News

Financial applications

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
March 22, 2018 22 Mar'18
Colt pioneers blockchain in telco voice wholesaling

Colt Technology Services and Hong Kong Telecom’s international unit PCCW Global teamed up to trial the use of blockchain in wholesale voice settlements
March 22, 2018 22 Mar'18
Fintechs weigh up their partnership options

Fintechs need to consider what type of companies they should work with to make the most of open banking regulations
March 22, 2018 22 Mar'18
What would coders do in ethical grey areas?

Software developers are writing code that affects the lives of millions of people and how businesses are run, but what do coders think about some of the ethical questions they face?
March 21, 2018 21 Mar'18
RBS said to be setting up its own digital bank

Royal Bank of Scotland is reportedly setting up a standalone digital bank to take advantage of changing customer habits
March 19, 2018 19 Mar'18
First Direct enables customers to pay by Siri

Customers of online bank First Direct can now use voice commands to transfer money through Apple’s digital assistant
March 14, 2018 14 Mar'18
Most people think cryptocurrency will be accepted on buses by 2025

Cryptocurrency is a mystery to many people, yet 55% of respondents to a survey expect shops and buses to accept digital money in seven years’ time
March 09, 2018 09 Mar'18
Amazon bank could have 70 million customers in five years

Amazon could have more banking customers in the US than the UK has citizens within five years
March 08, 2018 08 Mar'18
EC reveals plan to make Europe global fintech hub

The European Commission has unveiled proposals to boost the EU’s financial technology sector
March 07, 2018 07 Mar'18
World Economic Forum creates fintech focus group for cyber security

WEF consortium of companies will focus on protecting financial technology firms from cyber threats
March 05, 2018 05 Mar'18
How to improve SAP ROI with smart licensing

A recent study suggested most SAP projects have a 50% chance of failure. The risk of having incorrect SAP licensing could be far higher
March 01, 2018 01 Mar'18
Are mobile wallets about to make contactless cards look outdated?

Mobile wallets look set to take root as consumers increasingly use their mobile phones to pay for goods and services
February 28, 2018 28 Feb'18
Virgin Money launches digital bank

Virgin Money is setting up a digital bank to expand into the current account and SME business account markets
February 26, 2018 26 Feb'18
NatWest opens four UK fintech hubs

NatWest has expanded its financial technology support programme at a time when entrepreneurs are more apprehensive than ever
February 23, 2018 23 Feb'18
RBS’s first profit in a decade accompanied by major first for mobile channel

News of its first profit in 10 years might overshadow a major first for the Royal Bank of Scotland’s mobile channel
February 21, 2018 21 Feb'18
Lloyds Bank announces three-year digital transformation

Lloyds Bank has announced plans to transform how it serves customers through substantial digital investment
February 20, 2018 20 Feb'18
UK finance regulator collaborates with US counterpart on fintech

The FCA is working with a US finance regulator to support financial technology companies on both sides of the Atlantic
February 19, 2018 19 Feb'18
Lauri Love can stay in UK: prosecutors will not appeal extradition ruling

Crown Prosecution Service gives undertaking to Lauri Love that it will not appeal against a court decision not to extradite him to the US – but prosecutors are seeking leave to appeal over part of the court ruling on extradition procedure
February 14, 2018 14 Feb'18
Technology spend growing at expense of trader salaries

Investment firms are spending a larger proportion of their budgets on software as data and artificial intelligence technology is seen to provide a competitive advantage
February 14, 2018 14 Feb'18
Australia’s national payment system will ease peer-to-peer payments

New Payments Platform is expected to accelerate the decline of cash and cheques in Australia, as well as simplify invoicing for businesses through overlay services
February 13, 2018 13 Feb'18
London joins Citibank IT innovation network

Citibank has made London home to its latest IT innovation hub, which will focus on applying data science and high performance computing to the business
February 12, 2018 12 Feb'18
APAC fintech market set to bloom

Government support, the rise of digital payments and a new breed of financial services will put the region’s financial technology market in overdrive over the next few years
February 07, 2018 07 Feb'18
Stay of execution for RBS branches and free devices for some customers

RBS is offering free training and devices to some customers in Scotland to help them eventually live without bank branches
February 06, 2018 06 Feb'18
Lloyds Bank cuts CIO workforce

