Top 10 financial services stories of 2009

Top 10 financial services stories of 2009...

1. London Stock Exchange to replace Tradelect with Millennium

The London Stock Exchange is dumping its Tradelect core trading platform in favour of a system from Sri Lanka-based MillenniumIT, Computer Weekly revealed

2. Poor IT saved Northern Rock

The use of inadequate IT systems at Northern Rock was a reason the government decided not to let the bank go out of business.

3. Photos: Ten financial casualties following Lehman Brothers collapse

The collapse of investment bank Lehman Brothers after 150 years of operation a year ago shattered the foundations of the financial system that world stability relies on.

4. Lloyds tells IT contractors to accept 15% pay cut or leave

An e-mail sent to IT contractors by Lloyds Banking Group revealed that their pay is being cut by 15%. The bank has told contractors to accept the offer or leave.

5. The truth about banks, Facebook and Twitter

It is a "blip", a "total load of bollocks" and a bandwagon that cannot be missed, all in one. The successes of websites such as Facebook are mere blips, but what comes after them will define how businesses are run in the future, according to financial experts.

6. Standard Life keeps IT fresh with enthusiasm and experience

Sandy Crombie joined Standard Life in the 1960s in the IT department. Some of the code he helped to develop back then is still in use today. He became CEO in 2004.

7. HSBC one platform strategy pays for itself

HSBC's strategy to create a single technology platform is paying for itself mid-way through its implementation, said the bank.

8. IT trends in banking: key focus for 2009

European banks will invest in IT this year to improve risk management, increase flexibility and reduce complexity. And they will outsource and offshore more work in the process, according to new research.

9. How social engineering cracked a FTSE company

Businesses spend a lot of time and money creating information security systems, but they often overlook physical security measures. The ease with which a security consultant managed to trick his way into a FTSE financial firm and help himself to confidential data is a warning to businesses.

10. E-bank Japan sets mobile banking example

Imagine you are a bank with no branches or ATMs, almost three million customers and only 195 employees in total. This is e-bank Japan, which provides 24-hour real-time electronic services.

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