News

Financial applications

• May 01, 2020 01 May'20

  Subpostmasters receive their ‘inadequate’ damages over Horizon IT scandal

  Subpostmasters who had their lives ruined by the Post Office’s faulty IT system have received their damages after a High Court victory

• April 28, 2020 28 Apr'20

  Met Police assessing evidence of potential perjury in Post Office IT trials

  Force examines information about evidence given in court by Fujitsu staff on the Horizon IT system before deciding whether to investigate further

• April 15, 2020 15 Apr'20

  Coronavirus: Lloyds Bank to give thousands of tablet devices to over-70s

  Banking group is giving away tablets and basic digital training to help vulnerable customers stay connected during the UK’s Covid-19 lockdown

• April 08, 2020 08 Apr'20

  What next for subpostmasters’ miscarriage of justice appeals?

  Computer Weekly looks at the next stages in the process to clear the names of subpostmasters wrongly prosecuted for the crimes of theft and false accounting

• March 27, 2020 27 Mar'20

  How subpostmasters made legal history with biggest referral of potential miscarriages of justice

  Subpostmasters seeking redress of prosecutions at the hands of an IT system force the biggest ever UK referral of cases of potential miscarriages of justice to the Court of Appeal

• March 26, 2020 26 Mar'20

  Subpostmaster prosecutions to be considered by Court of Appeal for miscarriages of justice

  The Criminal Cases Review Commission is referring 39 subpostmaster prosecutions to the Court of Appeal to review for possible miscarriages of justice, with further analysis on 22 more cases ongoing

• March 25, 2020 25 Mar'20

  Meeting reviewing subpostmaster applications to appeal criminal prosecutions moves into second day

  The Criminal Cases Review Commission has extended a meeting considering subpostmaster applications to appeal criminal convictions resulting from a faulty Post Office IT system

• March 24, 2020 24 Mar'20

  Norwegian banking app gives access to other banks’ accounts

  Banking customers can access and make payments from their other bank accounts using the DNB Mobile Bank app

• March 24, 2020 24 Mar'20

  Coronavirus: Contactless spending limit increased to fight pandemic

  Banking and financial services trade body UK Finance to increase spending limit for contactless payments to £45 from the start of April

• March 24, 2020 24 Mar'20

  Coronavirus: Fintechs create Covid Credit to help self-employed prove income loss

  Financial technology professionals have created a tool that will support self-employed people claiming financial relief from the government during the Covid-19 pandemic

• March 23, 2020 23 Mar'20

  Coronavirus: Post Office postpones subpostmaster compensation scheme amid Covid-19 crisis

  Scheme to compensate subpostmasters who suffered because of computer errors in the Post Office’s Horizon system is delayed

• March 20, 2020 20 Mar'20

  MP warns minister not to parrot civil servants’ lines on Post Office IT scandal

  MP Kevan Jones has warned a government minister not to repeat the mistakes of predecessors in relation to the Post Office Horizon IT scandal

• March 19, 2020 19 Mar'20

  IT Priorities 2020: ANZ firms to spend more on cyber security

  Over half of respondents in Australia and New Zealand plan to invest more in cyber security, especially in key areas such as data loss prevention

• March 18, 2020 18 Mar'20

  Employment and investment in UK tech sector booms

  UK digital tech sector continues rapid growth in 2019, attracting record investment for another year

• March 17, 2020 17 Mar'20

  Travelex under threat as insolvency risk, hacking costs and coronavirus take their toll

  Foreign exchange group’s future remains uncertain as its parent company, Finablr, prepares for potential insolvency

• March 16, 2020 16 Mar'20

  Secret Post Office deals cause fury among Horizon IT scandal campaigners

  The Post Office has sparked anger with secret settlements with subpostmasters outside the recent legal action against it

• March 12, 2020 12 Mar'20

  CIO interview: Miguel Rio Tinto, Emirates NBD

  The Dubai-based banking group’s CIO, Miguel Rio Tinto, talks about its ambitious digital transformation plans

• March 12, 2020 12 Mar'20

  Dutch landscape attracts fintech exploration

  In 2019, the Netherlands had more than 450 companies active in financial technology. The country’s “polder model”, in which new and traditional companies work closely together, offers many opportunities for fintechs

• March 10, 2020 10 Mar'20

  MPs told to hold to account those responsible for Post Office Horizon IT scandal

  Subpostmasters who had their lives destroyed by a faulty IT system and mistreatment by the Post Office have asked MPs to hold to account the people responsible for the injustices

