News

Financial applications

January 24, 2019 24 Jan'19
Lloyds Bank to migrate hundreds of thousands of customers to Google-inspired fintech

Following its announcement that it was exploring the use of a fintech platform, Lloyds Bank has been quick to plan customer migration
January 24, 2019 24 Jan'19
Santander announces latest branch closures as digital channels take over

Bank to close 140 more UK branches as in-branch transactions fall and digital banking accelerates
January 22, 2019 22 Jan'19
Mastercard fined over half a billion euros for unfair payment fees

Mastercard has been heavily fined for having rules on interchange fees which distorted the EU single market
January 15, 2019 15 Jan'19
Thousands of known errors on controversial Post Office computer system to be revealed

Known errors log concerning Horizon IT system set to be announced during second High Court trial in subpostmasters’ long-running dispute with Post Office over financial losses

January 02, 2019 02 Jan'19
How e-signatures fix broken digitisation

A big barrier to the end-to-end digitisation of business processes is that certain steps require paper – but DocuSign plans to fix this
January 02, 2019 02 Jan'19
Subpostmasters suing Post Office over IT failures stunned by CEO’s honour

Subpostmasters’ campaign group attacks Post Office CEO Paula Vennells’ New Year honour amid ongoing court case
December 20, 2018 20 Dec'18
Top 10 financial services stories of 2018

Here are Computer Weekly's top 10 financial services stories of 2018
December 17, 2018 17 Dec'18
Financial services giant transforms application delivery through HCL

Dutch financial services firm Aegon is outsourcing the management of its fintech supplier network
December 13, 2018 13 Dec'18
Chief technology officers in high demand in finance sector

Financial services firms need to hire experienced chief technology officers as the sector is transformed through fintech
December 07, 2018 07 Dec'18
Court orders Post Office to explain inability to access encrypted file

Post Office unable to open encrypted recording of an interview that forms part of its evidence in High Court case

December 07, 2018 07 Dec'18
Complex Post Office Horizon case set to continue into 2020

Court case where subpostmasters are suing the Post Office set to span at least four trials and extend into 2020
December 04, 2018 04 Dec'18
Zopa gains banking licence and prepares launch

Peer-to-peer lending pioneer Zopa is turning its attention to retail banking in the UK, with plans to offer savings, credit and money management products
December 04, 2018 04 Dec'18
Barclays staff to transfer to HCL as IT deal is expanded

Bank announces closure of operation in Lithuania, with employees transferring to IT services company HCL
December 04, 2018 04 Dec'18
Lloyds to use core banking technology from Google-inspired UK fintech

Banking group explores cloud-based core banking technology as part of a major transformation programme
November 30, 2018 30 Nov'18
CCRC may hold off subpostmaster decision until after Post Office Horizon trial

The Criminal Courts Review Commission is deciding whether to delay its decision on subpostmasters’ claims of wrongful prosecution until after a related court case
November 28, 2018 28 Nov'18
Challenger bank signs up Google-inspired platform

Cloud-based platform offers functionality around smart contracts and a workflow engine for bank processes
November 28, 2018 28 Nov'18
FCA deeply concerned as no end in sight for IT failures in banking

The FCA has reported a massive increase in the number of banking IT failures in the UK and admitted there is no end in sight
November 28, 2018 28 Nov'18
UK competition watchdog concerned with PayPal’s fintech acquisition

Competition and Markets Authority fears $2.2bn deal could reduce competition for payment services in the UK
November 27, 2018 27 Nov'18
Treasury Committee launches inquiry into bank IT failures

With IT outages in the financial sector a regular occurrence, the Treasury Committee is investigating the causes and consequences of these failures, and what industry and regulators are doing to promote resilience
November 27, 2018 27 Nov'18
High Court trial over Horizon computer system completes witness cross-examinations

The High Court trial in which subpostmasters are suing the Post Office has reached an important stage
November 21, 2018 21 Nov'18
Post Office held back information about Horizon IT system errors

