News

Financial applications

April 21, 2015 21 Apr'15
Nearly £13bn to be moved via digital banking a week by 2020

The amount of money being moved via digital banking technologies in the UK will increase by 50% over the next five years
April 21, 2015 21 Apr'15
Bloomberg global trading outage a risk to users' confidence, says trading software CEO

A repeat of Bloomberg's outage – when terminals failed, leaving traders unable to conduct business – could leave users looking for plan B
April 20, 2015 20 Apr'15
RBS and NatWest mobile app experiences major outage

RBS and NatWest customers have encountered problems using the firms' mobile banking app as it experiences intermittent service
April 20, 2015 20 Apr'15
Post Office failed to investigate account shortfalls before legal action, report claims

Post Office too quick to take legal action against subpostmasters, finds independent report

April 17, 2015 17 Apr'15
Payments firm Monitise puts application programming interfaces in cloud to provide services

Monitise puts its application programming interfaces (APIs) in the cloud for banks and payment firms to use its technology in their services
April 15, 2015 15 Apr'15
Barclays pays customers to bank online

The importance of online and mobile banking in the future of UK banks is clear as Barclays starts to pay customers to use the channel
April 14, 2015 14 Apr'15
Lintel bank steers clear of traditional bank IT development

Lintel Bank applies for a UK banking licence and plans to join a growing number of new banks taking on the high street incumbents
April 13, 2015 13 Apr'15
IT error affects Nordea customers across Finland

Nordea's online systems are back up and running after an unspecified technical problem affected customers in Finland
April 13, 2015 13 Apr'15
UK consumers to spend over £50bn a year through mobile devices

UK citizens are set to make payments of £53bn a year using mobile devices by 2024 compared to the £9.7bn currently spent
April 02, 2015 02 Apr'15
Foods manufacturer ConAgra expects to save $5m a year with data analytics

Food manufacturer ConAgra Foods is using data analytics technology to improve how it makes decisions about hiring and deploying its workforce

March 31, 2015 31 Mar'15
IT is more important than marketing for banks

IT spending will grow at the expense of other areas such as marketing as optimism in financial services increases
March 30, 2015 30 Mar'15
KPMG teams up with Microsoft to boost enterprise cloud adoption

Advisory firm to draw on Microsoft technologies to deliver cloud-based data analytics, and business transformation services to clients
March 30, 2015 30 Mar'15
Finance firms leading the way in automation software adoption

Financial services firms are leading the way in the adoption of software robots to complete repetitive tasks
March 27, 2015 27 Mar'15
Talk Talk moves HR systems to cloud

Managers now have accurate information on their workforce numbers, salary and overtime costs
March 27, 2015 27 Mar'15
Retiring MP aims to uncover truth of alleged Post Office computer system problems

Retiring MP James Arbuthnot is determined to get to the bottom of problems with the Post Office system that led to subpostmasters being blamed for account shortfalls
March 27, 2015 27 Mar'15
Unit4 unites ERP brands as Business World for services organisations

Unit4 has brought its Agresso, Coda and other products under a new banner, Business World
March 27, 2015 27 Mar'15
Gocompare puts banks on the defensive

The UK could be on the cusp of dramatic changes in retail banking following the launch of a current account comparison service
March 26, 2015 26 Mar'15
Ovum urges service providers to get serious about cloud security

Analyst Ovum's report into enterprise cloud adoption warns service providers to stop treating customers' security as an afterthought
March 25, 2015 25 Mar'15
Monitise no longer up for sale

Mobile banking software company Monitise to continue as an independent company rather than seek to be taken over
March 24, 2015 24 Mar'15
MPs seek reassurance over Post Office mediation scheme

Business Innovation and Skills (BIS) select committee seeks reassurances over the Post Office mediation scheme
March 23, 2015 23 Mar'15
Deutsche Bank retail split looms as IT overhaul nears completion

Deutsche Bank may separate as it restructures, with bank executives said to prefer a spin-off and stock market listing of retail operations
March 23, 2015 23 Mar'15
Sabadell to migrate TSB IT to proprietary banking platform with £450m sweetener

Spanish bank Sabadell will move TSB IT systems to its own in-house core banking platform
March 19, 2015 19 Mar'15
Current account comparison from Gocompare announced in Budget 2015

The government used the Budget to announce changes in the banking sector that will increase consumer and business choice
March 18, 2015 18 Mar'15
Six technology companies to hasten the demise of retail bank giants

UK retail banks are under pressure from regulation, costs and increasing competition
March 17, 2015 17 Mar'15
TfL now fastest growing contactless merchant in UK

Transport for London has been named as the fastest growing contactless merchants in the UK and Europe
March 13, 2015 13 Mar'15
IBM could create blockchain-based digital payments infrastructure for central banks