• March 10, 2020 10 Mar'20

  VAT software supplier exposed data of millions

  Eight million sales records belonging to UK and EU consumers left exposed due to misconfigured server

• March 06, 2020 06 Mar'20

  Those who did not play by the rules in Post Office Horizon scandal “should face prosecution”

  Telford MP has become a vocal member of the campaign for justice for the subpostmasters who had their lives devastated as a result of being blamed for losses caused by errors in the Post Office’s core retail and accounting system

• March 06, 2020 06 Mar'20

  IT Priorities 2020: AI, cloud to dominate IT spending in India

  Indian organisations are expected to spend more on artificial intelligence and cloud this year in a bid gain an edge over rivals through key technology investments

• March 04, 2020 04 Mar'20

  MPs call on PM to commit to full public inquiry into Post Office Horizon IT scandal

  Business, Energy and Industrial Strategy Committee to investigate the Horizon IT system and will question Post Office executives over subpostmasters wrongly accused of fraud

• March 04, 2020 04 Mar'20

  IT Priorities 2020: UK business applications investment in AI gathers steam

  Artificial intelligence intensifies as an investment area for UK IT buyers, while cloud delivery is coming to ERP as well as other applications

• March 02, 2020 02 Mar'20

  Boris Johnson’s commitment to inquiry into Post Office scandal in doubt

  Boris Johnson’s apparent commitment to a public inquiry into the Post Office Horizon scandal is not so certain

• February 28, 2020 28 Feb'20

  Government claims it was misled by Post Office over IT scandal

  Minister says Post Office IT experts misled the government when it asked questions about subpostmasters’ concerns over Horizon IT system

• February 27, 2020 27 Feb'20

  IT Priorities 2020: ASEAN firms on the frontline of digital transformation

  Southeast Asian companies plan to spend more on infrastructure and cyber security, but the growth in IT budgets appears to be slowing down

• February 26, 2020 26 Feb'20

  Boris Johnson commits to 'getting to the bottom of' Post Office Horizon IT scandal

  Prime minister Boris Johnson appears to commit to a public inquiry into the Post Office scandal over its accounting system, but government is yet to offer any details

• February 25, 2020 25 Feb'20

  Government admits it was too passive managing Post Office as parliamentary pressure builds

  The UK government faces accusations of neglecting its duties handling the Post Office as pressure mounts in Parliament for justice for the subpostmasters who suffered due to faults in the Horizon IT system

• February 23, 2020 23 Feb'20

  Australian government inks sourcing deal with Rimini Street

  The whole-of-government agreement will provide Australian government agencies with easier and cheaper access to third-party software support

• February 19, 2020 19 Feb'20

  Swedish consumer-protection legislation will hit fintechs

  New financial regulation to protect consumers from agreeing to unnecessary credit will force financial technology companies to make changes to their products

• February 14, 2020 14 Feb'20

  Calls for inquiry into Post Office IT scandal increase in Parliament, with cross-party support

  Many MPs might not yet fully understand the suffering subpostmasters have endured because of the Post Office’s faulty IT system and its oppressive behaviour, but they will soon

• February 12, 2020 12 Feb'20

  Brexit cited as reason for German digital bank’s UK exit

  German challenger bank N26 leaves the UK, saying Brexit is the reason behind the decision due to the removal of passporting rights

• February 12, 2020 12 Feb'20

  Pressure for public inquiry into Post Office IT system scandal begins with mountain to climb

  Members of Parliament seeking a public inquiry into the Post Office Horizon scandal face huge challenges, but pressure and time could force justice

• February 09, 2020 09 Feb'20

  Australian government to roll out SAP S/4 Hana

  Australia’s finance department earmarks S/4 Hana as its ERP system to provide common financial and HR services across government

• February 03, 2020 03 Feb'20

  Government refuses request to pay legal costs for subpostmasters in Post Office case

  The government has refused to pay the huge legal costs subpostmasters incurred in their battle with the government-owned Post Office, which they won

• January 28, 2020 28 Jan'20

  Subpostmaster prosecutions move closer to appeal

  Prosecutions are a significant step closer to being sent to the Court of Appeal as Criminal Courts Review Commission forms a group of commissioners to review them

• January 27, 2020 27 Jan'20

  Police sent information about potential Fujitsu staff perjury in subpostmaster prosecutions