Post Office director admits to Horizon errors and not sharing details with subpostmaster network
November 16, 2018 16 Nov'18
Post Office executives cross-examined in Horizon IT system trial

A High Court trial, where subpostmasters are suing the Post Office for damages caused by an allegedly faulty IT system, ended its second week.
November 15, 2018 15 Nov'18
The Gym Group flexes its muscles with data analytics

No-frills fitness company The Gym Group is using analytics technology to find insights from its financial, HR and membership data, as it limbers up for rapid expansion in the UK
November 14, 2018 14 Nov'18
NetSuite finds sweet spot in Asia

With a fast-growing economy and government programmes to drive digital transformation, Asia is proving to be fertile ground for the cloud ERP pioneer
November 13, 2018 13 Nov'18
Sweden’s central bank to test digital currency

Riksbank e-krona initiative follows government plan for a cashless society by 2030
November 13, 2018 13 Nov'18
Post Office trial throws up known problem with Horizon system

High Court case in which subpostmasters are suing the Post Office has revealed a known problem with the computer system at the core of the dispute
November 12, 2018 12 Nov'18
Singapore’s Redmart finds speed and agility with cloud ERP

Online grocer has slashed the time it takes to close the books from more than a week to just three days with Oracle’s cloud-based financial application
November 09, 2018 09 Nov'18
High court Post Office trial puts subpostmasters’ contract under microscope

Case against Post Office in relation to allegedly faulty computer system begins in High Court
November 05, 2018 05 Nov'18
Deutsche Bank to create cloud-based digital cheque processing system

German banking giant Deutsche Bank will replace manual and paper-intensive cheque processing methods with an automated system in the cloud
November 01, 2018 01 Nov'18
SAP’s Atzberger vaunts front to back office capability

Alex Atzberger, president, SAP Customer Experience, recently went through the company’s customer-focused software strategy with Computer Weekly
November 01, 2018 01 Nov'18
How Bahrain plans to become a regional fintech hub

Bahrain is a small island with big plans for its financial technology industry
October 30, 2018 30 Oct'18
Traditional financial services firms face extinction within 12 years

A large number of large banks could disappear within 12 years unless they change business models and economics
October 29, 2018 29 Oct'18
Why subpostmasters and Post Office are battling it out in the High Court

After over a decade of controversy, next week marks the beginning of a court battle between subpostmasters and the Post Office over allegations of faults in an accounting system leading to unfair prosecutions
October 24, 2018 24 Oct'18
Oracle Open World 2018: CEO Mark Hurd says SAP ERP customers will defect

Oracle co-CEO Mark Hurd opined at Open World that SAP ECC6 customers will defect, in some measure, to Oracle in preference to S/4 Hana
October 23, 2018 23 Oct'18
Software suites will dominate the business applications market

Oracle co-CEO Mark Hurd contends that having a common user interface and the ability to support data flows across a business are key capabilities that will spur the dominance of software suites over time
October 19, 2018 19 Oct'18
Russians using less cash after accelerated use of electronic payments

Russians are increasingly using electronic payments rather than cash, a recent study by Sberbank has found
October 18, 2018 18 Oct'18
SAP Q3 2018: Cloud revenue up 39%

SAP’s Q3 2018 results show cloud revenue now at 22% of total and indicate momentum. S/4 Hana customers number 9,500
October 09, 2018 09 Oct'18
Blockchain adoption hotting up in Australia

The emerging technology is being tested in several industries in a country aspiring to be a global leader in blockchain development
October 02, 2018 02 Oct'18
Filling the blockchain chasm

Blockchain as a term is becoming common language, but there is a long way to go before it will mean anything to the performance of most organisations
October 02, 2018 02 Oct'18
Government explores blockchain to make buying and selling property easier and cheaper

