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Financial applications

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
July 17, 2019 17 Jul'19
Facebook accused of ‘breathtaking arrogance’ over Libra cryptocurrency plan

US senators grill Facebook’s David Marcus over social media giant’s plans to launch cryptocurrency
July 09, 2019 09 Jul'19
Post Office fixes technical problem causing accounting errors in Horizon

Problem revealed during High Court trial left subpostmaster with £18,000 surplus after IT system failed to register full amount of cash scanned in
July 08, 2019 08 Jul'19
Eventful second Post Office Horizon trial ends

The latest High Court trial in the long-running dispute between the Post Office and subpostmasters has concluded, with part three set for March 2020
July 03, 2019 03 Jul'19
Why PSD2 adoption in the Netherlands is lagging behind

The Netherlands appears to be falling behind in open banking, even though the Dutch are digitally proficient and are often early adopters of new technology. What is going on?
July 03, 2019 03 Jul'19
APAC firms in developed markets warm up to cloud ERP

A majority of large enterprises in Australia, New Zealand, Hong Kong and Singapore are planning to move their financial applications to the cloud within a year
July 02, 2019 02 Jul'19
Post Office back-office error leaves subpostmaster with thousands of pounds extra

The Post Office has admitted that some subpostmasters are at risk of accounts not balancing due to an error it does not understand
July 01, 2019 01 Jul'19
The Great Eastern way to digital transformation

Regional insurance company Great Eastern has rolled out a new digital platform to better serve customers while morphing its DNA from the inside out
June 28, 2019 28 Jun'19
Interview: Yasmeen Al Sharaf, head of fintech and innovation unit, Central Bank of Bahrain

Yasmeen Al Sharaf heads up financial technology strategy at Bahrain’s central bank, which is on a mission to grow and diversify the sector in the Middle East island state
June 25, 2019 25 Jun'19
Three Finnish banks, one core IT platform

Can a shared core IT platform enable three Finnish banks to become more efficient yet maintain individual competitiveness?
June 20, 2019 20 Jun'19
Facebook officially unveils cryptocurrency plans

Facebook has released details about its Libra cryptocurrency, but questions still remain over how, and if, it will work
June 18, 2019 18 Jun'19
Facebook announces global digital currency Libra

Facebook is launching digital coin to open up affordable financial services to the world
June 17, 2019 17 Jun'19
Post Office asks Court of Appeal for permission to appeal judgment in first Horizon trial

The Post Office has applied to the Court of Appeal to appeal judgment in Horizon trial
June 06, 2019 06 Jun'19
Half of CFOs frustrated by complex accounting systems

Chief financial officers need to upgrade to easier-to-use accounting systems, but are strapped for time and lack the resources to make the right choices, according to survey
June 05, 2019 05 Jun'19
Emirates NBD builds bank of future with Amazon Web Services

UAE bank is accessing the latest technology through a close relationship with IT giant Amazon Web Services
May 24, 2019 24 May'19
Post Office told to pay over £5m of its opponent’s costs for first Horizon trial

The judge in the Post Office Horizon trial has ordered the organisation to pay the legal costs of its courtroom adversaries, and refused to give permission to appeal a major judgment
May 22, 2019 22 May'19
Hundreds of European retail banks will disappear as challengers scoop up customers

One in every 10 banks in Europe will no longer exist as digital challengers take customers from them
May 20, 2019 20 May'19
Post Office applies to appeal damning judgment in first Horizon trial

The Post Office has applied for permission to appeal judgments from the first trial in its IT-related legal battle with subpostmasters
May 16, 2019 16 May'19
How Open University went from bespoke IT to vanilla SAP

It’s hard convincing users their business processes are a dud. But this is what Chris Youles, chief information officer of the Open University, needed to do to transform the organisation
April 24, 2019 24 Apr'19
SAP Q1 2019 results: 400 more S/4 Hana sign-ups, €1.5bn in cloud

SAP’s first-quarter 2019 financial results indicate cloud revenue at 26% of total, and 400 new customers for S/4 Hana. Senior executive losses, restructure and Qualtrix acquisition cost bite into profit
April 17, 2019 17 Apr'19
HM Land Registry completes blockchain trial

HM Land Registry’s blockchain project is part of a wider digital transformation initiative which aims to simplify and speed up the process of buying and selling property
April 17, 2019 17 Apr'19
Government says no conflict of interest in trial despite Post Office chairman’s dual role

BEIS refutes MP’s suggestion of Post Office chairman’s conflict of interest in group litigation case involving Horizon IT system
April 16, 2019 16 Apr'19
MP questions government over Post Office Horizon case

Labour MP asks the government about the costs associated with the Post Office Horizon legal battle
April 10, 2019 10 Apr'19
Should you buy SaaS ERP or best-of-breed enterprise software?

