News

IT for financial services

• September 07, 2021 07 Sep'21

  Banking anti-fraud scheme blocks 65% more fraud

  Scheme designed to protect vulnerable people against banking fraud has been expanded to include online scams

• September 03, 2021 03 Sep'21

  China accused of cyber attacks on Norwegian IT systems

  China-based cyber attackers have been blamed for multiple assaults on IT systems in Norway

• September 02, 2021 02 Sep'21

  How high can the contactless card limit go without two-factor authentication?

  The spending limit for contactless cards has reached an eyebrow-raising triple-digit figure – £100 – raising questions about the need for user authentication

• September 02, 2021 02 Sep'21

  Finance firms faced up to £760,000 costs per DNS attack during pandemic

  Financial services firms have been the focus of attacks by cyber criminals during the Covid-19 crisis

• September 01, 2021 01 Sep'21

  University of Sunderland applies technology through robot dog

  Students will apply technologies such as artificial intelligence to robotic dog as part of their learning

• August 27, 2021 27 Aug'21

  Are proposed data protection changes a threat to UK citizens’ privacy?

  Though changes are as-yet undefined pending an upcoming consultation, concerns are already being expressed over the government’s plan to liberalise data protection laws in the service of innovation and growth

• August 26, 2021 26 Aug'21

  Tech giants commit to Biden's cyber security action plan

  Some of the world’s most prominent tech giants have made a series of commitments to enhance the US’ national cyber security posture following a high-profile meeting with president Biden

• August 26, 2021 26 Aug'21

  Government unveils post-Brexit data flow proposals

  The government will pursue data partnerships with countries including Australia, South Korea and the US as part of a post-Brexit data regime that may also see substantial changes to the UK’s data protection law

• August 26, 2021 26 Aug'21

  NZ privacy lead John Edwards named new information commissioner

  DCMS has named John Edwards, currently New Zealand privacy commissioner, to succeed Elizabeth Denham as UK information commissioner

• August 25, 2021 25 Aug'21

  UK loses £1.3bn to fraud and cyber crime so far this year

  New figures from the National Fraud Intelligence Bureau show a threefold spike in reported financial losses to fraud and cyber crime in the first six months of 2021

• August 24, 2021 24 Aug'21

  Half of MS Exchange servers at risk in ProxyShell debacle

  Up to 50% of MS Exchange users in the UK are exposed to three vulnerabilities that are now being actively exploited

• August 23, 2021 23 Aug'21

  IBM unveils Telum to combat financial fraud in real time

  Completely new architecture means the AI accelerator chip does not need to pass data to and from the main processor, PCI bus or operating system

• August 20, 2021 20 Aug'21

  Swedish IT industry braced for China’s response to Huawei 5G ban

  Swedish IT and communications equipment suppliers fear economic backlash from China following Huawei ban

• August 19, 2021 19 Aug'21

  How Bet365 addressed Apple’s iOS App Store policy changes

  Apps on the iOS app store need to be more ‘Apple like’, with a common user experience. We find out how Bet365 achieved app portability

• August 19, 2021 19 Aug'21

  Challenger banks make reputational gains in business banking

  The business banking sector is a big target for digital challengers and some are already building good reputations in the market

• August 17, 2021 17 Aug'21

  What will be the bank branch balance in the digital age?

  Will the traditional banks be permanently disadvantaged by the need to retain bank branches or could they turn it to their advantage?

• August 16, 2021 16 Aug'21

  NAB partners AWS, global banks on open finance

  Australia’s NAB teams up with three other banks and AWS to run an open global finance challenge that will see participating teams prototype new digital banking services

• August 12, 2021 12 Aug'21

  Regulatory complexity hinders cloud adoption by financial services firms, Google study finds

  Business leaders within the financial services space reveal details of what is holding up cloud adoption within their industry in latest Google poll

• August 11, 2021 11 Aug'21

  Hacker makes off with $600m in world’s largest crypto-heist

  Despite bagging $600m worth of cryptocurrency in what has been described as the biggest decentralised finance hack, the hacker has already started returning the funds

• August 11, 2021 11 Aug'21

  Global fintech investments reach new heights

  The global financial technology industry is emerging from the pandemic-triggered slowdown with record levels of investment to fuel further growth

• August 10, 2021 10 Aug'21

  Banks could be blocked from closing branches through FCA legislation

  UK financial services regulator the Financial Conduct Authority considers legislation that could block some bank branch closures to ensure citizens have easy access to cash

• August 10, 2021 10 Aug'21

  Third of finance firms accelerate use of artificial intelligence to detect money laundering

  Financial services firms are stepping up their use of artificial intelligence and machine learning technology to fight increasing money laundering activity

• August 10, 2021 10 Aug'21

  Dutch lead the way in protecting themselves against internet risks

  Dutch citizens come top in a study on awareness of internet risks in Europe, which showed major differences across the continent

• 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