News

IT for financial services

• June 27, 2023 27 Jun'23

  Infosys to acquire Danske Bank Indian IT centre as part of $454m outsourcing deal

  Agreement will accelerate Danske Bank’s digital transformation and widen Infosys’ growing customer base in the Nordic region.

• June 26, 2023 26 Jun'23

  HSBC leaving Canary Wharf headquarters

  HSBC is to leave its current Canary Wharf headquarters by 2027 as hybrid-working policies reduce demand for office space

• June 22, 2023 22 Jun'23

  UK pension scheme expands relationship with IT services giant TCS

  Tata Consultancy Services retains contract with UK pension scheme for another decade after extending a contract that was first signed in 2011

• June 22, 2023 22 Jun'23

  Lloyds Bank to open tech centre in India

  UK bank taps into Hyderabad tech ecosystem by opening a tech centre focused on improving digital experiences for customers

• June 21, 2023 21 Jun'23

  Software spending grows fastest as finance firms spend $652bn on tech in 2023

  Banks and investment firms are increasing their spending on IT despite gloomy economic outlook, but priorities have changed

• June 21, 2023 21 Jun'23

  Co-op Group adds nearshore engineering resources

  Manchester headquartered Co-op group adds additional engineering resources as competition for talent in the UK ramps up

• June 20, 2023 20 Jun'23

  Mizuho Financial Group trials generative AI for development and maintenance

  Japanese bank is working with Fujitsu to explore potential for using generative artificial intelligence technology in system development and maintenance

• June 19, 2023 19 Jun'23

  Prime minister Rishi Sunak faces pressure from banks to force tech firms to pay for online fraud

  The UK’s major banks have told the prime minister to force tech firms to do more to prevent fraud that the banks end up paying for

• June 19, 2023 19 Jun'23

  Early June Microsoft outages were result of large-scale DDoS hit

  Investigations into recent outages on Microsoft Azure and Outlook services have turned up evidence of a massive distributed denial-of-service attack

• June 19, 2023 19 Jun'23

  Jordan’s Ahli Bank launches app on cloud-native platform

  Middle East bank launches app on latest cloud-native banking platform from Google-inspired company

• June 19, 2023 19 Jun'23

  Visa takeover means economic turmoil won’t slow Tink’s progress

  Tink is one of the pioneers of the open banking sector, and under Visa’s light-touch ownership is continuing to think like a startup

• June 19, 2023 19 Jun'23

  Dutch government puts up €123m to address shortage of ICT workers

  Financial injection aimed at improving cooperation between vocational education and business in the Netherlands, and making the tech professions more attractive

• June 16, 2023 16 Jun'23

  Collaboration in finance sector develops prototype API for digital currency

  The Bank for International Settlements and the Bank of England worked with private sector on central bank digital currency experiment

• June 16, 2023 16 Jun'23

  BBVA uses AI and analytics services from AWS

  BBVA invests in Amazon Web Services cloud platforms to help transform itself into an organisation driven by AI and data

• June 16, 2023 16 Jun'23

  Citi US Personal Banking turns to AI to ‘delight’ customers with personalised services

  Citigroup’s US Personal Banking business has created a repository of customer data and is rolling out a decision engine to provide customers with personalised services

• June 14, 2023 14 Jun'23

  TSB calls on Meta to intervene and protect users from fraud losses of £250m this year

  TSB is the latest bank to demand more action from social media sector in helping to reduce online fraud

• June 14, 2023 14 Jun'23

  Banks still investing heavily in legacy payments systems

  Banks are missing out on additional revenues through payment services because they are stuck with inflexible legacy payments systems.

• June 13, 2023 13 Jun'23

  Belgian bank leaps forward in digital transformation through core banking outsourcing deal

  Online bank moves to a software-as-a-service core banking platform to ‘leapfrog’ in-house development

• June 13, 2023 13 Jun'23

  GoCardless cuts jobs and wants its ‘startup spirit’ back

  Payments fintech unicorn GoCardless will cut its workforce in the UK as part of a 15% reduction in its global workforce

• June 13, 2023 13 Jun'23

  Delayed Making Tax Digital programme to cost taxpayers extra £1.5bn

  HM Revenue and Customs’ (HMRC) Making Tax Digital programme, which is running several years behind schedule, is expected to cost five times more than planned, National Audit Office (NAO) report finds

• June 12, 2023 12 Jun'23

  Annual spend on regtech to reach more than £200bn by 2028

  Global corporates will spend over $200bn in 2028 as the technology is used to help organisations in more industries comply with complex regulations.

• June 08, 2023 08 Jun'23

  Sweden’s Ikano Bank outsources core banking to TCS

  Ikano Bank moves to cloud banking platform from Indian IT services giant Tata Consultancy Services

• June 08, 2023 08 Jun'23

  UK gets new rules to regulate crypto sector

  The Financial Conduct Authority is introducing new rules to regulate the cryptoasset sector, after being handed a government remit to oversee crypto promotions

• June 07, 2023 07 Jun'23

  UKtech50 2023: The most influential people in UK technology

  Computer Weekly has announced the 13th annual UKtech50 – our definitive list of the movers and shakers in the UK tech sector

• June 07, 2023 07 Jun'23

  UKtech50 2023 winner: Michelle Donelan/Chloe Smith, secretary of state, DSIT

  Computer Weekly looks at the achievements and successes of the Department for Science, Innovation and Technology, as its secretary of state is recognised as the most influential person in UK technology for 2023

