News

IT for financial services

• November 26, 2020 26 Nov'20

  Data safes will give users control over their data

  Belgian computer scientist tells Computer Weekly how people can regain control of their online personal information

• November 26, 2020 26 Nov'20

  Robots taking jobs, but creating careers

  Robotic process automation developers tell Computer Weekly about the job they never expected to be doing

• November 25, 2020 25 Nov'20

  Securing UK’s critical national infrastructure is a 2021 priority

  Government outlines the UK’s strategic cyber security policies for the coming 12 months, with critical national infrastructure a clear priority

• November 24, 2020 24 Nov'20

  Fintechs take stock amid economic shocks

  Survey reveals that the top priority for 10% of UK fintechs next year will be to survive the double blow of Covid-19 and Brexit

• November 23, 2020 23 Nov'20

  Finnish finance giant pilots fingerprint payments

  OP Financial introduces biometric security technology to enable higher-value payments to be made safely using contactless cards

• November 17, 2020 17 Nov'20

  HMRC warns over uptick in Self Assessment tax scams

  HMRC issues updated warnings as 2021 Self Assessment deadlines loom

• November 17, 2020 17 Nov'20

  Financial services data volumes heighten risk of insider breach

  Financial services organisations hold so much data that it is becoming virtually impossible to safeguard properly against data breaches caused by malicious or careless employees

• November 13, 2020 13 Nov'20

  IT Priorities 2020: European IT budget share reflects home-working challenges brought by Covid

  European organisations are being forced to redivert more limited budgets during the pandemic

• November 13, 2020 13 Nov'20

  Ticketmaster fined £1.25m by ICO for failing to protect customer data

  Ticket website’s customer data was exposed through an attack on a third-party chatbot

• November 13, 2020 13 Nov'20

  UKtech50 2021: Help us find the most influential people in UK IT

  Computer Weekly’s annual search for the 50 most influential people in UK IT is on – let us know who you would like to nominate for this year’s list

• November 12, 2020 12 Nov'20

  Financial Stability Board says it’s time to talk about IT outsourcing risks

  International organisation that monitors the finance sector asks for the industry to discuss the risks that IT outsourcing brings to the sector

• November 12, 2020 12 Nov'20

  TCS acquires Prudential Financial tech operation unit for free

  Hot on the heels of its €1 acquisition of Deutsche Bank’s Postbank Systems IT unit, TCS has taken on 1,500 people from the insurance giant’s Ireland-based IT unit

• November 11, 2020 11 Nov'20

  Tim Berners-Lee startup releases decentralisation tech to enterprises

  Roll-out of Inrupt’s decentralised privacy technology to four large organisations is helping the startup to develop explicit use cases, which it hopes will prove the tech and lead to faster adoption

• November 11, 2020 11 Nov'20

  Norway has lowest physical cash use in the world, says report

  Norway claims to use less cash as a proportion of total spending than any other country across the globe, according to a study by its central bank

• November 11, 2020 11 Nov'20

  Lack of openness on Horizon errors remains as Fujitsu refuses to explain latest outage

  Subpostmasters are being kept in the dark about errors in the branch computer system they use, despite the Post Office and Fujitsu being slammed in court over their lack of openness

• November 10, 2020 10 Nov'20

  Deutsche Bank to sell retail banking IT unit to TCS for €1

  Deutsche Bank has agreed to sell its retail banking IT operation to one of its main IT suppliers for a token €1

• November 09, 2020 09 Nov'20

  Tampere’s perfect storm triggers a startup revolution

  Previously a hub for Nokia and Microsoft, Finland’s second-largest city is capitalising on a wealth of technical knowhow to become the dark horse of the Nordic startup scene

• November 05, 2020 05 Nov'20

  Consumer rights organisation warns of computer takeover scams

  Consumers warned to be on guard against criminals pretending to be IT support staff to gain access to personal banking information

• November 05, 2020 05 Nov'20

  BBVA creates market information infrastructure on AWS cloud

  Spanish bank BBVA is using Amazon Web Services to give its traders better access to market data following a project which also involved data provider Bloomberg