HM Land Registry moves into the next phase of a project that will use the latest technologies to speed up property transactions
September 28, 2018 28 Sep'18
No let-up in digital banking glitches as TSB and HSBC customers are hit on payday

Online and mobile app banking outages continue to increase in regularity as TSB and HSBC customers report problems
September 21, 2018 21 Sep'18
RBS, Barclays and NatWest customers suffer more mobile banking outages

Banks apologise for problems that have affected mobile and internet banking services
September 18, 2018 18 Sep'18
Oracle first-quarter 2018-19 results show weak growth

Oracle’s first-quarter results for 2018-19 reveal $9.2bn revenue and 1% growth, with co-CEO Mark Hurd calling out “spectacular growth” for the NetSuite cloud ERP for SMEs business
September 14, 2018 14 Sep'18
How SAP is riding on Asia’s growth story

The enterprise software behemoth’s Asia-Pacific business is growing and believes its latest C/4 Hana suite is uniquely geared to the scale of the region
September 13, 2018 13 Sep'18
Tech Nation startup programme demonstrates richness of UK fintech

A Tech Nation programme to support the UK's financial technology startups demonstrates the increasingly diverse range of business-to-business products and services available through the country's fintech community
September 07, 2018 07 Sep'18
RBS announces branch closures as part of cancelled project to create challenger bank

The Royal Bank of Scotland has announced more branch closures and job losses as digital transformation continues to transform the sector
September 05, 2018 05 Sep'18
The fintech startups to watch in the UK

Tech Nation’s choice of fintech companies to back reflects the changes expected to hit financial services IT
September 04, 2018 04 Sep'18
Element AI teams up with AI Singapore

The Canadian upstart is co-developing AI applications for local industries as part of its efforts to build new research capabilities via local talent pools
September 04, 2018 04 Sep'18
TSB CEO out after months of IT problems

TSB’s CEO, Paul Pester, is stepping down after the bank and its customers were beset by another round of IT problems
August 22, 2018 22 Aug'18
JP Morgan fintech strategy widens retail trading

Bank’s digital You Invest service opens up trading opportunities to millions of customers
August 14, 2018 14 Aug'18
How Unit4 punches above its weight in APAC

The supplier of enterprise resource planning software is giving users the ability to tweak its software easily without the need for consultants, turning the traditional enterprise software business model on its head
August 09, 2018 09 Aug'18
Rentokil robot Trevor kills off mundane processes

Pest control firm has deployed artificial intelligence robots to take out manual processes and progress its learning organisation approach
August 06, 2018 06 Aug'18
Starling raises the fintech stakes with banking-as-a-service

Challenger bank enables companies outside the financial sector to offer their customers savings and current accounts via the bank’s APIs
July 31, 2018 31 Jul'18
UK fintech investment exceeds US and China

Financial technology investments in the UK have surpassed those made in the US and China
July 30, 2018 30 Jul'18
IBM and CLS to work on blockchain app store

IBM and foreign exchange settlement provider CLS are using their complimentary expertise to create an app store for finance firms using distributed ledger technology
July 30, 2018 30 Jul'18
Dubai disputes court and Smart Dubai partner to apply blockchain

Organisations in Dubai are working on developing the principal of blockchain-based courts
July 27, 2018 27 Jul'18
IT meltdown pushes TSB into loss

Bank is feeling the effects of its recent IT problems, reporting a loss of more than £100m for the first six months of 2018
July 24, 2018 24 Jul'18
Capital markets firms to ramp up public cloud spending

Companies in the investment sector are increasingly using the public cloud to improve access to business-critical data
July 24, 2018 24 Jul'18
Nordnet drops AI assistant while SEB deepens collaboration

One Nordic bank decides to stop using cognitive agent Amelia to focus on other AI technologies, but another widens the use of the software
July 20, 2018 20 Jul'18
Brussels aims to become an insurtech hub

Belgian capital is calling on startups as it eyes up the huge opportunities in the insurance technology sector
July 20, 2018 20 Jul'18
Cloud sales stoke Microsoft’s strong growth

