News
IT for financial services
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December 01, 2023
01
Dec'23
The Security Interviews: Mark McClain, SailPoint Technologies
SailPoint founder and CEO Mark McClain reflects on how the concept of identity has evolved over the past 20 years, and points to rapid evolution still to come
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November 30, 2023
30
Nov'23
Government’s Online Fraud Charter welcomed
The government has corralled 11 of the largest tech platforms in the world to commit to its Online Fraud Charter, designed to tackle online scams, fake adverts, and more
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November 27, 2023
27
Nov'23
MPs have ‘little confidence’ in Making Tax Digital success
MPs say HMRC’s Making Tax Digital programme is riddled with widespread and repeating failures, and criticise the programme for failing to be open about the costs and increased burdens on taxpayers
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November 27, 2023
27
Nov'23
‘Excited’ finance firms pump money into digital technology
Over three-quarters of finance firms are currently restricted in what they can spend on technology due to the global economic climate, but expect spending to resume next year
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November 27, 2023
27
Nov'23
India's Hexaware creates hundreds of jobs in UK
Hexaware opens IT services operation in Birmingham, with a plan to recruit 250 people in the region by 2025
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November 23, 2023
23
Nov'23
DWP to surveil bank accounts of benefit claimants for fraud
The UK government has outlined how it plans to tackle benefit fraud by giving the Department for Work and Pensions new powers compelling banks to collect and share data on claimants’ bank accounts
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November 23, 2023
23
Nov'23
Three-quarters of finance executives expect generative AI to replace them
Survey reveals an expectation that GenAI will take over many of the finance executive roles currently held by people
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November 20, 2023
20
Nov'23
JPMorgan Chase tops bank AI ranking
Report reveals that JPMorgan Chase is the world's top bank for AI, along with Capital One and Royal Bank of Canada, but Europeans are lagging behind
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November 16, 2023
16
Nov'23
Interview: Dan Huddart, CTO, Homeprotect
After building up experience in the insurance sector, Homeprotect’s chief technology officer sought the freedom to innovate being offered at the rapidly scaling company
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November 15, 2023
15
Nov'23
US government reinforces ICBC hack link to Citrix Bleed
US Treasury adds weight to reports that a ransomware gang gained access to the systems of Chinese bank ICBC by exploiting a critical Citrix flaw
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November 14, 2023
14
Nov'23
Million Brits could lose access to bank branch if closure rate continues
Even people in urban constituencies could lose access to a local bank branch, according to research
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November 13, 2023
13
Nov'23
Lloyds Bank warns over rising threat of crypto scams
Report by Lloyds Banking Group finds there has been a 23% increase in cryptocurrency scams in 2023 compared with last year, targeting mostly younger investors
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November 13, 2023
13
Nov'23
Shawbrook Bank slashes mortgage processing time through low code
Specialist business lending and savings bank is using Pegasystems’ low-code platform to rewrite and automate the customer journey
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November 10, 2023
10
Nov'23
Ransomware attack on major Chinese lender disrupts financial markets
The financial services arm of one of the world’s largest banks was taken offline by a supposed LockBit ransomware attack, causing problems for US markets
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November 09, 2023
09
Nov'23
Visa launches artificial intelligence advisory service
Visa is giving its customers the opportunity to tap into its global network of AI experts through its AI Advisory Practice.
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November 06, 2023
06
Nov'23
NatWest taps IBM skills for generative AI
NatWest and IBM are developing generative AI capabilities to expand the capabilities of the bank’s virtual customer assistant
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November 06, 2023
06
Nov'23
Netherlands starts building its own AI language model
Dutch government allocates €13.5m to develop an open artificial intelligence language model according to national values and guidelines.
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November 01, 2023
01
Nov'23
Cloud banking fintech unicorn cuts 50 staff
UK fintech unicorn reduces its total staff by about 7% with sales and marketing roles taking the biggest hit.
