News
IT for financial services
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November 17, 2021
17
Nov'21
Amazon to stop accepting Visa credit cards in UK due to high fees
Online retail giant Amazon will stop accepting UK Visa credit card payments from January next year
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November 16, 2021
16
Nov'21
Blueprint for future high street shows tech’s role in creating thriving communities
Technology will play an important role in creating thriving communities after Covid-19 lockdowns renew interest in local high streets
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November 16, 2021
16
Nov'21
Can UAE become a world leader in AI?
The UAE has launched multiple programmes as it bids to be a world-leading location for artificial intelligence innovation
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November 15, 2021
15
Nov'21
UK government proposes new rules for digital supply chain security
Proposals could see IT service providers legally required to adhere to the NCSC’s Cyber Assessment Framework, among other things
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November 15, 2021
15
Nov'21
CaixaBank system normal after migration of millions of customer accounts
Spain’s CaixaBank has successfully completed the migration of millions of Bankia customers to its systems
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November 12, 2021
12
Nov'21
Cost reduction is still the biggest driver of banks’ cloud adoption
More than 80% of banks now have a clear cloud strategy following a injection of urgency during the Covid-19 pandemic
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November 12, 2021
12
Nov'21
CaixaBank to complete IT integration of Bankia in two days
Spanish bank embarks on a massive migration of customer accounts following merger
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November 11, 2021
11
Nov'21
Finance ombudsman overturns more than three-quarters of bank decisions on APP fraud
The financial services ombudsman is siding with customers in over 75% of complaints against banks that refuse to repay losses to authorised push payment fraud
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November 11, 2021
11
Nov'21
Bank of England loses 161 computing devices in three years
Bank cannot account for phones, laptops and tablets that have gone missing over the past three years
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November 11, 2021
11
Nov'21
Financial Conduct Authority chooses Aiimi for improved information discovery
The Financial Conduct Authority has awarded a three-year contract to UK enterprise search firm Aiimi to enable the regulator’s staff to find documents more easily and collaborate better
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November 10, 2021
10
Nov'21
Traditional banks could get revenue boost if they copy digital challengers
Traditional banks could see huge sales increases if they adopted the business models of their digital challengers
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November 09, 2021
09
Nov'21
Standard Chartered picks Starling Bank tech for product launch
Standard Chartered able to quickly launch new product through fintech platform
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November 09, 2021
09
Nov'21
Blockchain technology will help banks will cut cross-border payment costs by $10bn in 2030
The use of blockchain technology in cross-border payments will save global banks $10bn in 2030, according to research
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November 09, 2021
09
Nov'21
Singapore ups ante in AI with sectoral programmes
Singapore launches two national AI programmes to bolster adoption of AI by financial institutions and the public sector
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November 08, 2021
08
Nov'21
CME Group signs 10-year cloud and product innovation deal with Google
CME Group, one of the world’s largest financial derivatives exchange operators, has signed a multi-year infrastructure migration deal with Google Cloud
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November 07, 2021
07
Nov'21
Technology spending reaches record levels, fuelling jobs boom
Spending on IT has reached its highest levels for a decade but a shortage of skilled IT professionals could dampen growth
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November 05, 2021
05
Nov'21
Inside Krungsri Bank’s open API journey
Thailand’s Krungsri Bank has been harnessing open application programming interfaces to enable its partners to build new services in a strategy that has won over customers from rival banks
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November 04, 2021
04
Nov'21
Women grossly underrepresented in global fintech
Women are CEOs at less than 6% of global financial technology firms and even fewer hold top tech jobs
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November 03, 2021
03
Nov'21
Quarter of people don’t plan to visit a bank branch again
A quarter of people have no intention of visiting a bank branch again after experiencing the benefits of digital banking when branches were closed during Covid-19 lockdowns
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November 02, 2021
02
Nov'21
HSBC standardises on DevOps platform
HSBC to standardise and automate software development through CloudBees platform
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November 01, 2021
01
Nov'21
Payments through open banking could end card dominance
Payments made through open banking will eat into those made using cards as the next five years sees an acceleration in adoption
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October 27, 2021
27
Oct'21
TechUK slams government gift to big banks that will disadvantage fintechs
The government will put challenger banks at a disadvantage through its reduction in the bank profit surcharge, says TechUK
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October 27, 2021
27
Oct'21
TSB opens 100-seat tech centre in Scottish capital
TSB has opened its latest tech centre in Scotland while IT services provider CGI announces the creation of hundreds of UK tech jobs
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October 26, 2021
26
Oct'21
Thought Machine: Google-inspired banking fintech to unicorn and beyond
UK fintech unicorn Thought Machine is transforming the IT of large traditional banks, while working with fledgling digital-only challengers
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October 21, 2021
21
Oct'21
German regulator imposes limit on number of new customers digital bank can sign each month
BaFin limits the number of new customers that digital bank N26 can enrol until it is reassured on issues it has raised about the company
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October 20, 2021
20
Oct'21
Lloyds Bank closes more branches as customers migrate to digital channels
