News

Financial applications

• 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

• September 30, 2014 30 Sep'14

  Oracle OpenWorld 2014: Xerox aligns business and IT in streamlining applications

  Xerox's IT division has been working with the business to standardise its HR management on a global basis

• September 24, 2014 24 Sep'14

  Lloyds creates online appointment booking in attempt to save branches

  Lloyds Bank has introduced a system which allows customers to book in-branch appointments online

• September 22, 2014 22 Sep'14

  KPMG and Oracle target FTSE 350

  KPMG is targeting the 350 biggest businesses by providing services through software giant Oracle’s cloud offering

• September 18, 2014 18 Sep'14

  Customer loyalty biggest challenge for banks

  Banks have cited customer loyalty as their main concern, according to a survey by financial services firm Temenos

• September 17, 2014 17 Sep'14

  KPMG: IoT, 3D printing and healthcare IT to have most impact

  Internet of things (IoT), 3D printing and biotech or healthcare IT are among the IT trends that will change the way people work and live

• September 17, 2014 17 Sep'14

  Barclaycard’s bPay band aims to avoid TfL ‘cardclash’

  Barclaycard has partnered with TfL to allow consumers to use its bPay contactless payment band on the tube

• September 17, 2014 17 Sep'14

  ING Netherlands launches voice-recognition banking app

  Dutch banking group ING Netherlands has launched a banking application which uses voice recognition for navigation

• September 17, 2014 17 Sep'14

  Alternative payments – are we moving too fast?

  The payments sector is moving so rapidly finance firms are no longer afraid to fail – as long as they fail fast and recover quickly

• September 16, 2014 16 Sep'14

  Infor launches Dynamic Science Labs

  Infor launches Dynamic Science Labs organisation at its customer event in New Orleans

• September 16, 2014 16 Sep'14

  TfL contactless payments go live

  TfL’s contactless card payment scheme goes live today, enabling customers to pay for London transport on contactless bank cards

• September 12, 2014 12 Sep'14

  MasterCard issues contactless payment deadline

  MasterCard has given European retailers a deadline of 2020 for ensuring all POS systems are contactless payment enabled

• September 12, 2014 12 Sep'14

  Claims against Post Office IT system approach completion

  Investigation into sub-postmaster claims against the Post Office over problems with its Horizon accounting system coming to an end

• September 11, 2014 11 Sep'14

  Banks must differentiate to give account switching service value

  Payments Council lauds system to make current account switching easier, but figures reveal banks need to do more to differentiate

• September 10, 2014 10 Sep'14

  Fresh questions raised over Post Office IT system's role in fraud cases

  A leaked report has revealed more details about the role of the Horizon accounting system in sub-postmaster fraud cases

• September 05, 2014 05 Sep'14

  Barclays bank launches biometric authentication

  Barclays bank plans to launch biometric readers that read users' finger veins to authenticate customers

• August 22, 2014 22 Aug'14

  London private equity firm shifts IT to the cloud to cut office move downtime

  London-based private equity fund manager SOF Investments overcame the IT nightmares of an office move by migrating IT to the cloud

• August 21, 2014 21 Aug'14

  Load balancing supports Kent County Council's VDI project

  Kent County Council picks Kemp Technologies load balancers to support a deployment of VMware Horizon View and Workspace across its estate

• August 19, 2014 19 Aug'14

  FT turns to cloud to manage advertising bookings

  Business newspaper replaces 20-year-old ad-booking system with a cloud-based service

• August 06, 2014 06 Aug'14

  New College Durham improves internal processes using Advanced workflow app

  New College Durham has improved its finance system and internal business processes using Advanced Business Solutions' workflow system

• August 06, 2014 06 Aug'14

  George Osborne launches fintech innovation programme

  Chancellor George Osborne launches a programme designed to put the UK at the forefront of financial technology (fintech) innovation

• August 06, 2014 06 Aug'14

  Reducing costs no longer top IT priority at UK banks

  UK banks no longer consider reducing costs as their top priority as they focus IT developments on raising customer service levels

• August 04, 2014 04 Aug'14

  Contactless payments continue to rise

  Contactless transactions have increased by 189% since May 2013, according to Visa Europe.

• August 01, 2014 01 Aug'14

  Sepa grace period comes to end

  Deadline for Eurozone to be able to make and take payments using Sepa formats has been reached

• July 25, 2014 25 Jul'14

  Another CIO leaves Royal Bank of Scotland

  Scott Marcar, CIO of Royal Bank of Scotland’s Markets division, quit this week, according to sources

• July 22, 2014 22 Jul'14

  Ten startups selected for London FinTech accelerator

  Startupbootcamp, a provider of three-month accelerator programs, announces its top 10 startups for its London based financial sector technology (fintech) accelerator