Lloyds Banking Group is changing the skills make-up of its IT team to support demand for digital services
January 31, 2018 31 Jan'18
Swedish banks embrace rapidly evolving chatbots

Artificial intelligence is playing an increasingly important business role for Sweden’s banks – and chatbots are the starting point for many
January 30, 2018 30 Jan'18
SAP 2017 results: Cloud revenue nears €3.8bn, 7,900 S/4 Hana customers

SAP has declared full year 2017 revenue of €23.5bn, of which nearly €2.8bn was cloud, alongside acquisition of Callidus, a cloud-based “lead to money” service
January 25, 2018 25 Jan'18
Robots are needed to manage the automation robots

The next decade will see robots transform from invisible forces obeying our commands to lifelike objects interacting with humans on a daily basis
January 25, 2018 25 Jan'18
Forensic investigation into Post Office IT system at centre of legal case nears completion

The investigation into the fairness of court cases brought against sub-postmasters is close to finishing its forensic examination of the IT system at the heart of the controversy
January 23, 2018 23 Jan'18
Mastercard sets biometric ID deadline for banks

Mastercard has committed to guaranteeing that every one of its customers will have access to biometric authentication services by April 2019
January 22, 2018 22 Jan'18
IT of world’s banks is moving on from crippling regulation

Banks need to invest more in fintech and IT skills as they emerge from years of stagnation
January 18, 2018 18 Jan'18
Nordic IT executive interview: Daniel Kjellén, CEO, Tink

Sweden could have a head start in the race to open up banking through the European Union’s PSD2 regulation
January 18, 2018 18 Jan'18
Demand for cloud services drives increase in IT outsourcing

Cloud services spending in Europe, the Middle East and Africa offset a drop in traditional IT outsourcing in 2017
January 16, 2018 16 Jan'18
Financial savings just the beginning for CIOs who understand code quality

Businesses need to understand the quality of the code in their applications if they are to avoid unnecessary costs and glitches
January 16, 2018 16 Jan'18
Abu Dhabi continues fintech agenda in 2018

Abu Dhabi is open to developing its fintech ecosystem, with the next 12 months expected to see more focus on the sector
January 11, 2018 11 Jan'18
Retail banking regulations hit UK with the potential of a ‘Big Bang’ moment

The UK retail banking sector is at the beginning of a journey towards to a more competitive future as new regulation hits them
January 10, 2018 10 Jan'18
Marks and Spencer eyes £30m annual cost savings from digital-first retail push

High-street retailer has fleshed out plans to put digital at the heart of its business to boost operational efficiency in response to changing consumer demands
January 09, 2018 09 Jan'18
Google puts its payment services under one roof

Internet giant is bringing all its payment services under the Google Pay brand, making them “simpler, safer and more consistent”
January 04, 2018 04 Jan'18
Nordic banks face digitisation decisions over PSD2

With the latest version of the EU payment services directive coming into force, traditional Nordic banks can’t afford to slow their digital transformations
December 28, 2017 28 Dec'17
Top 10 HR and training technology stories in 2017

Advances in artificial intelligence, data analytics and cloud technology are changing the relationship between companies and their employees
December 22, 2017 22 Dec'17
Top 10 financial services IT stories in 2017

Financial services continue to lead the way in IT spending, but what were the main trends in 2017?
December 20, 2017 20 Dec'17
Top 10 enterprise IT in the Middle East stories in 2017

Countries in the Middle East are putting digital transformation high on their priority lists and are already leaders in areas such as smart city development
December 19, 2017 19 Dec'17
Nordic states innovate to attract global tech players

The Nordic region is already a hotbed for tech startups and has the ingredients to attract more investment from the established tech giants
December 19, 2017 19 Dec'17
Top 10 enterprise IT in the Nordics stories in 2017

The Nordic region might be best known in IT circles for its startup communities – but it has much more to offer
December 18, 2017 18 Dec'17
Top 10 business applications stories of 2017

Indirect licensing of SAP software was the big story, with SAP’s victory over Diageo in the High Court proving a tinderbox. AI, machine learning and blockchain oscillated between hype and reality
December 08, 2017 08 Dec'17
Santander UK recruits digital banking expert from Barclays

Santander UK has poached Michael Harte from Barclays to drive digital transformation
December 06, 2017 06 Dec'17
CIO interview: Carlos Abarca, TSB

