News

IT for financial services

• July 28, 2021 28 Jul'21

  COP26 cyber resource hub launched for Glasgow businesses

  New digital information hub for Glasgow business to help organisations keep secure both physically and online ahead of major climate change summit

• July 27, 2021 27 Jul'21

  ICO ends its involvement in dispute between NatWest Bank and data breach whistleblower

  The Information Commissioner’s Office has ended its involvement in a dispute between a data breach whistleblower and NatWest bank

• July 27, 2021 27 Jul'21

  Gaming could reduce the gamble for users of online finance

  Financial gaming platform designed to educate the increasing number of amateur traders

• July 20, 2021 20 Jul'21

  Nordic banks join forces to compete with fintechs

  Collaboration will be key for traditional Nordic banks to retain business amid intense competition from tech companies

• July 15, 2021 15 Jul'21

  Fintech sector continues to attract investment as Revolut hits $33bn valuation

  Revolut has become the most valuable financial technology firm in the UK after its latest round of investment, with plans for a ‘superapp’

• July 14, 2021 14 Jul'21

  EC approves pan-Nordic payments platform

  Pan-Nordic payments platform will move to its next phase after receiving merger approval from the European Commission

• July 14, 2021 14 Jul'21

  More than half of European IT outsourcing spending will soon be on cloud services

  Cloud services will soon be the largest part of the IT services market in Europe, as enterprises invest in them as part of their Covid-19 recovery strategies

• July 14, 2021 14 Jul'21

  Multiple Microsoft bugs being actively exploited

  Microsoft’s July Patch Tuesday update fixes 117 vulnerabilities, 13 rated as critical and four already being actively exploited

• July 13, 2021 13 Jul'21

  AI to have biggest impact on fintech development over next five years

  Artificial intelligence will become the most influential technology in the fintech sector over the next five years

• July 13, 2021 13 Jul'21

  Financial services sector’s cloud use set for more regulatory scrutiny on resilience grounds

  Financial stability report by Bank of England’s Financial Policy Committee raises red flag about banks’ growing reliance on a small number of cloud service providers

• July 13, 2021 13 Jul'21

  Met Police seize £180m worth of Bitcoin

  The largest ever seizure of cryptocurrency in the UK comes just weeks after a previous multi-million pound confiscation, as law enforcement clamps down on money laundering

• July 13, 2021 13 Jul'21

  UK fintech investments recovering from lost year

  Fintech investments have bounced back in the first half of this year after a Covid-19-hit 2020

• July 13, 2021 13 Jul'21

  Russia tightens pressure on global IT companies

  Russian authorities will force certain IT companies with customers in Russia to open local offices

• July 07, 2021 07 Jul'21

  Former Bank of England CIO joins Co-op Group as CTO

  Rob Elsey joins the Co-op Group at a time when the organisation is undergoing major digital transformation

• July 07, 2021 07 Jul'21

  Opportunists seen targeting Kaseya REvil victims

  Malwarebytes researchers highlight new spam campaign targeting businesses impacted by the ongoing Kaseya REvil ransomware incident

• July 06, 2021 06 Jul'21

  Bank of England searches for new CIO amid once-in-a-generation project

  The Bank of England is recruiting a head of IT during a period of major change in its core IT system

• July 06, 2021 06 Jul'21

  Klarna under investigation by Swedish finance watchdog

  Swedish fintech is being investigated by financial services regulator after customer information was visible to others

• July 06, 2021 06 Jul'21

  Cyber insurance costs up by a third

  The frequency and severity of ransomware attacks is a leading factor behind a substantial increase in the cost of obtaining cyber security insurance

• July 06, 2021 06 Jul'21

  Gulf hospitals flock to digital health to manage lifestyle diseases

  The Middle East is accelerating its take-up of digital healthcare technologies following lessons learned in the Covid-19 pandemic

• July 06, 2021 06 Jul'21

  Nordic fintech could lead the world

  Will the Nordics become the fintech and open banking innovation capital of the world?

