-Fair rocks! Queue-Fair was incredibly useful in controlling the volume of traffic on our website, resulting in a seamless and enjoyable user experience. The system and service are first-rate. Thank you very much Queue-Fair!’
‘The perfect solution for the release of our limited edition figurine! Queue-Fair is very easy to implement and we were well supported and guided in setting up the parameters. The real-time reporting is great and allows us adjust our parameters during the event without crashing our server. We are very satisfied and plan to use Queue-Fair for our future releases.’
‘No nonsense, cost effective queuing system that works. Queue-Fair has helped us both with specific product launches and day-to-day traffic peaks. It's working seamlessly for us - when we take a trial of any technology, we look to make sure a) that it works and b) is cost effective, and Queue-Fair is both, and I'm very happy to continue using the excellent service. We looked at several options but Queue-Fair was the clear winner in terms of price, and it's flawless.’
‘Excellent service. We use Queue-Fair monthly and it has been working great. We called Queue-Fair on Sunday evening because we were doing a drop. They answered immediately and solved the problem within five minutes! They saved our drop and did everything very quickly!’
‘SUCCESS!!! Yesterday went so smoothly that my client cried. Literally. Such a fantastic experience all around. Incredible support. Incredible product that provided an excellent experience for the end user. My client was thrilled as we watched from the Queue-Fair dashboard as the users rolled in to the virtual waiting room then were passed to the site and successfully made their purchases.’
‘Superb! User friendly, easy to set up and get going - and superb business communication! Queue-Fair works great when things heat up, and helps reduce the load of the ticketing website. By building Queue-Fair with ease of use in mind, it enabled the support team to use it - no devs required!’
‘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.’
‘Queue-Fair is a Lifesaver! It was fast and simple to start working with them. Sooo fast and simple - 2 steps 1 day! Massive presale events used to make our site collapse, now people get into a virtual line - very efficient. I recommend Queue-Fair to others, without doubt!’
‘So reactive and easy to integrate! Their team is very reactive: from setup to test and deployment in production, they were able to help us deploy their solution in less than 1 hour. Only few lines of code are required. Website rescuers! Queue-Fair simple to use, quick to integrate and does the job. Avoid website crash!’
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 patented in 2004, Queue-Fair is the original Virtual Waiting Room, providing online queue management for busy websites and apps.
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