Carlos Abarca is guiding TSB through its migration from systems hosted by a competitor to a digitally focused in-house core banking platform.
December 06, 2017 06 Dec'17
Mayor of London opens Bangalore office to strengthen links with Indian businesses

City of London’s office in India’s tech hub aims to promote Indian investment and IT jobs in UK capital
December 01, 2017 01 Dec'17
SAP and customers still in cockpit of debate about indirect licensing

SAP and the UK & Ireland SAP user group have been thrashing out the topic of indirect licensing in 2017. Is there an amicable settlement in sight?
December 01, 2017 01 Dec'17
Alexa for Business: Amazon embarks on voice-activated workplace productivity push

The final day of Re:Invent 2017 sees Amazon set out plans to help enterprises automate problematic workplace tasks using its voice assistant, Alexa
November 30, 2017 30 Nov'17
UAE-based Xpress Money pushes for digital currency and cashless payment solutions

Middle East money transfer firm Xpress Money talks up the benefits of cashless transactions in reducing fraud and improving user convenience
November 28, 2017 28 Nov'17
Dutch digital coin miners offered datacentre space to reduce costs

The Netherlands’ Datacenter Group is providing digital coin miners with space in a professional datacentre
November 28, 2017 28 Nov'17
Fintech is increasing operational risk to banks

European Banking Association report reveals fear of greater operational risk because of increased take-up of fintech in financial services sector
November 27, 2017 27 Nov'17
UKISUG 2017: only 2% of British and Irish SAP users plan to use Leonardo

Connect, the SAP UK and Ireland User Group conference, hears that just 2% of customers intend to use the supplier’s Leonardo AI toolbox, and 49% are unaware of new licensing policy
November 22, 2017 22 Nov'17
CIO interview: David Southern, director of ICT, WWF UK

In his 17 years in the IT department at the WWF, David Southern has seen many changes – and the advent of cloud computing is one of the biggest
November 22, 2017 22 Nov'17
HSBC recruits CIO from Google

HSBC has recruited a CIO from Google as it seeks to continue to digitise its retail banking services
November 21, 2017 21 Nov'17
IR35 reforms: Economic concerns raised over prospect of private sector roll-out

With the government’s stance on rolling out the IR35 reforms to the private sector appearing to soften, IPSE and others air concerns over the threat this move could pose to the post-Brexit economy
November 20, 2017 20 Nov'17
NatWest software robots to advise customers on investments

NatWest is offering customers automated investment advice through software robots
November 16, 2017 16 Nov'17
Scientific study reveals Bitcoin is not dominant in cryptocurrency market

Study into the ecology of cryptocurrencies has found that investors only consider market share when buying
November 16, 2017 16 Nov'17
Post Office court case judge issues warning to legal teams

The high court judge managing the sub-postmasters versus Post Office legal case over an allegedly faulty computer system tells legal teams to cooperate
November 15, 2017 15 Nov'17
Critical IT problems cost UK organisations £200,000 a month

UK companies are losing hundreds of thousands of pounds a month because of IT problems, but are relatively good at preventing the same issues recurring
November 09, 2017 09 Nov'17
TSB customers can use their faces to authenticate payments

Bank’s latest addition to its mobile apps is a facial recognition option for Apple iPhone X users
November 06, 2017 06 Nov'17
Bank of Scotland testing out artificial intelligence on customer iPhone app

Bank of Scotland pilots artificial intelligence within its iPhone banking app.
October 31, 2017 31 Oct'17
Mobile software is replacing bank branches and cash as youngsters prefer apps

The need for bank branches and cash is reducing as younger generations turn to apps to manage finances and make payments
October 31, 2017 31 Oct'17
Image recognition system clears cheques in one day

All cheques paid in the UK will be cleared on the next working day once an image-based clearing system is fully rolled out
October 30, 2017 30 Oct'17
Financial services CIOs above average for digital focus

IT leaders in the financial services sector realise they must undergo digital transformation as existing business models become outdated
October 30, 2017 30 Oct'17
Court dates set for Post Office accounting system trials

An end is in sight for sub-postmasters’ campaign against alleged wrongful prosecution, which they blame on a faulty computer system
October 27, 2017 27 Oct'17
Nordea lays off 6,000, citing digital transformation as the driver