• November 05, 2020 05 Nov'20

  Mastercard: Looks like a tech firm, acts like a tech firm, is a tech firm

  Financial services giant finds itself in a prominent position as the volume of digital transactions increases

• November 04, 2020 04 Nov'20

  Nordic countries to develop common digital system

  Common digital platform will help small and medium-sized enterprises across the Nordic region with data sharing

• November 04, 2020 04 Nov'20

  Contractors claim IR35 reforms pose ‘bigger threat’ to their livelihoods than Covid-19 or Brexit

  Latest poll by contractor tax consultancy Qdos suggests freelancers are less concerned about the threat the coronavirus and Brexit pose to their businesses than the havoc the IR35 private sector reforms might cause

• November 03, 2020 03 Nov'20

  Robot lawyer gets Sberbank role

  Russia's largest state-owned bank creates a robot lawyer to reduce the time taken to process documents and make decisions based on them

• November 02, 2020 02 Nov'20

  Finnish government rolls out digital projects to support SMEs

  Finland is set to create network of technology hubs that will support SMEs in the country, as well as create links across the EU

• October 27, 2020 27 Oct'20

  ICO slams Experian over ‘invisible’ data processing

  Data processing practices used by Experian broke data protection law, says Information Commissioner’s Office

• October 27, 2020 27 Oct'20

  Covid crisis proves tech can replace office space and support cost-cutting at Barclays

  Bank says it will continue to look at its use of office space as it targets further cost-cutting measures

• October 26, 2020 26 Oct'20

  Dutch government ‘unambitious’ in digital

  The Netherlands has been working at home as much as possible since the outbreak of Covid-19, but its dependence on technology and connectivity does not seem to be reflected by the government’s approach to digitisation

• October 26, 2020 26 Oct'20

  Cooperation between Norway’s security agencies planned following cyber attack on parliament

  Government seeks to develop enhanced national IT infrastructure with an embedded early warning system and defence shield to protect the IT systems of public and private organisations

• October 23, 2020 23 Oct'20

  Deutsche Bank in talks over sale of IT unit to TCS

  German bank is said to be in negotiations to sell its retail banking IT operation to Indian IT giant

• October 22, 2020 22 Oct'20

  Nordic countries in denial over IT industry equality

  Arriving in Denmark to find she was the only woman on a computer science master’s course was a shock to Plamena Cherneva

• October 22, 2020 22 Oct'20

  ANZ Bank moves digital banking services to container platform

  Australia’s largest bank now runs 30% of its internet banking services on Red Hat OpenShift in a move that has energised developers and paved the way for more automation

• October 21, 2020 21 Oct'20

  Financial services staff want work-from-home policies to continue after Covid

  About half of workers in the finance sector want their employers to retain remote working policies brought in during the pandemic

• October 19, 2020 19 Oct'20

  London’s fintechs continue to attract investment

  The capital’s fintechs continue to attract large volumes of venture capital funds despite the global economic slowdown

• October 19, 2020 19 Oct'20

  Estonian rude awakening spurs tech startup activity

  Money laundering scandal in Estonia has sparked tech startup activity in the Baltic country as banks look for answers

• October 16, 2020 16 Oct'20

  UK announces proposals to protect cash amid evolution of digital payments

  Government wants to ensure access to physical currency by consumers at retailers of all sizes

• October 16, 2020 16 Oct'20

  CIO interview: Generali’s Yanna Winter on the power of data integration

  Yanna Winter, CIO and head of IT at insurance firm Generali, discusses how to slice up the legacy IT elephant in the room to enable data-driven applications

• October 14, 2020 14 Oct'20

  Fintech ‘unicorn’ Klarna probed over data misuse

  Online bank blames misuse of user data on human error as Information Commissioner’s Office weighs in

• October 12, 2020 12 Oct'20

  Challenger bank accessing latest anti-money laundering technology through fintech

  Challenger banks works with fintech to support its anti-money laundering efforts

• October 12, 2020 12 Oct'20

  UK economy could see blockchain boost worth £57bn by 2030

  Blockchain could provide major economic benefits by being used to track and trace products and services