IBM has held informal talks with some central banks about building an infrastructure that can provide them with bitcoin-like digital payments systems
March 12, 2015 12 Mar'15
Lack of awareness of switching service could hit challenger banks

A lack of consumer awareness about the system that enables bank accounts to be switched in seven days could restrict its impact
March 11, 2015 11 Mar'15
Google and Amazon bigger threat to retail banks than new entrants

Retail banks are more concerned with competition from technology firms than from new banks or payment platforms such as PayPal
March 11, 2015 11 Mar'15
Post Office ends working group for IT system investigation day before potentially damaging report

The Post Office closed a working group involved in an investigation into claims against allegedly faulty accounting software used by subpostmasters
March 10, 2015 10 Mar'15
Innovate finance aims to connect fintech hubs outside London

Membership body Innovate Finance launches strategy to connect finance technology hubs across the UK and promote innovation
March 10, 2015 10 Mar'15
Technology key as challenger bank OakNorth gets licence

SME-focused challenger bank OakNorth says financial services technology will enable it to serve customers fast
March 05, 2015 05 Mar'15
Financial sector cloud adoption on the rise despite security concerns

Cloud Security Alliance research reveals softening attitude towards off-premise technologies from financial services firms
March 04, 2015 04 Mar'15
Latest new UK bank launches virtually

Challenger financial services firm Charter Savings Bank has been launched, taking advantage of the lower cost of a virtual presence
March 03, 2015 03 Mar'15
RBS should be broken into 130 local banks that use the same IT systems

The UK economy would receive a multibillion-pound boost by breaking up the majority state-owned RBS into 130 local banks, according to a think tank
February 27, 2015 27 Feb'15
Mobile World Congress: Visa considers future of mobile payments

Visa makes a number of enhancements around its mobile payments strategy ahead of Mobile World Congress 2015
February 24, 2015 24 Feb'15
Digital cheque processing could prove fatal blow to hundreds of bank branches

Banks have reneged on their promise to keep bank branches open, blaming changing consumer habits and digital technology
February 23, 2015 23 Feb'15
Sainsbury’s latest retailer to commit to banking with branches planned

Sainsbury’s plans to open bank branches in some stores as it expands further into financial services
February 10, 2015 10 Feb'15
Barclays to have iPad branches

Barclays community bankers will create bank branches on iPads to give customers a branch-like experience wherever they are
February 09, 2015 09 Feb'15
MarkLogic introduces bi-temporality with eye to regulated industries

NoSQL database supplier MarkLogic adds feature which allows organisations to look at data as it has been at different points in time
February 03, 2015 03 Feb'15
SAP unveils S/4Hana as 'biggest launch in 23 years'

SAP launches what CEO Bill McDermott calls “our biggest launch in 23 years, if not in the entire history of the company”, SAP S/4Hana
February 03, 2015 03 Feb'15
Post Office CIO would talk to any subpostmaster about IT problems, promises CEO

The CEO of the Post Office defended the organisation’s support for users of its accounting system in a select committee inquiry into alleged problems
February 03, 2015 03 Feb'15
Paym sends £26m in payments

More than 1.8 million people have registered to make payments to people using only their mobile phone number
February 02, 2015 02 Feb'15
UK peer-to-peer lending exceeded £1bn in 2014

Peer-to-peer lending accounted for more than £1.2bn of UK loans in 2014, with confidence growing in IT-enabled access to credit
January 28, 2015 28 Jan'15
Post Office faces grilling by MPs over Horizon accounting system

The Post Office faces a grilling by MPs over its mediation scheme for subpostmasters penalised by its Horizon accounting system
January 27, 2015 27 Jan'15
CIO interview: Phil Pavitt, global CIO, Specsavers

Phil Pavitt, the new global CIO of Specsavers, has fixed his sights on helping the high-street optician take a great IT leap forward
January 26, 2015 26 Jan'15
Banks must prepare for state-sponsored cyber crime, says Bank of England

In a survey of 36 UK financial firms, the Bank of England says it found no immediate gaps in defence, but warns against complacency
January 23, 2015 23 Jan'15
Bank account switching in 2014 more than 2013 but less than 2012

Fewer people changed their current account provider in 2014 than before the seven-day switching service was available
January 21, 2015 21 Jan'15
MPs force inquiry into Post Office subpostmaster mediation scheme

MPs force inquiry into Post Office scheme to redress grievances of subpostmasters claiming to have been wrongly punished for false accounting
January 20, 2015 20 Jan'15
SAP’s Cohen on 2014 results: Europe strong north and south

SAP’s Emea president Franck Cohen optimistic about the supplier’s growth prospects in southern and northern Europe
January 20, 2015 20 Jan'15
CIO interview: Sarah Flannigan leads change at the National Trust