Banking group has announced more closures as part of the ongoing reduction of its branch network
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October 20, 2021
20
Oct'21
Oracle NetSuite embeds HSBC corporate banking services into ERP
Oracle Netsuite integrates HSBC corporate banking services into its latest software
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October 20, 2021
20
Oct'21
American Express announces global hybrid working model
US credit card giant is latest corporate to formalise hybrid working following the success of informal policies introduced during the Covid-19 pandemic
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October 19, 2021
19
Oct'21
Zopa becomes unicorn with latest funds to go to bank operation
Zopa will invest in its growing digital bank operation after becoming a unicorn in its latest fund-raising round
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October 15, 2021
15
Oct'21
Global IT outsourcing sees record spending and no sign of slowing
Cloud services are being taken up by enterprises rapidly as they accelerate digital transformations
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October 14, 2021
14
Oct'21
Darlington Building Society invests in platform for digital transformation
Building society is looking to satisfy existing customers and attract new ones by meeting their digital service-level expectations
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October 14, 2021
14
Oct'21
FCSA clarifies anti-tax avoidance stance of offshore Charter change for umbrella firms
The Freelancer and Contractor Services Association (FCSA) has published a revised version of its membership Charter to reinforce its commitment to ensuring its members do not operate offshore tax avoidance schemes
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October 14, 2021
14
Oct'21
SocGen to cull thousands of jobs and move to single IT platform in merger with subsidiary
French bank’s move to a single banking platform will enable it to cater for changing customer demands
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October 12, 2021
12
Oct'21
Morgan Stanley brings diverse fintech innovation to London
US bank expands its diversity-focused fintech accelerator programme to Europe with an initial £1m investment
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October 12, 2021
12
Oct'21
Nearly half of finance firms will acquire or partner fintechs in next year
UK financial services firms are preparing to acquire or partner fintechs as they target business growth
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October 11, 2021
11
Oct'21
Sensitive documents to stay with whistleblower after deadline for agreement for their return passes
A deadllne to agree the safe return of the sensitive banking details of former and current NatWest Group customers has passed without agreement
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October 08, 2021
08
Oct'21
NatWest admits to weaknesses in anti-money laundering systems
Bank pleads guilty to failures concerning the laundering of hundreds of millions of pounds, but says it has since improved its anti-money laundering systems
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October 06, 2021
06
Oct'21
US lawmakers propose ransomware reporting rules
Former presidential candidate Elizabeth Warren lends her support to a bill that would require corporate ransomware victims to disclose more information about their attacks to the authorities
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October 06, 2021
06
Oct'21
Tech Nation adds 30 fintech scaleups to growth programme as funding continues to rise
UK government-backed startup network adds 30 fintechs to its growth programme amid record investments in finance tech sector
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October 05, 2021
05
Oct'21
Microsoft’s financial services cloud available next month
Financial finance sector-focused cloud service will be available at the beginning of November
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October 04, 2021
04
Oct'21
Mastercard acquisition of Aiia is a further sign of open banking’s big future
Mastercard’s acquisition of Denmark-based open banking fintech Aiia follows rival’s takeover of Sweden’s Tink
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October 01, 2021
01
Oct'21
IR35: Giant Group cyber attack prompts renewed calls for statutory regulation of umbrella companies
As details about the fallout from the cyber attack on the Giant Group umbrella company emerge, stakeholders say the incident should prompt the government to expedite regulating contractor payroll processing firms
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September 30, 2021
30
Sep'21
Digital bank fined by regulator due to weak anti-money laundering controls
German digital bank is fined by financial services regulator for failing in relation to its anti-money laundering practices
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September 30, 2021
30
Sep'21
Starling Bank takes its banking-as-a-service into European Union
API-based banking-as-a-service offering means customers can access services such as current accounts or debit cards without the need for heavy tech development or regulatory approval
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September 29, 2021
29
Sep'21
Dedicated number for victims of fraud launched amid national security threat
Consumers that suspect they are being targeted by fraudsters can call 159 to be directly linked to their bank, as part of a 12-month pilot
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September 29, 2021
29
Sep'21
Women in fintech welcome Barclays initiative and demand more from the sector
Women in UK financial technology have welcomed bank’s new female-focused lab and funding initiative and call for more like it from the sector
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September 29, 2021
29
Sep'21
JP Morgan Chase digital investment good for UK IT sector, but what’s in it for the bank?
JP Morgan Chase’s digital bank allows it to start from scratch in the UK, with no legacy infrastructure to overhaul
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September 29, 2021
29
Sep'21
UK consumer trust in banks, retailers and telcos declines as scams increase
Consumers are blaming banks, retailers and social media for the huge increase in online scams, survey shows
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September 28, 2021
28
Sep'21
Dutch IT firm transforms HR policy built on lessons from pandemic
Software firm rips up human resources rule book and replaces it with a hybrid working policy
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September 27, 2021
27
Sep'21
Giant Umbrella contractors suffer salary payment delays following suspected ‘data breach’
Following the discovery of “suspicious network activity” in its systems, payroll processing firm Giant Umbrella has taken itself offline, leaving contractors to fume over missing salary payments