• October 09, 2020 09 Oct'20

  Magecart strikes website of school payments service Wisepay

  Magecart credit card skimmer harvested financial data of users of Wisepay’s platform over a two-day period

• October 07, 2020 07 Oct'20

  Consumers find new payment methods during pandemic

  Non-cash payments have grown at their fastest rate for a decade and due to Covid-19 restrictions, more people are discovering different ways to pay

• October 07, 2020 07 Oct'20

  UK accounts for 45% of Europe’s card fraud as criminals target online transactions

  Payment card fraudsters steal €1.5bn, with card-not-present attacks accounting for three-quarters of this sum

• October 05, 2020 05 Oct'20

  HMRC warns locked-down freshers of ‘wave’ of tax scams

  New university intake may be being targeted by cyber criminals amid Covid-19 confusion

• October 05, 2020 05 Oct'20

  Regulator wants fintechs to address pandemic financial challenges

  UK financial services regulator is supporting fintechs in addressing some of the challenges consumers and small businesses face amid the current pandemic

• October 05, 2020 05 Oct'20

  TSB mobile banking problems a reminder of risk of reliance on digital

  TSB customers have had problems accessing the mobile banking app just days after the bank announced it was closing 164 branches

• October 01, 2020 01 Oct'20

  Children’s debit card provider Gohenry banks on Google Cloud to ease IT infrastructure growing pains

  The CTO and COO of child-focused, parent-controlled debit card service provider Gohenry discusses how moving to the Google Cloud has helped its IT infrastructure avoid user-related growing pains

• September 30, 2020 30 Sep'20

  Norway leaves door open to Huawei

  Government gives telecoms companies responsibility to choose their equipment suppliers, which could include Huawei

• September 29, 2020 29 Sep'20

  Over two million Brits using open banking

  Data shows more than two million people in the UK are now taking control of their financial data through open banking

• September 29, 2020 29 Sep'20

  NatWest offers online banking customers free security services

  Bank responds to a surge in cyber crime targeting users of online banking services

• September 24, 2020 24 Sep'20

  Can banks solve money laundering puzzle through technology?

  Banks face a huge challenge in identifying and stopping money laundering without interfering with police investigations

• September 23, 2020 23 Sep'20

  Over half of firms intend to continue US data transfers despite Schrems II

  Survey shows many organisations do not intend to significantly change their data-sharing practices, at least until there is more guidance from regulators or governments

• September 23, 2020 23 Sep'20

  Latest Tech Nation fintech cohort reflects diversifying sector

  The latest group of fintechs accepted into Tech Nation’s growth programme reflects the diversification of a maturing sector

• September 23, 2020 23 Sep'20

  Banks stall return-to-work plans as UK government changes advice

  Banks pause plans to bring staff back to the office as the government backtracks on its policy

• September 21, 2020 21 Sep'20

  Royal Mint coin production freeze points to digital future for small payments

  Royal Mint freezes production of certain coins as demand dries up amid changing consumer habits

• September 17, 2020 17 Sep'20

  Swedish bank cuts branches and jobs, increases IT spend

  Swedish bank is increasing investment IT to improve digital banking as it reduces its branch network

• September 16, 2020 16 Sep'20

  Banks report surge in impersonation scams

  Fraudsters are using the Covid-19 crisis to trick people into transferring money to them

• September 16, 2020 16 Sep'20

  Deutsche Bӧrse tackles VMware application migration with Google Cloud

  German financial exchange firm provides an update on its progress in its move to embrace a hybrid IT and multicloud future

• September 14, 2020 14 Sep'20

  Fintech Pledge launched to strengthen UK’s financial technology sector

  The Fintech Pledge initiative is designed to foster closer collaboration between banks and fintechs so that the UK can continue building a globally competitive fintech ecosystem

• September 11, 2020 11 Sep'20

  Santander to double investment in fintechs

  Santander is doubling the amount of money it invests in fintech startups after the success of its funding arm, which was established in 2014

• September 09, 2020 09 Sep'20

  Branch-based anti-fraud scheme to be expanded to online banking

  A successful branch-based anti-fraud scheme will be expanded by banks to include online and telephone banking