National Trust CIO’s IT strategy is a £40m transformation that represents the biggest change project in the charity's history
January 13, 2015 13 Jan'15
SAP’s 2014 preliminary cloud revenue grows by 45% to €1.1bn

SAP’s preliminary 2014 financial results indicate total revenue of €17.58bn, of which €1.1bn was cloud subscriptions and support
January 09, 2015 09 Jan'15
European Commission defends US gagging order

The European Commission said the US has the right to prevent access to a document about data sharing
January 09, 2015 09 Jan'15
Standard Chartered bank cuts thousand of jobs in digital strategy

Standard Chartered is the latest bank to cut thousands of jobs as it cuts costs and encourages its customers to use digital channels
January 08, 2015 08 Jan'15
Sainsbury's Bank IT system problems a warning to new banks

Sainsbury's Bank has experienced IT problems that left customers unable to use their credit cards for a day
January 07, 2015 07 Jan'15
Oracle will lose out unless it changes its software licensing

In an open letter, Campaign for Clear Licensing highlights the risk to Oracle’s future earnings due to aggressive licensing
January 07, 2015 07 Jan'15
Case study: UniCredit uses Fico to apply prescriptive analytics to risk management

Italian bank UniCredit is using Fico software to apply prescriptive analytics to risk management
January 05, 2015 05 Jan'15
Enterprise mobility is now all about applications

2014 was an excellent year for mobile applications, with many businesses investing in apps to improve mobility
December 18, 2014 18 Dec'14
MP accuses Post Office of acting "duplicitously" in IT investigation

MPs claim Post Office was being "high handed" towards MPs and running a "flawed, deteriorating" accounting system
December 16, 2014 16 Dec'14
MPs to debate subpostmaster IT injustice claims

Debate about the Post Office scheme to redress grievances of subpostmasters will be held in Westminster Hall
December 12, 2014 12 Dec'14
IT spending grows at fastest rate in five years

Agile IT departments are emerging with the ability to flex their budgets quickly to meet new business demands
December 11, 2014 11 Dec'14
Interview: SAP ramps up pressure on customers to move to Hana

Philip Adams, chairman of the UK and Ireland SAP User Group, says SAP is increasing pressure on customers to move to Hana
December 10, 2014 10 Dec'14
Faster Payments plans to widen UK scheme

The UK’s Faster Payments Scheme has proposed changes to its infrastructure to enable more businesses to connect to its network
December 10, 2014 10 Dec'14
Why MPs lost faith in the Post Office's IT investigation, but vowed to fight on

A group of 140 MPs has removed its backing for a Post Office scheme to redress subpostmasters' grievances over alleged false accounting
December 08, 2014 08 Dec'14
MPs blast Post Office over IT system investigation and remove backing

Post Office scheme to redress sub-postmaster grievances over IT system is failing, say MP group supporting alleged victims
December 08, 2014 08 Dec'14
Open APIs will allow customers to compare banking services

Government plans to open application programming interfaces (APIs) in banking
December 03, 2014 03 Dec'14
Interview: Jane Moran, global CIO, Unilever – the most influential person in UK IT 2014

The first woman to top Computer Weekly's UKtech50 list, Jane Moran is innovating while balancing the tech demands of a global giant
December 01, 2014 01 Dec'14
UK set to establish digital cheques in 2015

In January 2015 the UK government is expected to make the digital image of a cheque legal tender, leading to the end of paper cheque processing
November 21, 2014 21 Nov'14
HSBC launches Paym for business

HSBC launches Paym capabilities to allow business customers to receive payments using mobile phone numbers
November 21, 2014 21 Nov'14
RBS still recruiting CA-7 staff in India despite offshoring being blamed for IT meltdown

RBS is still looking for staff in India to work on its CA-7 batch process scheduler
November 19, 2014 19 Nov'14
Paym mobile payment system gathers momentum as more banks sign up

Six more banks join the Payments Council’s Paym scheme for consumers to complete transactions using a mobile phone
November 18, 2014 18 Nov'14
Worldpay processes billionth contactless payment

Supermarkets account for most contactless payments as payments company Worldpay processes its billionth contactless payment
November 18, 2014 18 Nov'14
Startups poach investment bank IT staff

Banks will have to collaborate more with IT suppliers as staff leave, drawn to the opportunities of working with startups
November 18, 2014 18 Nov'14
80% of Brits trust new banks if they have good technology

Research suggests four in five UK consumers would trust firms challenging traditional banks if they had the right IT
November 14, 2014 14 Nov'14
The Marketing Store uses Netsuite to align supply chain and processes

The Marketing Store - the brains behind McDonald’s Happy Meal toys - is using NetSuite to align its supply chain and business processes
November 12, 2014 12 Nov'14
Irish regulator stings bank over RBS IT failings

