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:
‘Our website and services could not satisfy the peak demand of our offers. Queue-Fair saved our bacon! Straightforward to understand and easy to implement, with great support throughout the process. We can now run our campaigns reliably, confident that our website will cope.’
‘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!’
‘Amazing support, everything works from the get-go. Queue-Fair is helping us reducing high demand on our website, preventing it from crashing. The steps to get up and running were far easier than expected, and the support has been phenomenal. The documentation is very clear and concise. While the queue was running, no issues were detected whatsoever. Overall, it's the perfect solution for us. Everything has been excellent.’
‘Just what we needed! Feedback was really good and Queue-Fair worked how we needed it to. If you've got thousands of people hitting refresh on a large ticket onsale you need a safety net! The costs of having Queue-Fair compared with the costs of database issues or dealing with angry customers means it is a no brainer. We're really happy with it!’
‘It just works! That was the easiest launch we've had this year by some way. We sold out of our four main products and made 20% more than projected. The queue system enabled people to feel they had more time to shop so they added other items to their basket. Watching our launch in real time has given us a major insight into our future product launches too.’
‘Demand for our Totally Roarsome event was off the charts! I'm really pleased I reached out to Queue-Fair. You've been incredibly helpful. Above and beyond the call of duty. They got it all set up so quickly - a fully branded virtual waiting room in just a day, and the queue worked perfectly. Our booking system would have been completely overwhelmed without Queue-Fair. We had over 16,000 people in the queue. Can't believe the queue cost us less than £150! Thanks so much!’
‘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.’
‘We turned to Queue-Fair to help our popular booking service during peak times. It took the load off our servers as you would expect - that's its job. Queue-Fair has been great experience-wise and we're very happy - it's great customer service like this that makes all the difference. We'd happily turn around to other customers and tell them, "Use this system!" The Queue-Fair system is really flexible and I can see that it is working for us - at a great price too. I think it's a brilliant service - I can't praise it enough. My last two weekends have been the most relaxing ones I've had in months - Queue-Fair has completely de-stressed the situation for us. I'd even go so far as to say it has saved my mental health - it's fantastic!’
‘Perfect service that helped us with our busiest time of year. They were a pleasure to deal with, providing flexibility where we needed it and excellent support with fast response times. The service precisely fit our needs.’
‘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.’
‘Reduced the stress of our online store launch day! We launched a brand new website on the same day that we opened for orders this year. Launch day provides a huge rush of customers to our website and having Queue-Fair in place helped us to feel at ease throughout this experience. We received zero emails from customers about the queue (which we attribute as a sign that it was all working well). The queue was easy to integrate into our website. Our experience with the Queue-Fair team was smooth and professional, and best of all our customers had a great experience! We appreciated the peace of mind that having Queue-Fair provided.’
‘Great service with great team! Easy boarding, efficient to cope with peak loads! High availability of the service!’
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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