Microsoft says cloud-based Office products made a huge contribution to sales growth
July 19, 2018 19 Jul'18
SAP Q2 2018: Cloud revenue shows momentum, 600 more S/4 customers

SAP’s second-quarter results show cloud revenue now at one-fifth of total, indicating momentum. S/4 Hana customers now number 8,900
July 17, 2018 17 Jul'18
Saudi Arabia entices UK fintechs to its shores

Saudi Arabia is offering fintechs from other countries the opportunity to access its large internal market
July 11, 2018 11 Jul'18
UK fintech industry fears Brexit-induced talent squeeze

London’s financial technology community warns of problems ahead as the reality of the UK leaving the EU unfolds
July 06, 2018 06 Jul'18
Investment flows into Nordic startups from all directions

The Nordic tech startup scene is attracting funding from a variety of sources, with private equity firms, banks and traditional IT companies all keen to put money in
July 02, 2018 02 Jul'18
Case study: Logistics firm GWC moves from paper to digital HR in three months

Qatar-based logistics firm Gulf Warehousing Company introduced smart appraisals for employees, cut the time it takes to recruit, and gave staff and managers access to accurate HR data by replacing paper systems with human resources software
July 02, 2018 02 Jul'18
Oracle decides on Brussels for European fintech innovation centre

Software giant Oracle chooses Brussels as the centre of its European financial technology innovation programme
June 27, 2018 27 Jun'18
Nationwide Building Society to fund tech startups to the tune of £50m

With an available fund of £50m, Nationwide Building Society is the latest traditional financial services provider to support tech startups
June 22, 2018 22 Jun'18
IBM early findings on disastrous TSB core banking system migration released

Report released by Treasury Committee criticises lack of rigour in preparation for core banking system migration, but TSB says report’s content is out of date
June 19, 2018 19 Jun'18
Young generation tempted by Amazon bank-like services

Tech firms offering banking services will be inevitable in the future as more than half of young people are tempted by such a prospect
June 11, 2018 11 Jun'18
SAP banks on “intelligent enterprise” at Sapphire 2018

SAP, at its SapphireNow 2018 conference, promoted the “intelligent enterprise”, with Hasso Plattner and head of machine learning Markus Noga setting out the philosophy
June 06, 2018 06 Jun'18
Sapphire 2018: SAP will take over CRM market, says McDermott

SAP’s chief executive Bill McDermott tells 2018 Sapphire conference the supplier will storm the CRM market with its C/4 Hana business applications suite
June 04, 2018 04 Jun'18
Subpostmasters told to expect decision on alleged unfair prosecutions in August

The Criminal Courts Review Commission is expected to announce the findings of an investigation into alleged unfair subpostmaster prosecutions in August
June 01, 2018 01 Jun'18
Visa card payments system goes down across the UK and Ireland

Millions of businesses across the UK and Ireland are unable to accept VIsa card payments because of a "service disruption"
May 23, 2018 23 May'18
Singapore to adopt European e-invoicing standard

The city-state is the first country outside Europe to embrace the Peppol e-invoicing standard to speed up business transactions and lower operating costs for SMEs
May 22, 2018 22 May'18
A third of people would buy insurance from Google or Amazon

Consumers are increasingly likely to buy insurance from tech giants as the insurtech industry hits the mainstream
May 17, 2018 17 May'18
Case study: British Airways’ global B2B sales gathered under Salesforce cloud

British Airways has gathered its international business-to-business sales under Salesforce Sales Cloud to bust silos
May 16, 2018 16 May'18
Nordic banks plan major digital transformation of operations

Banks in the Nordic region are set to accelerate their spending on technology as digital services take-up accelerates
May 15, 2018 15 May'18
TSB refused help from Lloyds as IT meltdown began