RBS-owned Ulster Bank has been fined €3.5m by the Irish financial services regulator in relation to the IT problems experienced in the summer of 2012
November 11, 2014 11 Nov'14
Capita bags Co-operative mortgage contract

Capita will acquire the mortgage processing operations of the Co-operative Bank as part of an outsourcing contract worth up to £325m over 10 years
November 11, 2014 11 Nov'14
Qantas puts Oracle ERP in the cloud with Tata Consultancy Services

Airline Qantas signs IT outsourcing services firm TCS to upgrade its Oracle ERP platform and move it into the cloud
November 10, 2014 10 Nov'14
Deutsche Bank gets first chief data officer

Deutsche Bank has appointed its first chief data officer
November 07, 2014 07 Nov'14
IT stress testing can fix banks' legacy problems, say experts

Fining the Royal Bank of Scotland (RBS) will penalise the taxpayer and do nothing to address the IT issue, say experts
November 06, 2014 06 Nov'14
Capgemini third-quarter revenues grow 2.8% to €2.59bn

IT services provider Capgemini posts 2.8% revenue growth in Q3 2014 to €2.59bn with strong UK and US demand
November 03, 2014 03 Nov'14
RBS to be fined tens of millions for IT failure

The Royal Bank of Scotland is set to be given a record fine for an IT failure following two years of investigation
October 27, 2014 27 Oct'14
Firm converts bitcoin into physical currency

An Isle of Man-based company has launched a service allowing UK customers to buy physical bitcoins
October 27, 2014 27 Oct'14
CIO interview: David Johnstone of Martin Currie Investment Management

The head of solutions management at the asset management firm discusses IT projects and the changing role of IT leaders
October 24, 2014 24 Oct'14
HR technology used to save lives following natural disasters

Plan International is using SAP's HR technology to deploy specialists relief workers within hours of a major emergency
October 23, 2014 23 Oct'14
Tesco chairman to step down over accounting chaos

Tesco chairman is stepping down after interim results showed a 92% fall in pre-tax profits and a larger than expected profit overstatement
October 23, 2014 23 Oct'14
Three in four banks struggle with stress testing

Banks are struggling to deal with the data management of the regimes of stress testing imposed since the 2008 financial crisis
October 22, 2014 22 Oct'14
CIO interview: Ernest Gmünder, Touring Club Suisse

Ernest Gmünder is turning his expertise as a CIO into a consultancy business, offering advice to businesses that want to get more from their IT
October 21, 2014 21 Oct'14
Bank of England suffers system outage

Bank of England temporarily suspends Clearing House Automated Payments System after glitch
October 20, 2014 20 Oct'14
SAP grows cloud revenue by 45%

SAP’s revenue from cloud services has grown 45% year-on-year
October 15, 2014 15 Oct'14
IT jobs hit hardest in trading exchange cuts, but is not a trend

The Chicago Mercantile Exchange (CME) is cutting 5% of its workforce, with IT staff forming a large portion of the cuts
October 14, 2014 14 Oct'14
SAP and IBM collaborate to deliver Hana on IBM cloud

SAP has extended its long-standing partnership with IBM by running SAP Hana Enterprise Cloud on IBM's cloud platform
October 13, 2014 13 Oct'14
Payment card transactions hit one billion in a month as contactless rises

Payment transactions made through cards reached over one billion in August of this year, according to the UK Cards Association
October 10, 2014 10 Oct'14
Nationwide announces rewards app

Nationwide has announced it will launch its own application to provide customers with instant rewards and vouchers
October 09, 2014 09 Oct'14
Application integration demands a light touch in the cloud

The appeal of cloud applications is irrepressible but in-house applications will not go away. How to integrate them in the cloud?
October 08, 2014 08 Oct'14
Reed.co.uk and Bitcoin – using agile to drive innovation

CIO for Reed.co.uk Mark Ridley explains how agile development has helped the firm quickly adopt Bitcoin
October 08, 2014 08 Oct'14
Retailers buy into Zapp mobile wallet

Large retailers such as Sainsbury’s and House of Fraser will allow customers to pay using the Zapp mobile wallet service.
October 03, 2014 03 Oct'14
MasterCard launches cyber hacking protection software

MasterCard has launched software to protect banking systems and processors from cyber hacking attacks
October 02, 2014 02 Oct'14
O2, EE and Vodafone trial Boku mobile retail billing service

UK mobile carriers sign up to carrier billing service to enable consumers to make physical purchases with a mobile phone
October 01, 2014 01 Oct'14
Alternative payments threaten payments industry

Back-end processing and data management will suffer if firms fail to keep up with fast-growing alternative payments
September 30, 2014 30 Sep'14
Ebay to spin off PayPal

Ebay and PayPal will become two separately listed companies in 2015