• June 07, 2023 07 Jun'23

  NatWest and University of Edinburgh form partnership to research data use in banking sector

  Scottish university and banking group set up research centre that will aim to improve the use of banking data

• June 07, 2023 07 Jun'23

  Open banking regulator sets out next steps

  Plans for ongoing evolution of the UK open banking sector have been set out by regulator in bid to grow the open banking sector in a ‘safe, scalable and economically sustainable way’

• June 07, 2023 07 Jun'23

  Payments regulator makes APP fraud reimbursement mandatory

  UK payments regulator confirms changes to rules around repaying customers who lose money to authorised push payment fraudsters

• June 06, 2023 06 Jun'23

  Indian IT services giant takes UK teachers’ pensions contract from Capita

  Tata Consultancy Services bolsters its growing UK public sector customer base with key contract win

• June 06, 2023 06 Jun'23

  Mercedes Pay turns vehicles into payment devices

  German car manufacturer add contactless payment feature to enable drivers to find and book parking spaces and pay automatically when they arrive

• June 05, 2023 05 Jun'23

  Bank of International Settlement sets up channel secure from quantum breach

  The Bank of International Settlement has worked with two of Europe's central banks to explore preventing the security risks posed by quantum computers

• June 05, 2023 05 Jun'23

  UK has time limit on ensuring cryptocurrency regulatory leadership, says Parliamentary report

  Parliamentary report makes 53 recommendations to the government's plans to regulate cryptocurrency

• June 05, 2023 05 Jun'23

  Sweden is developing its own big language model

  Artificial Intelligence Sweden is leading an initiative to build a large language model not only for Swedish, but for all the major languages in the Nordic region: Danish, Swedish, Norwegian, Icelandic, and Faroese

• June 01, 2023 01 Jun'23

  HSBC explores quantum computing for finance sector

  UK banking giant works with quantum computing specialist to explore the technology’s potential in the finance sector

• May 31, 2023 31 May'23

  Lloyds Bank calls on tech companies to control social media ‘wild west’

  Lloyds Banking Group is calling on tech giants to step forward in the fight against online fraud, which emanates in the social media ‘wild west’

• May 30, 2023 30 May'23

  Europe’s central bank reveals drop in Euro Zone card fraud

  Euro Zone card fraud drops with card-not-present scams down following the introduction of Strong Customer Authentication rules

• May 30, 2023 30 May'23

  Downstream breaches of Capita customers spreading

  As many as 90 organisations that used Capita services have now reported data breaches arising from various security incidents at the outsourcer

• May 30, 2023 30 May'23

  Tech jobs to go as part of JPMorgan layoffs

  According to reports, US banking giant to cut hundreds of jobs, including role reductions in technology and operations

• May 25, 2023 25 May'23

  Fintech pioneer Anne Boden steps aside from challenger bank CEO role

  Fintech pioneer to step aside for a new CEO after 10 years building a UK banking unicorn

• May 24, 2023 24 May'23

  Kuwait bank introduces biometric payments card

  Middle East bank launches payment cards with fingerprint sensor technology embedded

• May 24, 2023 24 May'23

  JPMorgan’s UK digital retail bank adds more than a million customers in a year

  The app-based bank launched in the UK by US giant JPMorgan has added one million customers in the past 12 months

• May 23, 2023 23 May'23

  Visa to recruit 1,500 tech staff in Poland

  Visa’s latest global tech hub will recruit up to 1,500 staff, with focus on artificial intelligence, cyber security, and resilience in payments and ecommerce sectors

• May 10, 2023 10 May'23

  UKtech50 2023: Vote for the most influential person in UK technology

  Our judges have selected the top 50 leaders from a shortlist of more than 300 people – now it’s your chance to tell us who you think is the most influential person in UK technology

• May 10, 2023 10 May'23

  Black Basta ransomware attack to cost Capita over £15m

  Exceptional costs arising from the March 2023 Black Basta ransomware attack on the systems of outsourcer Capita will be somewhere between £15m and £20m, the organisation says

• May 09, 2023 09 May'23

  UKtech50 2023: The longlist of the UK’s influential tech leaders

  Each year, Computer Weekly launches a search for the most influential people in UK IT, asking the tech community who it thinks should be in the top 50 – here is the longlist of everyone nominated for 2023

• May 05, 2023 05 May'23

  Capita pension clients told data may have leaked

  Capita has told trustees of some of the pension funds for which it provides outsourced services that their customer data may have been stolen by the Black Basta ransomware operation

• May 05, 2023 05 May'23

  Open banking use to increase 470% in next four years, driven from Europe

  Europe is leading the surge in the take-up of API-based open banking services, according to Juniper Research

• May 05, 2023 05 May'23

  Santander reports increase in scams and admits fraud head was impersonated

  Santander has reported an increase in impersonation scams, and admitted its own head of fraud was impersonated by a fraudster

• May 04, 2023 04 May'23

  Age UK calls for physical banking hubs as older people demand face-to-face banking

  UK charity calls for banks and government to speed up the introduction of physical banking hubs as research reveals millions of older people don’t bank online

• May 03, 2023 03 May'23

  Government anti-fraud strategy targets the tech behind the scams

  The UK government’s anti-fraud strategy proposes to make it much harder for criminals to target their victims by cracking down on the exploitation of technology