News

IT for financial services

• February 21, 2023 21 Feb'23

  Average consumer spent more than £3,300 using contactless payments in 2022

  The amount of money spent using contactless payment technology continues to rise as consumers take advantage of higher allowable spending limits

• February 20, 2023 20 Feb'23

  App-based Zopa bank buys BNPL fintech

  App-based Zopa bank is adding a buy now, pay layer platform to its technology stack through its first acquisition

• February 17, 2023 17 Feb'23

  CIO interview: Hans van der Waal, director of global IT, Travelex

  Travelex has weathered a storm that saw it sink into administration, before emerging to solidify its digital foundations for the future

• February 16, 2023 16 Feb'23

  Financial advisory firm Succession Wealth probes cyber attack

  Aviva-owned wealth consultancy and financial advisory practice Succession Wealth was hit by an undisclosed security incident on 8 February

• February 15, 2023 15 Feb'23

  Multi-purpose malwares can use more than 20 MITRE ATT&CK TTPs

  Report warns of the development of increasingly sophisticated, multi-purpose malwares, and calls on defenders to play close attention to the MITRE ATT&CK framework to ward them off

• February 15, 2023 15 Feb'23

  Microsoft fixes three zero-days in February update

  February’s Patch Tuesday update contains fixes for three previously unpublicised zero-days in Microsoft Office, Windows Graphics Component and Windows Common Log File System Driver

• February 15, 2023 15 Feb'23

  UK saw fintech investment collapse in 2022, but is still a world leader

  Fintech investment in the UK sees steep drop, but the country was still a top destination for capital

• February 14, 2023 14 Feb'23

  Vidar, nJRAT re-emerge as prominent malware threats in January

  Trojans and infostealers once again dominate the list of most commonly observed threats, according to Check Point’s latest telemetry

• February 14, 2023 14 Feb'23

  UK authorities clamp down on illegal crypto ATMs

  The Financial Conduct Authority and West Yorkshire Police have disrupted a number of illegal crypto ATMs

• February 14, 2023 14 Feb'23

  ‘Buy now, pay later’ crackdown in the making

  The finance regulator has proposed bringing ‘buy now, pay later’ providers within its regulatory remit

• February 14, 2023 14 Feb'23

  Payment tech provider opens Finnish tech hub

  Nordic payment tech supplier opens a hub in the Finnish city of Espoo to access expertise

• February 14, 2023 14 Feb'23

  UAE central bank programme to accelerate digital transformation

  The United Arab Emirates government launches programme to accelerate the digital transformation of the country’s finance sector

• February 14, 2023 14 Feb'23

  Researcher exposes crypto scam network exploiting YouTube

  A massive network of fake YouTube videos promoted by automated sock puppet accounts is reeling in hundreds of cryptocurrency enthusiasts and persuading them to hand over their money, WithSecure researchers found

• February 13, 2023 13 Feb'23

  KPMG launches metaverse and digital twin hub in Saudi Arabia

  The Saudi Arabian government’s commitment to investing in metaverse technology has attracted a KPMG centre of excellence to its shores

• February 13, 2023 13 Feb'23

  Security buyers lack insight into threats, attackers, report finds

  The majority of cyber security purchasing decisions are made without proper insight into the attackers organisations are facing, according to a Mandiant report

• February 13, 2023 13 Feb'23

  Whistleblower in limbo as sensitive NatWest customer files remain under her bed

  Whistleblower and NatWest at stalemate as regulators leave it up to them to come to an agreement on return of sensitive customer data

• February 10, 2023 10 Feb'23

  BNPL accounted for 12% of UK online spending in January

  Buy now, pay later products from fintech providers accounted for 12% of the £8bn spent online in the UK in January, according to analysis

• February 09, 2023 09 Feb'23

  Deutsche Bӧrse signs decade-long deal with Google Cloud

  German financial exchange firm Deutsche Bӧrse is expanding its long-standing partnership with Google Cloud as part of a push to ‘economise and concentrate’ its cloud strategy

• February 09, 2023 09 Feb'23

  Cost-of-living crisis creates appetite to switch banks

  As millions of Brits struggle with their finances, many view tailored financial services as beneficial

• February 09, 2023 09 Feb'23

  Banking regulatory body wants a ‘tripwire’ to flag APP fraud

  Banking code of practice organisation wants banks to monitor where authorised push payment scammers are sending stolen money

• February 07, 2023 07 Feb'23

  APP fraud reimbursement proposal is ‘fundamentally flawed’, say MPs

  MPs claim the involvement of a bank-sponsored organisation in reimbursing victims of APP fraud would be a conflict of interest

• February 07, 2023 07 Feb'23

  ‘Profound’ digital pound decision faces policymakers

  The UK Treasury has launched a consultation paper to help lay the foundations for a ‘profound decision’ over a digital currency

• February 07, 2023 07 Feb'23

  TSB pilots pods as branch replacements

  TSB joins Barclays in adopting banking pods to ensure customers have access to physical banking services as the number of high street branches declines

• February 06, 2023 06 Feb'23

  Online banks still riddled with cyber security flaws, report says

  Online bank Virgin Money was found to have the weakest online and application security measures in a Which? study but Nationwide, TSB and The Co-Operative Bank all failed on multiple points, too.

