Future Governance Blog - Strategic Foresight & AI Governance Insights

DORA, NIS2, and the AI Act: Why Traditional Compliance is Breaking in Financial Services

Written by Pedro Tavares | Jan 20, 2026 5:00:28 PM

Regulatory compliance used to be more predictable. Directives came with transposition deadlines. Regulations applied directly. Organizations had frameworks to manage implementation.

Now the system is under stress.

Digital Operational Resilience Act (DORA), a Regulation introduced by the European Union to strengthen the digital resilience of financial entities became enforceable one year ago, applying uniformly through all member States. NIS2, a Directive that establishes a unified legal framework to uphold cybersecurity in 18 critical sectors across the EU is fragmenting: 19 countries received formal warnings in May 2025 for missing the October 2024 deadline. As of January 2026, 8 countries still need to transpose the Directive. Finally, the AI Act adds penalties up to €35 million or 7% of global turnover, phasing in through 2027.

Three major frameworks. Different legal mechanisms. Overlapping enforcement. Each affects how the others apply.

Three Regulations, Three Different Realities

Consider a financial institution expanding to Belgium, Luxembourg, and Ireland:

  • DORA: Uniform application across all markets
  • NIS2: Belgium enacted early. Ireland still in process. Luxembourg transposed with jurisdiction-specific variations
  • AI Act: First deadline hit February 2, 2025. General-purpose AI obligations start August 2, 2025

Different teams track different pieces: compliance monitors national rules, legal analyzes EU directives, IT implements technical requirements, strategy plans expansion. No framework or even system connects these to show: "What are the five regulatory intersections affecting our roadmap over the next 18 months?"

Why Organizations Are Struggling: Five Challenges

  1. Cross-Regulation Dependencies
    GDPR affects AI Act compliance. NIS2's 24-hour incident reporting must integrate with DORA's ICT classification criteria.
  2. National Variations
    Italy and Slovenia extended NIS2 sector coverage. Belgium added governance requirements. Hungary requires local registration regardless of headquarters.
  3. Timeline Misalignment
    DORA: January 2025. NIS2: October 2024 (missed by 19 countries). AI Act: Phased through August 2027.
  4. Siloed Response
    Compliance, legal, IT, and strategy operate independently. Each sees part of the picture. No team owns the intersections.
  5. Cascading Requirements
    A digital lending platform needs DORA operational resilience, NIS2 cybersecurity, AI Act documentation, and GDPR privacy controls. Miss one, the entire timeline slips.

The Hidden Cost: Strategic Delays

Since GDPR came into force in 2018, organizations faced €1.2 billion in fines. But operational disruption cost more: product launches delayed, expansion plans halted, customer onboarding slowed.

And yet, the pattern is repeating:

DORA: The ECB's 2024 Guide requires exit strategies in place before systems go live, a shift from developing plans during contract implementation. Financial entities must maintain ICT service registers, assess concentration risks regularly, and ensure contracts include audit rights and termination provisions.

NIS2: Scope extends to postal services, chemical sectors, food distribution. Banks can't complete compliance until suppliers in delayed-transposition countries finalize theirs.

AI Act: Phased implementation began February 2, 2025, with penalties up to €35 million or 7% of global turnover for serious violations. High-risk AI systems, including credit scoring and fraud detection, require comprehensive technical documentation, risk assessments, human oversight, and regular monitoring throughout the system's lifecycle.

What Anticipatory Compliance Looks Like

Leading institutions operate differently. They track draft standards months before adoption, identify gaps, and begin remediation early rather than waiting for final publication. Standing committees bring together compliance, IT, legal, risk, and strategy teams to connect regulatory intelligence to quarterly plans. Vendor management becomes strategic: organizations map dependencies against regulatory timelines and assess third-party readiness as part of procurement decisions. Strong strategic, data-driven, and legal monitoring capabilities guide market entry choices.

Institutions prioritize jurisdictions where regulatory frameworks are already in place over markets still resolving transposition uncertainties. When similar legal requirements exist across multiple countries, organizations sequence expansion to minimize compliance friction and accelerate time to market. The AI Act requires lifecycle documentation, so financial entities embed decision logs, risk assessments, and testing results in development workflows from inception rather than treating them as checklists before launch.

Three Strategic Opportunities

  1. Operational Resilience as Differentiator
    DORA enables uptime SLAs competitors can't match. Process transactions during incidents that disable others.
  2. Cybersecurity as Partnership Enabler
    41% of non-NIS2 entities face compliance requests from partners. Strong posture creates B2B opportunities.
  3. Ethical AI as Trust Driver
    Exceeding AI Act minimums builds trust that translates to customer acquisition, retention, and premium pricing for "ethical AI" products.

Questions for Leadership

Financial institutions have compliance teams, legal counsel, IT departments, and strategy groups. What's missing is the layer connecting these before intersections become collisions.

  1. Regulatory Intersection Visibility
    Can leadership see how DORA, NIS2, and AI Act affect roadmaps differently across jurisdictions?
  2. Cross-Functional Coordination
    Do teams meet regularly to map regulatory changes to business initiatives before decisions lock in?
  3. Vendor Regulatory Readiness
    Are providers assessed for compliance during selection—or discovered after contracts are signed?
  4. Jurisdiction Intelligence
    Is market entry informed by implementation status, or proceeding without considering transposition progress?
  5. Scenario Planning
    Are decisions tested against multiple regulatory futures visible in consultation documents?

As of January 2026, financial institutions face the most complex regulatory environment the sector has seen. DORA is enforceable. NIS2 is fragmenting across 27 member states. The AI Act is phasing in with billion-euro fines. Each regulation changes how the others apply.

Organizations that can anticipate intersections and turn cascading requirements into competitive positioning aren't waiting for regulations to arrive. They're already three quarters ahead.