TSB turned down an offer of help from Lloyds Banking Group as the migration of customers accounts to its new banking system went wrong
May 15, 2018 15 May'18
Santander latest traditional player to open digital bank

Santander is the latest traditional bank to follow an industry trend and develop a digital banking unit
May 14, 2018 14 May'18
HSBC blockchain trial proves trade finance utility model

HSBC and ING used blockchain to successfully complete a real-world trade financing transaction as part of a pilot
May 11, 2018 11 May'18
Virgin Trains on using AI and virtual reality to boost customer experience

Speaking at the Knowledge 18 ServiceNow conference in Las Vegas, Virgin Trains outlined the potential role immersive and data-driven technologies can play in improving customer experience
May 09, 2018 09 May'18
NatWest fintech investments bear fruit as SME loans platform goes live

Online lending platform enables small businesses to apply for loans of up to £150,000 in 10 minutes
May 09, 2018 09 May'18
HSBC launches open banking app

In line with open banking regulation, HSBC has launched an app that enables users to see accounts from 21 different banks in one place
May 08, 2018 08 May'18
TSB offers interest rate sweetener as IT issues continue at the bank

TSB is offering customers higher interest rate to go towards making up for the problems its core banking system migration caused customers
May 02, 2018 02 May'18
Workday to continue investing heavily in APAC

Cloud applications supplier has increased its investments in the region by more than 50% in the past year, and is looking to maintain its double-digit growth in international markets
April 26, 2018 26 Apr'18
British banks target Israeli security technology

British banks are turning to Israel’s high-tech sector to protect against cyber attacks
April 26, 2018 26 Apr'18
TSB banking service tech problems continue

TSB customers are still experiencing problems using online and mobile banking services after almost a week of disruption
April 25, 2018 25 Apr'18
TSB IT meltdown has the makings of an epic

TSB’s very public IT problems will send shivers down the spine of IT teams at large banks that are yet to migrate to new core banking systems
April 24, 2018 24 Apr'18
Criminal Courts Review Commission findings in Post Office computer case raise further enquiries

The Criminal Courts Review Commission forensic examination of the IT system at the centre of a legal case against the Post Office has raised further questions
April 24, 2018 24 Apr'18
SAP Q1 2018: Cloud revenue breaks €1bn, 400 more S/4 customers

SAP’s overall first-quarter revenue was flat, but cloud revenue and profitability were up, while its S/4 Hana customer base stands at 8,300
April 23, 2018 23 Apr'18
The dawn of open banking in Australia

Financial services firms will need to embrace DevOps and modernise their IT infrastructure to compete with more nimble fintech companies in an open banking regime
April 17, 2018 17 Apr'18
Artificial intelligence will help Metro Bank customers manage their money

Service will use AI and predictive analytics to provide personalised prompts to help customers control their spending
April 17, 2018 17 Apr'18
Norway’s tax administration combats economic crime through IT

Authority has updated its IT system to step up the fight against tax evasion
April 16, 2018 16 Apr'18
Santander uses Ripple technology to offer international payments

Santander has launched an international fund transfer service for retail customers in the UK about two years after it started testing the blockchain-based application
April 10, 2018 10 Apr'18
PayPal is latest tech giant to eye traditional banking

PayPal set to launch launch traditional retail banking services in the first half of this year
April 09, 2018 09 Apr'18
HSBC adopts fintech to fight money laundering

HSBC is using technology from a fintech startup to help it monitor transactions for potential money laundering
April 09, 2018 09 Apr'18
Dubai's gamble on bitcoin property sales

Dubai is pioneering the use of bitcoin in the real world, with the property sector leading the way
April 06, 2018 06 Apr'18
UK challenger bank gives up banking licence to focus on fintech

CivilisedBank plans to serve small and medium-sized enterprises with savings and investment products
April 05, 2018 05 Apr'18
Deutsche Bank system replacement already paying back

Deutsche bank is replacing a complex IT infrastructure that helps its traders operate and automates regulatory compliance processes