NoFrixion Selects CalQRisk for its DORA Compliance Efforts

NoFrixion, the Embedded Banking company based in Dublin, Ireland, has announced its partnership with CalQRisk to ensure compliance with the EU’s Digital Operational Resilience Act (DORA). This move reinforces NoFrixion’s commitment to operational resilience and regulatory alignment across the European digital financial landscape.  

Ensuring Digital Resilience in a Complex Regulatory Environment 

As financial services continue to digitise at a rapid pace, the regulatory focus on operational resilience has increased significantly. DORA, which comes into effect in January 2025, is a ground-breaking EU regulation designed to ensure the stability and security of the financial sector’s IT systems, particularly in the face of escalating cyber threats and operational challenges.  

Why CalQRisk? 

After a thorough evaluation of potential partners, NoFrixion chose CalQRisk based on its extensive experience in managing operational risk, its track record of providing tailored compliance solutions, and its specific expertise in digital resilience for financial institutions. CalQRisk’s platform integrates risk management with compliance workflows, ensuring that all aspects of DORA – including risk mitigation, incident reporting, and third-party oversight – are meticulously managed. On top of all of this, the solution allows the Register of Information to be maintained and generated at the click of a button.

Feargal Brady, CEO of NoFrixion, said:

“We chose CalQRisk because of their proven expertise in managing operational risk and compliance. Their platform provides the robust framework we need to meet DORA’s requirements with confidence, ensuring NoFrixion continues to deliver secure and resilient digital payment solutions while staying ahead of regulatory demands.” 

 Future-Proofing Digital Payments 

CalQRisk delivers a range of risk management capabilities tailored to NoFrixion’s operational and regulatory needs. These capabilities include automated compliance monitoring, incident response planning, and detailed reporting mechanisms that will ensure full transparency and accountability. This alignment with DORA requirements will also support NoFrixion in managing third-party relationships, a key area of focus under the new legislation. 

Speaking on the partnership, Chris Hanlon, CEO of CalQRisk, said:

“We are delighted to work with NoFrixion, a multi-award winning company at the cutting edge of embedded finance, to support their DORA compliance. CalQRisk’s platform is designed to help organisations navigate the increasingly complex regulatory landscape with confidence. By automating risk management and ensuring continuous oversight, NoFrixion will be well-equipped to meet the evolving challenges of digital operational resilience.” 

 Find out more about the CalQRisk DORA solution here.

About NoFrixion

NoFrixion is a cloud native financial institution designed for modern finance teams to manage money efficiently and effectively. Their award-winning platform enables the automation of money operations, which have traditionally relied on tools such as internet banking, and which involve complex and error-prone manual processes. NoFrixion is authorised by the Central Bank of Ireland as an Electronic Money Institution.  

About CalQRisk

CalQRisk is a premier provider of integrated risk management and compliance solutions, offering organisations the tools they need to manage their risk and compliance obligations effectively. CalQRisk serves a diverse range of industries, helping them to navigate the complexities of regulatory requirements with confidence.