The major ERP providers are pushing their customers to their cloud offerings. It makes sense, but there are plenty of SaaS alternatives
April 04, 2019 04 Apr'19
Post Office to appeal judgment from first Horizon trial

The Post Office will appeal against some of the judgments from the first trial concerning the Horizon computer system used by subpostmasters
April 03, 2019 03 Apr'19
Del Monte Foods enlists Accenture to help guide move to AWS cloud

US-based food producer has moved hundreds of servers and business applications to the AWS public cloud as part of a push to modernise its IT estate and boost its overall business agility
April 02, 2019 02 Apr'19
Post Office could face huge costs bill for first Horizon trial

Subpostmaster claimants’ legal team makes application for the Post Office to pay millions of pounds of costs associated with trial
March 29, 2019 29 Mar'19
Middle East countries accelerate quantum computing research

Gulf countries must invest in quantum computing research to ensure they continue to to remain digital pioneers
March 29, 2019 29 Mar'19
Major shake-up of TSB IT after core banking system migration disaster

TSB has restructured its IT team to give its internal team control of its core banking system
March 28, 2019 28 Mar'19
Post Office made to repay public money it allocated to fund Horizon litigation

A senior civil servant asked the Post Office to repay public money it had wrongly allocated to paying legal costs
March 28, 2019 28 Mar'19
Businesses losing out on early payment discounts due to outdated software

Chief financial officers need to upgrade their accounting software to benefit from discounts available for paying suppliers early
March 27, 2019 27 Mar'19
Insurance company Tokio Marine HCC overhauls legacy systems

Tokio Marine HCC has partnered with Incessant Technologies to implement business process automation software, which is helping the company to mitigate the risks associated with its disparate legacy systems
March 20, 2019 20 Mar'19
CCRC watching Post Office Horizon trial closely

The Criminal Courts Review Commission considering judgment in subpostmasters versus Post Office litigation trial
March 20, 2019 20 Mar'19
Post Office ‘lacked humanity’ in the treatment of subpostmasters, says peer

Peer slams Post Office after High Court judgment reveals its oppressive style of managing the people who run its branches
March 19, 2019 19 Mar'19
Post Office director cross-examination confirms lack of investigation into branch IT problems

A high court judge heard that the Post Office did not investigate a computer system error that could cause losses, despite being offered evidence
March 15, 2019 15 Mar'19
Subpostmasters achieve ‘stunning victory’ against Post Office in Horizon case

Judge rules that Post Office showed “oppressive behaviour” in response to claimants accused of accounting errors they blamed on Horizon IT system
March 12, 2019 12 Mar'19
Post Office considered Horizon IT system ‘high risk’, court told

The Post Office considered Horizon a high operational risk in an internal review, a trial focused on alleged fallibilities in the system used in thousands of Post Office branches has heard
March 07, 2019 07 Mar'19
Tech under spotlight at High Court in second subpostmasters versus Post Office trial

The second trial in a court battle between the Post Office and the people who run branches analyses alleged bugs in the computer system they use
March 04, 2019 04 Mar'19
IT Priorities 2019: APAC keeping pace with digital transformation

Digital transformation is well underway among APAC enterprises which are looking to spend more on refreshing their IT infrastructure and technologies that improve employee productivity
February 28, 2019 28 Feb'19
APAC financial firms face roadblocks with RPA

IDC monitored the automation projects of over 30 early adopters of RPA in financial services and found that most were unable to scale up their implementations of the technology
February 01, 2019 01 Feb'19
TSB blames IT disaster for huge losses

TSB made a huge loss in its latest financial year because of costs it incurred as a result of an IT disaster
January 29, 2019 29 Jan'19
SAP FY 2018: Cloud revenue nears €5bn, 10,500 customers for S/4 Hana

SAP’s full-year 2018 results show cloud revenue at 20% of the total, which was €24.7bn, while the fourth quarter saw 1,000 customers added to its flagship S/4 Hana