Nordea is cutting staff as a result of its ongoing digital transformation, which means it needs less people
October 27, 2017 27 Oct'17
Carglass France feels benefit of employee knowledge sharing

Automobile glass repair company Carglass France is using knowledge-sharing technology to distribute expertise among 3,000 employees
October 27, 2017 27 Oct'17
Airbus saves millions after building a digital learning library

Airbus has created a digital learning library that is helping more than 100,000 staff in 35 countries keep their skills updated
October 24, 2017 24 Oct'17
Apple Pay launches in Nordic region with Nordea, Jyske Bank and St1 partnerships

Nordic banks take on Apple Pay to give the mobile payments service a regional boost
October 24, 2017 24 Oct'17
Nordic finance watchdogs losing patience over anti-money laundering systems at banks

The financial services watchdogs have informed banks that they have to do more to improve anti-money laundering systems
October 19, 2017 19 Oct'17
Post Office computer system legal case reaches important procedural juncture

Sub-postmasters group action against the Post Office reaches an important milestone
October 13, 2017 13 Oct'17
WEF gets to grips with risks posed by transformative technologies

World Economic Forum is bringing technology, insurance and government sectors together to better understand the risks posed by technology failures
October 10, 2017 10 Oct'17
Consumers' personalised banking needs are not being met

Banks are failing to give customers the personal services they crave, leaving the door open to tech-savvy competitors
October 10, 2017 10 Oct'17
Cyber heist hits banks in Russia and eastern Europe

Criminals hired mules to open rogue bank accounts and manipulated risk ratings and overdraft limits, paving the way for millions of dollars to be stolen
October 09, 2017 09 Oct'17
TSB reschedules final roll-out of new banking platform because of expected interest rate rise

Bank decides to delay the full customer roll-out of its new banking platform until early next year
October 04, 2017 04 Oct'17
Global IT spending to hit $3.7tn next year, says Gartner

IT spending is taking on a different shape as organisations embark on, and accelerate, digital transformation projects
October 04, 2017 04 Oct'17
Russia’s state-owned bank backs blockchain

Vneshekonombank puts its weight behind blockchain technology as the country’s public sector looks on
October 02, 2017 02 Oct'17
OpenWorld 2017: Ellison declares autonomous database 'revolutionary'

Oracle’s Larry Ellison claims revolutionary cast for autonomous 18c database at the supplier’s 2017 OpenWorld conference in San Francisco
September 29, 2017 29 Sep'17
Sweden investigates introducing its own e-currency

Nordic country’s central bank is planning for a future e-currency as cash becomes less relevant
September 27, 2017 27 Sep'17
RHB Bank rolls out chatbot for loan applications

The Malaysian lender hopes to improve the loan application experience and grow its personal loan business by 60% through a new chatbot
September 25, 2017 25 Sep'17
Two-thirds of UK businesses have adopted fintech

Most UK businesses are using financial technology products and services in some way, with cost savings being the main attraction
September 22, 2017 22 Sep'17
European banks getting rid of human interaction in retail services

Traditional banks know they need to modernise IT to retain market share, but replacing legacy systems is like defusing a bomb
September 20, 2017 20 Sep'17
CIO interview: John Mountain, Starling Bank

Starling Bank’s CIO tells Computer Weekly about life at a bank that is challenging traditional IT thinking
September 20, 2017 20 Sep'17
BMW opens its second tech startup programme in the UK

BMW has launched its latest programme to support tech startups in the UK
September 20, 2017 20 Sep'17
Oracle announces simplified pricing model for cloud computing

Ahead of Oracle’s OpenWorld 2017 event, Larry Ellison announces simplification of cloud pricing, attached to increased automation in database and middleware
September 15, 2017 15 Sep'17
Banks across Europe cut thousands of staff and branches as IT replaces them

Banks across Europe cut jobs and close thousands of branches as IT shakes the industry
September 15, 2017 15 Sep'17
Oracle 2017-18 Q1 results: Cloud revenue jumps by 51%

Oracle’s first quarter 2017-18 results show jump in cloud revenue of 51%, boosted by NetSuite acquisition. Executives continue to be bullish on cloud growth, and the AI makeover of core database is flagged
September 14, 2017 14 Sep'17
Enterprise appetites for cloud-based financial apps on the rise, Gartner research suggests

Research into corporate appetites for cloud-based financial apps suggest demand is growing faster than expected, claims Gartner