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.’
‘When we opened COVID vaccinations to 16-29 year-olds, we turned to Queue-Fair for help, who quickly set us up with a fully branded Virtual Waiting Room. That afternoon, Queue-Fair fairly queued 450,000 people for us. Queue-Fair meant our system was able to accept bookings at a rate it could handle, without overload. We're very grateful for the exceptional support from Queue-Fair, and we launched with great success. The queue worked perfectly, and helped us to overcome a punctual uncovered technical problem that otherwise would have ruined the campaign. Thank you very very much Queue-Fair for your offering! It’s much appreciated. Queue-Fair saved us!’
‘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!’
‘This solution has enabled me to manage online sales, without any hassle. It's an easy-to-use solution that lets us intervene in real time on the flow of visitors we let through. Easy to configure, you can even customize the visuals and texts of the queue. Special thanks to Matt who explained it all to me in French, available and efficient, thanks again Matt! Before using this service, our web server was experiencing slowdown problems and was becoming inaccessible. By controlling the flow of visitors, we were able to rectify this problem.’
‘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!’
‘Great Service & Support. Super quick installation and exceptional value for money, compared to competitors. Everything went well. No crash on our website during a special launch. Thank you Queue-Fair for the great service you provided to our company. We surely recommend the Queue-Fair service to other people!’
‘Queue-Fair is a solid platform with great customer service. Their robust and fair queuing system took away a lot of the stress of running a flash sale. There's nothing to dislike! Give it a go, you won't be disappointed.’
‘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.’
‘Aside from the system itself, which works very well, what makes Queue-Fair stand out from the others is the people behind it. They were there to answer all of my questions, to help me with my implementation and even when I was ready to go into production, they were still there! I can rest easy knowing that peak demand will no longer cause problems on my system. Everything is Perfect!’
‘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!’
‘Robust, lifesaver and easy to implement! We love how fast you can start using it and with a very user-friendly interface. There are no downsides of using Queue-Fair, which solved our problem of high traffic management in certains moments so we don't miss any sales and keep customer experience good as possible! Everything that I was expecting to resolve my problems with high traffic was resolved as soon as I implemented Queue-Fair.’
‘Perfect solution for our Shop. Perfect service, they answered my mail even in the night! Best service I encountered over the last years. Impressive fair pricing! We're more than happy with the service. We usually get high peaks of users every once in a while, with Queue-Fair we finally could manage to get our servers stable again and the selling process is just perfect.’
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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