• July 05, 2021 05 Jul'21

  Quarter of UK financial services staff want to continue working from home

  Working from home looks set to stay in the finance sector after Covid-19 restrictions are lifted, as staff express their preferences for remote working

• July 05, 2021 05 Jul'21

  Klarna’s alumni thrive with new ventures after witnessing path to success

  Former Klarna employees are using their experiences with the fintech giant to create the next wave of Swedish tech startups

• July 02, 2021 02 Jul'21

  Should I be worried about PrintNightmare?

  The accidental publication of proof of concept code for a Windows vulnerability, and the reclassification of said bug from low to critical severity, has the cyber community concerned. Is it right to be?

• July 01, 2021 01 Jul'21

  Nordic mobile wallets to merge onto single tech platform

  Plans underway to merge the mobile wallets of various Nordic banks into a single public cloud-based technology platform

• July 01, 2021 01 Jul'21

  US Cybersecurity and Infrastructure Security Agency launches ransomware assessment tool

  Newly launched service will help US organisations understand how prepared they are to deal with a ransomware attack

• July 01, 2021 01 Jul'21

  NHS IT fraudster Barry Stannard sentenced to five years in prison

  Stannard used his position as head of unified communications at an Essex NHS Trust to cheat the taxpayer of more than £800,000

• June 29, 2021 29 Jun'21

  Bank branches will be a thing of the past in five years, say bankers

  Traditional bank branches are likely to disappear from the high street in the next five years, but banking ecosystems will ensure customer service levels are high, say bankers

• June 29, 2021 29 Jun'21

  New Nobelium attacks a reminder to attend to cyber basics

  A new campaign from the same threat group that broke into SolarWinds serves as a reminder that cyber crime gangs will try to exploit any avenue they can, even if technically unsophisticated

• June 29, 2021 29 Jun'21

  UK Cyber Security Council launches inaugural initiatives

  Security association seeks to determine terms of reference for committees to oversee standards and ethics, and qualifications and careers in the cyber sector

• June 28, 2021 28 Jun'21

  Insurers unprepared for challenges of underwriting ransomware

  RUSI think tank calls for an industry-wide reset amid intense challenges for providers of cyber security insurance

• June 28, 2021 28 Jun'21

  Zopa Bank to make profit in its first year

  Bank set up by peer-to-peer lending fintech firm expected to make a profit in its first year

• June 28, 2021 28 Jun'21

  German merger to fuel savings fintech expansion

  German savings fintechs merge and plan European and US expansion

• June 28, 2021 28 Jun'21

  UK’s FCA bans crypto exchange Binance as crackdown spreads

  Ban on Binance Markets comes amid a wider global crackdown on the largely unregulated global market for cryptocurrencies and related assets.

• June 28, 2021 28 Jun'21

  HMRC-branded phishing scams surge despite protections

  The number of HMRC-branded phishing scams surged 87% in the past 12 months, according to latest revealed figures

• June 25, 2021 25 Jun'21

  Brighton tourists charged thousands of pounds for fairground ride after Worldpay glitch

  Tourists at a Brighton attraction were overcharged by thousands of pounds due to a glitch at payment processor Worldpay

• June 24, 2021 24 Jun'21

  Visa to acquire Swedish open banking fintech for €1.8bn

  Payments giant Visa agrees to pay €1.8bn to acquire Tink, a specialist open banking fintech

• June 24, 2021 24 Jun'21

  Revealed: Crypto platform’s role in Cl0p ransomware raid

  Crypto infrastructure provider Binance provided assistance to law enforcement after finding its exchange was being used by cyber criminals to launder their ransomware profits

• June 24, 2021 24 Jun'21

  Oracle signs multi-year database modernisation deal with Deutsche Bank to support its cloud plans

  Database software giant signs a deal with Deutsche Bank to support the financial services company’s ongoing hybrid cloud-focused digital transformation plans

• June 24, 2021 24 Jun'21

  Lloyds Bank to close 44 more branches

  Banking group has announced the closure of a further 44 branches as customers increasingly use other channels for banking