  The police have been asked to consider information from a High Court judge questioning evidence given by Fujitsu staff in criminal trials of Post Office subpostmasters

• January 22, 2020 22 Jan'20

  Government should not be allowed to dismiss subpostmasters’ claims over Horizon IT scandal

  Subpostmasters are stepping up their fight for justice after their huge court victory, with Westminister replacing the High Court as the battleground

• January 21, 2020 21 Jan'20

  High-street banks face disruption three weeks after Travelex hack

  Foreign exchange services still disrupted, three weeks after Travelex received a $6m ransom demand from cyber gangsters

• January 15, 2020 15 Jan'20

  Government distances itself from Post Office decisions in Horizon IT litigation

  Department for Business, Energy & Industrial Strategy says it did not make decisions in the Post Office’s recent court battle

• January 14, 2020 14 Jan'20

  Why subpostmasters are calling on the government to pay Horizon trial costs

  The damages that subpostmasters will receive after their court victory against the Post Office fall well short of their calculated losses

• January 10, 2020 10 Jan'20

  Subpostmaster group calls for government to pay legal costs for Horizon trial

  The group of subpostmasters that defeated the Post Office in court over a faulty IT system are calling for the government to pay the costs of the legal action

• January 09, 2020 09 Jan'20

  Can fintech succeed where schools and parents have failed?

  Young people in Britain are unprepared to manage their finances when they leave home and, as a result, many run into serious problems

• January 08, 2020 08 Jan'20

  Fujitsu must face scrutiny following Post Office Horizon trial judgment

  While the Post Office has suffered financial and reputational damage after losing its court battle with subpostmasters, the supplier of the IT system at the centre of the dispute has major PR challenges ahead

• January 03, 2020 03 Jan'20

  Suspected ransomware attack causes worldwide disruption for Travelex

  Travelex switches off computer systems and resorts to cash-only currency sales after malware attack. Insiders claim the currency exchange chain has been hit by ransomware which has left critical files containing customer data encrypted

• December 27, 2019 27 Dec'19

  Top 10 financial services IT stories of 2019

  Here are Computer Weekly’s top 10 financial services and fintech stories of 2019

• December 20, 2019 20 Dec'19

  Has Y2K windowing been addressed by banks or is Y2.02K a risk?

  Big banks that haven't replaced legacy systems or fixed temporary windowing solutions to Y2K could have problems at the beginning of 2020

• December 20, 2019 20 Dec'19

  National Federation of Subpostmasters cries foul after court ruling on controversial computer system

  The National Federation of Subpostmasters said it was misled by the Post Office about the robustness of the IT systems its members use

• December 17, 2019 17 Dec'19

  Subpostmasters proved right on IT system failures as calls for full public inquiry mount

  Post Office has been “in denial” about the robustness of its core retail system, which a judge said was to blame for problems experienced by subpostmasters in a multimillion-pound group action

• December 13, 2019 13 Dec'19

  Subpostmasters got the best deal possible in legal battle with the Post Office, says lawyer

  Subpostmasters ended their legal battle with the Post Office at the optimal time, according to the lawyer that managed the High Court action

• December 09, 2019 09 Dec'19

  Dubai’s Kentech kicks off digital transformation drive

  Energy and industrial support company will go live in Oracle’s cloud next month

• December 06, 2019 06 Dec'19

  Barclays opens large tech operation in India, hiring thousands

  Barclays opens tech centre in Pune as part of its global delivery network

• December 03, 2019 03 Dec'19

  Insurtechs help traditional players differentiate

  Traditional insurers are harnessing the agile development techniques of the tech startup community through partnerships with insurtechs

• November 28, 2019 28 Nov'19

  NatWest digital bank goes live

  NatWest has announced the availability of its standalone digital challenger bank, known as Bó

• November 27, 2019 27 Nov'19

  Finland’s OP Financial Group accelerates open banking push

  Finnish banking group is working with a Danish fintech to add open banking functionality to its offerings

• November 26, 2019 26 Nov'19

  Peer calls for clear-out of Post Office board after Court of Appeal confirms major court defeat

  Conservative peer championing subpostmasters’ long-running battle with Post Office suggests management clear-out after Court of Appeal rejects appeal bid

• November 25, 2019 25 Nov'19

  How ServiceNow is empowering Asia’s mobile workforce

  ServiceNow’s newly minted managing director in Asia talks up the company’s sweet spots and traction in the region, and what it’s doing to abstract away workflow complexities for mobile workers

• November 22, 2019 22 Nov'19

  Court of Appeal dismisses Post Office application to appeal damning judgment

  The Court of Appeal has rejected a Post Office application to appeal judgments made in the first trial of its multimillion-pound battle with subpostmasters over IT system failures.