• September 09, 2020 09 Sep'20

  Abu Dhabi government launches peer-to-peer coding campus

  Abu Dhabi government launches a specialist programming school that uses peer-to-peer teaching methods and gamification

• September 08, 2020 08 Sep'20

  Nordic banks invest and innovate to keep digital rivals at bay

  Large traditional banks are accelerating their digital transformations as the regional fintech sector makes its presence felt

• September 07, 2020 07 Sep'20

  Artificial intelligence keeps HSBC ATMs stocked with cash

  HSBC is using artificial intelligence technology developed in-house to help it make sure ATMs are appropriately stocked with cash

• September 07, 2020 07 Sep'20

  Dutch bank set to save €5m via Veeam backup upgrade

  Rabobank ditched legacy backup where patching took months and restores took hours. Those times are now cut down massively and the bank has a readily available test environment

• September 04, 2020 04 Sep'20

  Covid-19 has strained London tech firms but they have central role in recovery

  London tech startups are feeling the effects of the economic slowdown brought on by Covid-19, but there is a huge opportunity for those with the right focus

• September 04, 2020 04 Sep'20

  Virtual London Tech Week is a sign of the future

  London Tech week's virtual event is another sign of how the Covid-19 pandemic has accelerated digital transformation

• September 03, 2020 03 Sep'20

  Phishing scam targets Lloyds Bank customers

  Bank customers warned of emails and SMS messages that direct them to a fraudulent site and then request account log-in details

• September 03, 2020 03 Sep'20

  Insurers accept they were slow to adopt digital

  Insurance companies know they must prioritise digital investment and are planning in-house development to help make up lost ground

• September 02, 2020 02 Sep'20

  UK to build commercially available quantum computer

  The UK government is backing a quantum computing project that will provide businesses with access to the technology

• September 01, 2020 01 Sep'20

  UBS streamlines software product development with GitLab

  The bank hopes to double the speed of software development, testing and deployment to support applications for clients

• September 01, 2020 01 Sep'20

  Norway’s corporates want government to support ‘herd immunity’ to cyber attack

  Leading business organisations in Norway call on government to play a more active role in improving and coordinating the country’s cyber defences

• September 01, 2020 01 Sep'20

  How Bank Mandiri is driving the use of big data analytics

  Indonesia’s largest bank has built a big data platform to track transactions and monitor the health of its workforce, among other big data analytics initiatives

• August 31, 2020 31 Aug'20

  How India’s Tata Capital is expanding its digital footprint

  Tata Group’s financial services arm has been migrating branch walk-ins and voice calls to self-service digital channels staffed by chatbots as it expands its digital footprint

• August 28, 2020 28 Aug'20

  New Zealand activates security services as DDoS outage enters fourth day

  New Zealand government calls in its national cyber security agencies to help investigate a continuing cyber attack on the country’s financial systems

• August 27, 2020 27 Aug'20

  DDoS downs New Zealand stock exchange for third day

  Distributed denial of service attack from overseas has left stock exchange offline for days

• August 27, 2020 27 Aug'20

  Financial services business leaders and CIOs disagree on IT infrastructure

  IT leaders and senior business executives need to align their technology infrastructure priorities as businesses attempt to emerge from the Covid-19 crisis

• August 27, 2020 27 Aug'20

  CTO interview: David Rafalovsky, Sberbank Group

  Russia’s Sberbank is well into its digital transformation journey, with artificial intelligence and supercomputing now at the centre of its plans

• August 26, 2020 26 Aug'20

  Co-operative cuts branch network and jobs

  Co-operative bank will rely more heavily on its digital channels as 18 more branches are shuttered

• August 25, 2020 25 Aug'20

  North Korea’s Lazarus targets cryptocurrency vertical

  APT group behind the infamous WannaCry incident is targeting cryptocurrency operators, according to new research

• August 17, 2020 17 Aug'20

  DBS Bank teams up with AWS on AI skills

  Singapore’s DBS Bank is organising an AWS DeepRacer League to equip thousands of employees with skills in artificial intelligence and machine learning

• August 14, 2020 14 Aug'20

  Executive interview: Sri Shivananda, chief technology officer, PayPal

  Computer Weekly talks to PayPal’s tech head about the payment provider’s SOA, security, open source and the lockdown

• August 10, 2020 10 Aug'20

  Gov.uk Verify continues to pose ‘notable risk’ to Cabinet Office

  Government Digital Service put in place “unprecedented measures” in response to the Covid-19 coronavirus pandemic and built several new digital services, but its Gov.uk Verify programme continues to “pose notable risk” to the department, according ...