• June 24, 2021 24 Jun'21

  Make ransomware payments illegal, say 79% of cyber pros

  Report produced for MSSP Talion claims overwhelming support for the criminalisation of ransomware payments

• June 16, 2021 16 Jun'21

  Contactless payments accounted for a quarter of all UK payments in 2020

  Restrictions in everyday life brought by the Covid-19 pandemic fuelled an increase in the use of contactless payment technology during 2020

• June 15, 2021 15 Jun'21

  Japanese bank boss to leave after IT failures

  Mizuho Bank president takes the blame for widespread IT system failures at the organisation

• June 11, 2021 11 Jun'21

  IR35 tribunal sees Nationwide IT contractor lose second appeal against £70,000 HMRC tax bill

  Tribunal dismisses second appeal by IT project manager Robert Lee that his contracts with Nationwide would fall out of scope of the IR35 legislation

• June 10, 2021 10 Jun'21

  Risk data shows UK energy sector most vulnerable to cyber attack

  New report compiled by insurance firm Hiscox reveals the state of cyber preparedness in the UK and beyond

• June 09, 2021 09 Jun'21

  RSA spins out fraud and risk unit as Outseer

  RSA Security is transitioning its fraud and risk intelligence work into a new business to be called Outseer

• June 09, 2021 09 Jun'21

  BBVA to cut 3,000 jobs in Spain as digital technology transforms industry

  Spanish bank is the latest to announce swingeing branch and job cuts amid increased digital competition

• June 09, 2021 09 Jun'21

  Klarna takes on UK credit card providers with feature that breaks up online payments

  Fintech unicorn introduces feature to its app in the UK which will challenge traditional credit card providers

• June 07, 2021 07 Jun'21

  Bank of England calls for feedback on digital currencies

  The UK financial services regulator is calling for feedback from organisations, including tech firms, on the use of cryptocurrency

• June 04, 2021 04 Jun'21

  HSBC offers all businesses scam awareness app

  HSBC is sharing information on the latest scams and how to defend against them thorough its latest app, available to all businesses

• June 03, 2021 03 Jun'21

  Swedish university is behind quantum computing breakthrough

  Chalmers University of Technology simplifies the process of measuring the temperatures of quantum computers during complex calculations

• June 01, 2021 01 Jun'21

  Ex-IT manager stole over £800,000 from NHS trust

  A former senior IT manager at an Essex NHS trust has pleaded guilty to defrauding his employer out of more than £800,000

• May 31, 2021 31 May'21

  Great Eastern doubles down on data analytics

  Singapore insurer Great Eastern has started a centre of excellence to drive adoption of data analytics and hone its capabilities in data governance and data engineering

• May 26, 2021 26 May'21

  Millions of pounds lost to crypto fraud on social media

  More than £63m has been lost nationally by victims of investment fraud via a social media platform, says Action Fraud

• May 20, 2021 20 May'21

  Credit Suisse to recruit more than 1,000 tech staff in India

  Credit Suisse is hiring more IT professionals in India to supports its plan to develop a global tech hub

• May 19, 2021 19 May'21

  India’s HCL to hire 1,000 tech professionals in the UK

  Indian IT suppliers set to create thousands of IT jobs in the UK, which supports their intention to have more staff based closer to customers

• May 19, 2021 19 May'21

  Barclays first bank to publish online scam refund details

  All banks must be transparent about the proportion of victims of authorised push payment fraud they refund, says consumer rights organisation Which?

• May 18, 2021 18 May'21

  Post Office Horizon inquiry set to be given statutory status with wider powers

  The government inquiry into the Post Office Horizon scandal is set to be made statutory with the power to call witnesses under oath and compel provision of evidence

• May 18, 2021 18 May'21

  Shift to digital remittances helps sector retain transaction value

  Global remittance volumes and value was more resilient than expected over the past year, partly as a result of the take-up of fintech services

• May 18, 2021 18 May'21

  Santander says sorry for weekend tech outage

  Bank’s customers were unable to access multiple banking channels because of technical problems

• May 06, 2021 06 May'21

  Government urged to add scam protections to Online Safety Bill

  Group of organisations calls for the government to use the Online Safety Bill to protect people from cyber scams