• February 06, 2023 06 Feb'23

  Estonian anti-money laundering platform used to fight APP fraud

  A real-time data-sharing platform originally built to identify money laundering is also being applied to the fight against authorised push payment fraud

• February 06, 2023 06 Feb'23

  The Security Interviews: How to overcome data protection compliance challenges

  Complying with the vast swathe of data protection legislation around the world is complex, especially for smaller organisations without the necessary expertise. Could the compliance process be simplified, and if so, how?

• February 03, 2023 03 Feb'23

  Finance regulator finding more misleading promotions quicker through improved digital tools

  UK finance regulator able to find and block misleading promotions faster through improved digital tools

• February 03, 2023 03 Feb'23

  LockBit gang confirms Ion cyber attack as disruption continues

  The LockBit ransomware cartel has taken responsibility for this week’s attack on financial software firm Ion, and is threatening to leak stolen data on Saturday 4 February

• February 03, 2023 03 Feb'23

  FCA cracks down on misleading promos by social media influencers

  Social media is becoming a major part of the FCA’s work in clamping down on misleading financial advertising and promotions, with multiple influencers rapped for their behaviour

• February 02, 2023 02 Feb'23

  Suspected LockBit ransomware attack causes havoc in City of London

  A suspected LockBit ransomware attack on trading software firm Ion has caused chaos for City of London traders

• February 02, 2023 02 Feb'23

  UK government announces plans to protect consumers through cryptoasset regulation

  UK government wants feedback on its plans to regulate organisations operating in the cryptoasset sector

• February 01, 2023 01 Feb'23

  Cloud security top risk to enterprises in 2023, says study

  A PwC study finds senior executives expect cyber attacks on cloud services to increase significantly this year

• February 01, 2023 01 Feb'23

  PayPal slashes 2,000 jobs in face of tough economic outlook

  Fintech giant making thousands of redundancies as global economic outlook remains poor

• February 01, 2023 01 Feb'23

  Malware variant can block contactless payments

  Kaspersky warns that the latest variant of the Prilex malware can block contactless payments to force people to insert cards, enabling criminals to steal money

• February 01, 2023 01 Feb'23

  UK Cyber Council and ISACA launch audit, assurance programme

  The UK Cyber Security Council has teamed up with ISACA to partner on a new audit and assurance programme for security pros

• January 31, 2023 31 Jan'23

  Crédit Agricole tests quantum in finance

  The corporate and investment bank has run experiments with Pasqal and Multiverse to demo quantum computing in finance

• January 31, 2023 31 Jan'23

  Zurich Insurance Group plots multiyear move to AWS public cloud

  Multiline insurance firm Zurich is plotting a move to the AWS public cloud to help revamp its customer offerings

• January 31, 2023 31 Jan'23

  Digital banking changing the high street forever as banks close branches and open alternatives

  Banks are reshaping their channels as customers move to digital services, with physical innovation complementing digital strategies

• January 31, 2023 31 Jan'23

  Mark Logan on his vision for a Scottish technology ecosystem

  The Scottish Government’s entrepreneur advisor speaks to Computer Weekly about the philosophy behind an ambitious technology ecosystem strategy

• January 27, 2023 27 Jan'23

  Hive ransomware gang taken down after FBI hacks back

  The FBI hacked into Hive’s servers, stole its decryption keys and then took down its servers in a major action that has successfully disrupted a prolific and dangerous ransomware operation

• January 26, 2023 26 Jan'23

  Final months of 2022 saw highest ever number of bank account switches

  More people than ever before switched their current account provider using the government’s switching service

• January 25, 2023 25 Jan'23

  UK Treasury recruiting digital currency leader

  The UK government’s investigation into the merits of a central bank digital currency gathers pace at it looks for a team leader

• January 25, 2023 25 Jan'23

  Boards struggle to resolve cyber risk in digital supply chains

  Accelerated digitisation of supply chains is introducing more cyber risk for which many organisations seem unprepared, according to the BSI’s annual report on supply chain risk

• January 24, 2023 24 Jan'23

  UK insurers need to up their game on cyber gaps, says PRA

  Gaps and limitations in how insurers respond to cyber risk need to be addressed, according to the Bank of England regulator, the Prudential Regulation Authority

• January 24, 2023 24 Jan'23

  Nationwide Building Society CIO to join Co-operative Bank

  Gary Delooze to join Co-operative Bank as CIO after six years heading up Nationwide Building Society’s IT department

• January 24, 2023 24 Jan'23

  SSRF attacks hit 100,000 businesses globally since November

  There has been a dramatic increase in attacks exploiting the ProxyNotShell/OWASSRF exploit chains to target Microsoft Exchange servers

• January 24, 2023 24 Jan'23

  Fake online contest makes Yahoo! most phished brand of Q4 2022

  Yahoo! was the most frequently phished brand during the last three months of 2022, according to a report

• January 24, 2023 24 Jan'23

  SMEs keen on embedded finance, but more choice needed to increase take-up

  Suppliers to small and medium-sized enterprises need to offer more choice when embedding financial products in their services if take-up is to increase

• January 23, 2023 23 Jan'23

  More than 1,000 tech roles chopped at Capital One

  US bank makes tech job cuts as its digital transformation moves into a new phase

• January 19, 2023 19 Jan'23

  Fraudsters and cyber criminals stole more than £4bn in the UK through 2022

  The amount of money stolen by fraudsters and cybercriminals in the UK saw a huge increase in 2022