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November 01, 2023
01
Nov'23
Banking should start testing out quantum ideas
The finance sector should not ignore quantum computing, even though the technology is not yet ready
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November 01, 2023
01
Nov'23
Lloyds bank kicks off Hyderabad operation
Lloyds Banking Group has opened its latest tech operation in Hyderabad, with plans to recruit around 600 IT experts
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November 01, 2023
01
Nov'23
Darktrace CEO Poppy Gustafsson on her AI Safety Summit goals
As the AI Safety Summit at Bletchley Park takes place, Computer Weekly caught up with Darktrace CEO Poppy Gustafsson to find out what one of the UK’s most prominent AI advocates wants from proceedings
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October 31, 2023
31
Oct'23
Over a quarter of UK adults use buy now, pay later fintechs
Latest research from UK financial services regulator shows BNPL more likely to be used by people experiencing financial difficulty
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October 25, 2023
25
Oct'23
UK Finance paints mixed picture of fraud as losses top £500m
UK losses to fraud in the first six months of the year topped £500m, but a slight decline in overall crime rates was observed, according to UK Finance’s latest data
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October 20, 2023
20
Oct'23
CDO interview: Carter Cousineau, vice-president of data and model governance, Thomson Reuters
The news and information provider places a premium on responsible and ethical use of artificial intelligence, and central to that is the governance of data and the models surrounding it
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October 04, 2023
04
Oct'23
Lloyds Bank launches digital identity app
Lloyds Bank has launched a digital identity app with tech startup Yoti, after it invested £10m in the firm
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October 04, 2023
04
Oct'23
Visa to invest $100m in generative AI startups
Payments giant investing in startups that focus on applying generative AI to commerce and payments
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September 26, 2023
26
Sep'23
HMRC names and shames non-compliant umbrella firms for running tax avoidance schemes
The government tax collection agency is stepping up its efforts to prevent contractors falling victim to non-compliant umbrella firms with three new names added to its list of known tax avoidance schemes
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September 25, 2023
25
Sep'23
Visa to fund AI scholarships for underrepresented students in government scheme
Payments giant supports UK scheme to increase diversity in the data and artificial intelligence sector through funding
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September 18, 2023
18
Sep'23
Unregulated DeFi services abused in latest pig butchering twist
Pig butchering scammers are taking advantage of the unregulated nature of DeFi crypto trading apps to siphon off even more money from their victims, according to the latest findings of an ongoing investigation
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September 18, 2023
18
Sep'23
Government seeks industry views on cyber threat to UK CNI
The Science, Innovation and Technology Select Committee is seeking evidence from the cyber sector as it launches an inquiry into the resilience of the UK's critical national infrastructure
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September 15, 2023
15
Sep'23
Number of UK contactless payments rose by 30% last year
UK consumers are increasingly making contactless payments, with the number of payments using the technology up 30% last year
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September 13, 2023
13
Sep'23
Banks less focused on metaverse technology than last year
Senior banking executives have reduced their focus on investigating metaverse technology in the past 12 months
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September 13, 2023
13
Sep'23
Patch Tuesday: Microsoft fixes zero-days in Word and Streaming Service
September 2023 brings a light Patch Tuesday, with two zero-days and five critical vulnerabilities listed in the latest release
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September 12, 2023
12
Sep'23
European enterprises to spend more on generative IT to close gap on US
European organisations are upping their spending on generative AI innovation, but face challenges recruiting the right people to support this
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September 12, 2023
12
Sep'23
European fintech investment plummets, but more sustainable future lies ahead
Investment in European fintechs has seen a dramatic drop, but a more sustainable sector will result from investment discipline
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September 11, 2023
11
Sep'23
University of Glasgow launches Centre for data science and AI
Scottish university will apply artificial intelligence and data science to help solve some of the world's biggest challenges
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September 08, 2023
08
Sep'23
HSBC collaborates on hybrid quantum optimisation
The bank, which wants to be at the forefront of quantum computing, is looking at how it can manage collateral assets more efficiently
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September 08, 2023
08
Sep'23
Sensitive NatWest customer files set to be returned after High Court agreement
Sensitive NatWest customer files set to be secured by bank after years in the home of a data breach whistleblower
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September 06, 2023
06
Sep'23
Saudi Arabian fintech gets Mastercard boost
Saudi-based fintechs could soon benefit from Mastercard's extensive payments network
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September 05, 2023
05
Sep'23
London Stock Exchange plans blockchain-based market
The London Stock Exchange plans to have a blockchain-based trading venue available in the next 12 months
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August 31, 2023
31
Aug'23
Thousands of Klarna staff access ChatGPT Enterprise
Fintech unicorn Klarna has become an early adopter of the enterprise version of ChatGPT as it continues to focus on artificial intelligence
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August 30, 2023
30
Aug'23
July sees huge jump in open banking payments
The number of open banking payments in the UK have doubled over the past year, according to latest figures
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August 30, 2023
30
Aug'23
Zurich Insurance slashes ServiceNow application development time
Insurance giant cuts time it takes to complete development of ServiceNow applications by days
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August 29, 2023
29
Aug'23
Top-performing CISOs reserve time for professional development
Survey of chief information security officers conducted by Gartner sheds light on habits shared by the top-performing members of the profession
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August 23, 2023
23
Aug'23
Cyber attacks in 2023 develop quicker as average dwell times plummet
The median attacker dwell time shrunk from 10 to eight days in the first seven months of 2023, and in the case of ransomware attacks it is down to just five days
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August 18, 2023
18
Aug'23
NatWest customer calls bank’s handling of breach of his data ‘disgusting’
A second NatWest customer has contacted Computer Weekly after finding out from a whistleblower that his sensitive personal data has been in her home for 14 years
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August 15, 2023
15
Aug'23
TSB and Fintech Scotland lab open for applications
High street bank opens applications to its latest fintech programme in partnership with Fintech Scotland
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August 15, 2023
15
Aug'23
Bank of England core system experiences outage
The “beating heart” of the UK financial system stopped after a technical issue
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August 14, 2023
14
Aug'23
NatWest offers compensation to customer affected by data breach exposed by whistleblower
NatWest bank has offered compensation to a former customer affected by a data breach alongside around 1,600 other former and current customers
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August 07, 2023
07
Aug'23
Rise in fraudsters spoofing the websites of leading UK banks
Despite safeguards to protect customers from scams, UK retail banks are still seeing high volumes of fake phishing websites exploiting their brands, and the problem seems to be increasing in scope and scale