• May 06, 2021 06 May'21

  Netherlands to build new national supercomputer

  The Netherlands has laid out plans for its next national supercomputer, to be known as Snellius

• May 06, 2021 06 May'21

  HSBC blocks £249m in UK fraud with voice biometrics

  HSBC voice recognition technology has reduced telephone banking fraud as demand for the channel increases

• April 28, 2021 28 Apr'21

  Covid-19 security challenges leave bank customers at risk

  Challenges arising from the pandemic have left gaping holes in banking security, putting consumers at risk of fraud

• April 22, 2021 22 Apr'21

  GCHQ: Cyber investment a guarantor of UK’s global status

  GCHQ director Jeremy Fleming sets out a vision for the UK’s cyber security future

• April 20, 2021 20 Apr'21

  Banco Santander moving more than 200 servers to cloud per day

  Banco Santander has migrated about 60% of its IT infrastructure to the cloud and is reaping the benefits

• April 19, 2021 19 Apr'21

  UK fintech investment hits new heights as government announces increased support

  The UK fintech sector saw high levels of investment in the first quarter of this year, with increased support from the government

• April 16, 2021 16 Apr'21

  Finnish government strengthens country’s IT network security

  Finland’s government has created a new national organisation to help public and private bodies improve network security

• April 15, 2021 15 Apr'21

  Microsoft is most impersonated brand in phishing attempts

  Technology companies continue to be frequently spoofed by cyber criminals in their phishing attempts

• April 14, 2021 14 Apr'21

  Europe provides growth for TCS despite year floored by pandemic

  Tata Consultancy Services grows its continental European business despite economic slowdown brought by Covid-19 restrictions

• April 12, 2021 12 Apr'21

  Another 27 Danish banks get access to open banking APIs

  Nordic banks gain access to open banking capabilities from Nordic API Gateway, with an agreement through their shared IT service provider

• April 09, 2021 09 Apr'21

  NCSC: Using your pet’s name as a password is very stupid

  If your email password is still Rex, Rover or Mr Fluffles, it’s probably best to change it, the NCSC has said

• April 08, 2021 08 Apr'21

  Future working models at big banks begin to fall into place

  Banks traditionally lead the way in technology adoption, but what can businesses take from their post-Covid-19 remote-working strategies?

• April 08, 2021 08 Apr'21

  CIO interview: Gary Delooze, CIO, Nationwide

  Building society’s CIO talks about building a technology strategy, working with the rest of the business and the Covid-19 pandemic

• April 08, 2021 08 Apr'21

  IBM Cloud for Financial Services goes on general release

  IBM Cloud’s push to provide sector-specific public cloud services to financial services firms enters a new phase

• April 08, 2021 08 Apr'21

  Inside Microsoft’s industry cloud strategy

  Microsoft dives deeper into its industry cloud strategy and what it means for enterprises in the Asia-Pacific region

• April 07, 2021 07 Apr'21

  A billion extra contactless payments in year since limit increase

  Visa said there was an extra one billion contactless payments made by its customers last year

• April 07, 2021 07 Apr'21

  Irish employees’ ‘right to disconnect’ enshrined in code of practice

  A code of practice giving employees the ‘right to disconnect’ from work and not engage in electronic communications outside of their normal hours has come into effect in Ireland

• March 31, 2021 31 Mar'21

  Commerzbank picks Google for cloud migration

  German bank expands its work with Google Cloud and plans to move 85% of applications to its platform

• March 30, 2021 30 Mar'21

  IR35 reforms: Slow government progress on umbrella regulation exposes IT contractors to tax risks

  With thousands of IT contractors set to start working through unregulated umbrella companies for the first time when the IR35 reforms take hold in the private sector, concerns are growing about the danger this could pose to their income and tax ...

• March 29, 2021 29 Mar'21

  How far has open banking come in Europe?

  Open banking is a relatively new concept, having come into effect in Europe only in the last couple of years. So what is the state of play?