• November 22, 2019 22 Nov'19

  TSB tech woes continue with overnight systems failure

  TSB customers have experienced problems receiving money into their accounts due to an IT error, just days after the bank was slammed in a report on its IT problems last year

• November 21, 2019 21 Nov'19

  Western Union transfers to AWS cloud

  Western Union is the latest financial services form to set out a future in the Amazon Web Services cloud

• November 20, 2019 20 Nov'19

  Holy grail of digital banking is, at first glance, a new channel, not a new concept

  Details of Google’s plans in the financial services sector have emerged with nothing groundbreaking so far, but the sector is guessing what comes next

• November 19, 2019 19 Nov'19

  TSB programme pulled apart in report on IT meltdown

  City law firm tears into TSB’s management of botched core banking platform migration

• November 18, 2019 18 Nov'19

  How DBS is pushing the limits of IT efficiency

  Besides shrinking its datacentre footprint by 75%, Singapore’s DBS Bank is running twice as many virtual machines on a single socket and decoupling applications from its infrastructure stack

• November 15, 2019 15 Nov'19

  Businesses move key applications off public cloud to save costs

  A new study has shown that while many enterprises are able to keep public cloud costs under control, spending can quickly escalate

• November 11, 2019 11 Nov'19

  Major report on TSB IT disaster expected soon

  A damning report into the 2018 IT disaster at TSB is expected to heavily criticise executives when it is published in November

• November 11, 2019 11 Nov'19

  Goldman Sachs probed over alleged Apple Card gender discrimination

  US financial services regulator is investigating allegations that Goldman Sachs’ credit decisions for its Apple Card offering show gender bias

• November 08, 2019 08 Nov'19

  GoCardless and TransferWise create global network for direct debits

  Fintechs’ network will make it easier for small companies to expand their customer bases internationally

• November 07, 2019 07 Nov'19

  Zopa opens testing for its banking products to customers

  Zopa's move into the banking sector is gathering pace as customers test out its savings product

• November 06, 2019 06 Nov'19

  Machine learning will have bigger impact than cloud

  Workday’s vice-chairman explains how machine learning can help employees become more effective, and hints at the company’s moves beyond finance and HR software

• November 06, 2019 06 Nov'19

  Sage brings cloud-based Intacct to UK market

  Sage is bringing its cloud-based accountancy software acquired with US-based Intacct to the UK, and publishes research advancing a digital CFO concept

• November 05, 2019 05 Nov'19

  Cloud native core banking enables consumers to personalise what they buy

  Google inspired core banking platform could help banks offer personalised products to millions of people.

• October 29, 2019 29 Oct'19

  Post Office IT trial judgement within days

  The judgment in the second trial in a multimillion-pound legal battle over an allegedly faulty IT system at the Post Office is imminent

• October 28, 2019 28 Oct'19

  Unit4 CEO Mike Ettling: enterprise customers won’t pay extra for AI

  Mike Ettling, chief executive, Unit4, spoke to Computer Weekly at the Unleash HR conference in Paris about ERP trends, and how he is positioning the firm he started running this year

• October 18, 2019 18 Oct'19

  Huge rise in rogue banking apps driving fraud attacks

  Fraud perpetrated through fake mobile apps purporting to be from legitimate banks has seen a statistically significant spike, says RSA

• October 16, 2019 16 Oct'19

  Zopa continues in its mission to apply a Netflix user experience to banking

  Zopa has made a credit scoring tool available as it continues to expand the portfolio of products it offers beyond loans.

