News

Financial applications

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
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