• March 29, 2021 29 Mar'21

  TSB Smart Agent integrated into mobile banking app

  TSB has integrated a smart agent, developed to relieve pressure on its contact centres during the Covid-19 pandemic, into its mobile app

• March 29, 2021 29 Mar'21

  CW Innovation Awards: How DBS is transforming credit processes

  DBS Bank’s credit architecture programme has digitised and reimagined credit processes through a unified platform that has improved the productivity and efficiency of its credit teams

• March 22, 2021 22 Mar'21

  Post Office staff instructed to shred documents that undermined its claims Horizon was robust

  Barrister advising the Post Office in 2013 stated that destroying documents would "amount to a conspiracy to pervert the course of justice"

• March 19, 2021 19 Mar'21

  Post Office IT scandal executive forced out of job at Football Association of Wales

  Angela van den Bogerd has left her role at the Football Association of Wales, following criticism of her part in Post Office IT scandal

• March 17, 2021 17 Mar'21

  Capita restructures to simplify its business

  Business services supplier creates two core units that focus on public sector and commercial enterprise customers and will sell off non-core assets

• March 16, 2021 16 Mar'21

  One-fifth of all UK tech investment went to just 10 scaleup firms in 2020

  Annual Tech Nation report shows UK technology firms saw record levels of investment in 2020, but a significant proportion of it was concentrated in a small number of scaleup enterprises

• March 16, 2021 16 Mar'21

  Insurers unable to fill a quarter of tech roles

  Insurance companies need to fill tech skills gaps if they are going to prosper in the age of insurtech

• March 16, 2021 16 Mar'21

  Banks still lack tech skills at the top

  Banks have made progress in adding IT knowledge in their boardrooms, but they need more as digital transformation accelerates

• March 09, 2021 09 Mar'21

  UK's Starling Bank reaches unicorn status

  UK app-based bank Starling reaches unicorn status following its latest round of funding

• March 09, 2021 09 Mar'21

  EBA restores services after Microsoft Exchange attack

  European Banking Authority was breached through vulnerabilities in Microsoft Exchange Server, but is now back online

• March 08, 2021 08 Mar'21

  Wipro makes its biggest acquisition ever with $1.45bn takeover

  Indian IT services supplier Wipro makes biggest acquisition in its history as it bolsters consultancy offering

• March 08, 2021 08 Mar'21

  Nordic innovators change emphasis on gender equality in society

  Female technology innovators in the Nordics take a different approach to trying to improve opportunities for women

• March 04, 2021 04 Mar'21

  Bank of Ireland to reduce branch network by almost half

  Bank of Ireland is latest bank to pin its future on digital channels as customers change their banking habits

• March 04, 2021 04 Mar'21

  UK contactless payment limit more than doubled

  UK increases the amount that can be spent in one go using a contactless payments card to £100

• March 03, 2021 03 Mar'21

  CIO interview: Laura Dawson, CIO, London School of Economics

  LSE’s CIO talks about focusing on team development, her vision of creating a connected network of technologists, and the impact of the Covid-19 pandemic

• March 02, 2021 02 Mar'21

  Goldman Sachs CEO comments highlight need for home working balance

  The remote working revolution has been prominent in the banking sector and organisations have a balancing act to perform once the pandemic passes

• March 02, 2021 02 Mar'21

  HSBC offers to help customers transitioning to digital banking as branch closures continue

  HSBC is offering its customers training in how to bank digitally in a safe and effective way as it, like many banks, moves customers out of branches and towards using online services

• February 26, 2021 26 Feb'21

  It’s now or never for UK fintech, government told

  The UK government faces a ‘now or never’ moment if it wants financial technology to play a central role in the economy for years to come

• February 25, 2021 25 Feb'21

  UKtech50 2021: The most influential people in UK technology

  Computer Weekly has announced the 11th annual UKtech50 – our definitive list of the movers and shakers in the UK tech sector

• February 25, 2021 25 Feb'21

  Tech-enabled hybrid working enables HSBC to cut 40% of its global office space

  Bank is making huge reductions in the amount of office space it uses through a global hybrid-working policy