• October 08, 2019 08 Oct'19

  Sweden’s SEB explores core banking in the cloud

  Swedish Bank is the latest organisation to agree to start using a Google-inspired, cloud-native core banking platform

• October 08, 2019 08 Oct'19

  Deutsche Bank to set up innovation division to drive digital transformation

  More details about Deutsche Bank’s new technology division in internal company email

• October 07, 2019 07 Oct'19

  Public cloud computing is early on its journey to core of the bank

  Banks are no longer reluctant to use the cloud as the technology pierces the outer layer of the banking sector and begins its journey to the core

• October 07, 2019 07 Oct'19

  Southeast Asia’s internet economy hits $100bn milestone

  The digital economy in Southeast Asia grew 39% this year but the growth momentum can only be sustained if talent gaps are filled

• September 30, 2019 30 Sep'19

  Australia gets ready for open banking

  Traditional banks and fintech firms alike will need to bite the bullet in the crucial startup period if Australia’s open banking regime is to succeed

• September 25, 2019 25 Sep'19

  Executive interview: Speed is cloud apps benefit, says Oracle’s Miranda

  In a Q&A with Computer Weekly at Oracle Open World 2019, applications head Steve Miranda discussed the supplier’s approach to cloud applications, digital assistants and machine learning

• September 19, 2019 19 Sep'19

  Direct Line built an insurtech it can tweak a thousand times a day

  Insurance group Direct Line has added a new business to its portfolio, designed to let it act as a sandbox for its digital journey

• September 13, 2019 13 Sep'19

  Fintech lender increases loan limit as customer demand accelerates

  Small business lender Esme Loans has increased its loan limit to quarter of a million pounds as businesses are drawn to its simple and fast digital platform

• September 12, 2019 12 Sep'19

  Less than quarter of fintechs prepared for no-deal Brexit

  A survey reveals that less than a quarter of UK fintech companies have their businesses prepared for the UK's exit from the EU

• September 11, 2019 11 Sep'19

  Fintech Fluidly combines Google’s cloud and AI tech to ease SME cashflow management woes

  London-based fintech Fluidly explains how its recent all-in move to the Google Cloud is supporting its continued growth, and delivers new features to customers faster

• September 10, 2019 10 Sep'19

  Inside NatWest Ventures

  NatWest Ventures is helping NatWest bank to remain relevant to its SME businesses customer community through digital innovation

• September 05, 2019 05 Sep'19

  Digital challenger banks in UK to triple customer base

  Digital challenger banks are increasing their amount of customers fast, but face major challenges if they are to make serious in-roads into the banking sector

• September 02, 2019 02 Sep'19

  TSB works with Silicon Valley tech firm to help SME customers take card payments

  UK bank will offer its small business customers card-processing and point-of-sale technology by partnering with a fintech set up by Twitter CEO

• September 02, 2019 02 Sep'19

  APAC enterprises warm to S/4 Hana

  SAP customers in Asia-Pacific are assessing migration options in the run-up to 2025, when the German software giant will stop supporting older ERP applications

• August 27, 2019 27 Aug'19

  ASX partners VMware and DA on digital ledger tech

  The Australian Securities Exchange is working with VMware and Digital Asset to replace its Chess clearing and settlement system with digital ledger technology

• August 20, 2019 20 Aug'19

  Restaurant group pays staff almost £1m early through fintech app

  Wagestream app enables Casual Dining Group employees to receive salary payments in advance for a small fee

• August 15, 2019 15 Aug'19

  Latest Post Office Horizon problems fixed with software update to blame

  The Post Office has fixed the latest problems with its Horizon system, affecting hundreds of branches

• August 15, 2019 15 Aug'19

  European fintech investment continues to grow as global investment falls

  European countries are continuing to see significant growth in financial technology investment as total global investment decreases

• August 14, 2019 14 Aug'19

  UK finance regulator gives extra time for companies to meet payment security rules

  Financial Conduct Authority gives companies under its watch an extra 18 months to meet an EU payments security standard

• August 12, 2019 12 Aug'19

  Hundreds of Post Office branches hit by new Horizon problem

  Subpostmasters suffering slow running and frozen terminals while Post Office searches for a fix to issues apparently caused by a software update

• August 06, 2019 06 Aug'19

  ICO joins international call for transparency around Facebook’s Libra currency

  Data protection regulators from around the world have signed a statement raising privacy concerns about Libra

• August 05, 2019 05 Aug'19

  CIO interview: Simon McNamara, chief administrative officer, RBS Group

  Brought in after a catastrophic IT failure that affected 6.5 million customers, the IT chief at Royal Bank of Scotland Group says the bank is now a leader in innovation

• July 30, 2019 30 Jul'19

  Six Nordic banks form alliance to offer KYC as a service

  Nordic Know Your Customer joint venture will create a common Nordic platform based on advanced data management technologies

• July 22, 2019 22 Jul'19

  Latest investments in Atom Bank will support cloud platform project

  Bank has raised £50m more finance, which will contribute to funding its project to migrate to the cloud