• August 07, 2020 07 Aug'20

  Cyber attack combined with Covid-19 puts Travelex into administration

  Foreign exchange firm Travelex has cut UK staff by 1,300 and physical outlets will remain closed

• August 07, 2020 07 Aug'20

  Challenger bank sees huge growth during pandemic

  Starling Bank has seen a big increase in its business amid the Covid-19 slowdown

• August 05, 2020 05 Aug'20

  Netherlands investigates innovative privacy technology SSI

  Dutch research organisation is looking into areas where self-sovereign identity technology could be used in society and business

• August 05, 2020 05 Aug'20

  Egypt’s datacentre plans take key step forward

  Government lays the foundations for a datacentre industry with its new data protection law

• August 05, 2020 05 Aug'20

  Brits, terrified of impact of second Covid-19 wave on finances, turn to money management apps

  People are using apps to help them manage their money amid fears of a second coronavirus lockdown in the UK

• August 04, 2020 04 Aug'20

  Google links with eight US banks for current accounts

  Tech giant works with banks to layer digital services on top of secure and regulated banking infrastructures

• July 30, 2020 30 Jul'20

  Barclays CEO says Canary Wharf office set to stay despite home working success

  Barclays chief says the success of home working during the Covid-19 pandemic has taught the banks lessons, one of which is that major centres like Canary Wharf will remain

• July 30, 2020 30 Jul'20

  Finland government funds work on potential quantum leap

  Finland's government is committing money to the development of quantum computing technologies to potentially provide a giant leap for the nation's industries

• July 30, 2020 30 Jul'20

  Accenture selected for key role in Bank of England core settlement system replacement

  Accenture will be technology delivery partner in project to replace the core system used to settle payments between banks

• July 29, 2020 29 Jul'20

  Bank of Ireland fined for six-year-old IT breach

  Bank of Ireland fined by regulator for its failings to prevent fraud six years ago

• July 28, 2020 28 Jul'20

  Digital bank customer data breached through third party

  FBI is investigating digital bank customer data breach that occurred via a former third-party supplier

• July 28, 2020 28 Jul'20

  UK government aims fintech industry at Africa

  UK government is building fintech relationships with developing countries, beginning with a pilot programme in Africa

• July 27, 2020 27 Jul'20

  CIO interview: Hany Choueiri, chief data officer, Aldermore Bank

  Digital transformation, cloud and data science are central to the specialist bank's response to the coronavirus pandemic

• July 27, 2020 27 Jul'20

  UK fintech investment down by more than 30%

  Less-established fintechs have been hit the hardest by the drop in investment capital, but there is light ahead for those that survive

• July 27, 2020 27 Jul'20

  IT expertise in banking boardrooms reduces risk, finds Europe’s central bank

  Banks with more IT knowledge in the boardroom are more realistic about risk, according to Europe’s banking regulator

• July 27, 2020 27 Jul'20

  CTO interview: TransferGo’s Edgardo Savoy discusses skills and product innovation

  Improved user experience has opened up tech to many people, but ease of use distances young people from the tech going on under the hood

• July 22, 2020 22 Jul'20

  Lloyds bank buys into cloud-native payments

  Lloyds Banking Group continues its digital journey by investing in and investigating a cloud-based payments service

• July 22, 2020 22 Jul'20

  New opportunities for Nordic startups post-Covid-19 as virtual offices become the norm

  As companies adjust to digital office life in the pandemic era, a host of Nordic startups are already helping them convert these short-term fixes into long-term strategy