News

IT for financial services

• April 26, 2018 26 Apr'18

  TSB banking service tech problems continue

  TSB customers are still experiencing problems using online and mobile banking services after almost a week of disruption

• April 25, 2018 25 Apr'18

  Major DDoS cyber crime website shut down

  International law enforcement has shut down the Webstresser cyber crime website, which was the world’s biggest marketplace for selling distributed denial of service attack services that were used against seven UK banks

• April 25, 2018 25 Apr'18

  TSB IT meltdown has the makings of an epic

  TSB’s very public IT problems will send shivers down the spine of IT teams at large banks that are yet to migrate to new core banking systems

• April 25, 2018 25 Apr'18

  Cyber fraud costs SMEs more than £1,000 per case

  Just over half of IT and telecoms SMEs are targeted by fraudsters, with each case of cyber fraud costing more than £1,000, study reveals

• April 24, 2018 24 Apr'18

  Unified communications supplier Mitel bought by VCs

  Unified communications and networking technology supplier Mitel is to be acquired by affiliates of Searchlight Capital Partners for $2bn

• April 24, 2018 24 Apr'18

  ICO and finance regulator assess TSB IT blunder

  Customer data was exposed during migration to new core banking platform

• April 23, 2018 23 Apr'18

  The dawn of open banking in Australia

  Financial services firms will need to embrace DevOps and modernise their IT infrastructure to compete with more nimble fintech companies in an open banking regime

• April 23, 2018 23 Apr'18

  No business safe from cyber attack, says KPMG

  Businesses that operate online should be working to ensure operational resilience, while the financial sector should focus more on collaboration, says professional services firm KPMG

• April 23, 2018 23 Apr'18

  Estonia’s digital residency programme faces first headwind

  The Baltic country’s programme to offer anyone, anywhere a chance to run a company online is facing its first crisis

• April 20, 2018 20 Apr'18

  Account takeover up tenfold in past year

  The incidence of online account takeover and the proportion of high-risk account access attempts underlines the need for improved authentication, says fraud detection firm

• April 19, 2018 19 Apr'18

  UK and Indian governments agree tech partnership

  Agreement aims to identify organisations in the two countries that can work together and open up opportunities for tech entrepreneurs

• April 19, 2018 19 Apr'18

  Mastercard calls for global online payments standard

  Mastercard and its EMV partners are pushing for online payments standards similar to those for point-of-sale payments

• April 18, 2018 18 Apr'18

  Huawei debuts its first intent-based networking proposition

  At its Shenzhen Analyst Summit, Huawei unveiled its intent-based networking concept, promising to address enterprise customer pain points around network management

• April 18, 2018 18 Apr'18

  DDoS attacks cost up to £35,000

  Despite the direct financial impact of DDoS attacks, this is not considered to be the most damaging effect on companies targeted this way, a survey shows

• April 17, 2018 17 Apr'18

  UK identity fraud reaches record level

  The level of identity fraud has reached its highest level to date, a UK fraud report shows

• April 17, 2018 17 Apr'18

  Artificial intelligence will help Metro Bank customers manage their money

  Service will use AI and predictive analytics to provide personalised prompts to help customers control their spending

• April 16, 2018 16 Apr'18

  Santander uses Ripple technology to offer international payments

  Santander has launched an international fund transfer service for retail customers in the UK about two years after it started testing the blockchain-based application

• April 16, 2018 16 Apr'18

  Fintech sector increasingly attractive compared to traditional banking for IT professionals

  Fintech job vacancies are growing, while less are being advertised in traditional banking sector companies

• April 13, 2018 13 Apr'18

  Addressing consumer concerns will drive success for open banking

  Experts say consumers will feel more comfortable about sharing their data as part of open banking once more valuable use cases become available

• April 11, 2018 11 Apr'18

  Finnish government backs national AI development strategy

  Government is harnessing Finland’s tech base to help make the country a leading location for the artificial intelligence industry

• April 10, 2018 10 Apr'18

  PayPal is latest tech giant to eye traditional banking

  PayPal set to launch launch traditional retail banking services in the first half of this year

• April 10, 2018 10 Apr'18

  Ransomware top cyber threat, DBIR shows

  Ransomware remains the top cyber security threat to organisations, humans continue to be significant weakness and HR departments are a top target, according to the latest Verizon Data breach investigations report

• April 09, 2018 09 Apr'18

  More than one in 10 employees fall for social engineering attacks

  Employees download malicious files, click phishing links, correspond with hackers, and even share contact information for their colleagues, a report reveals

• April 09, 2018 09 Apr'18

  HSBC adopts fintech to fight money laundering

  HSBC is using technology from a fintech startup to help it monitor transactions for potential money laundering

• April 09, 2018 09 Apr'18

  Dubai's gamble on bitcoin property sales

  Dubai is pioneering the use of bitcoin in the real world, with the property sector leading the way

• April 06, 2018 06 Apr'18

  UK challenger bank gives up banking licence to focus on fintech

  CivilisedBank plans to serve small and medium-sized enterprises with savings and investment products

• April 06, 2018 06 Apr'18

  HSBC IT whistleblower faces extradition to Switzerland

  Hervé Falciani, who stole data from thousands of private banking customers, is apprehended in Spain following the issuing of an international arrest warrant

• April 05, 2018 05 Apr'18

  Deutsche Bank system replacement already paying back

  Deutsche bank is replacing a complex IT infrastructure that helps its traders operate and automates regulatory compliance processes

• April 05, 2018 05 Apr'18

  Retail sector top cyber attack target

  The retail sector was the top cyber attack target in 2017, as cyber attacks evolved to become more organised and structured, a report reveals

• April 05, 2018 05 Apr'18

  Interview: GDPR will give Dutch privacy watchdog its teeth

  The Netherlands’ privacy watchdog has not handed out fines so far because there has been no reason to, says the organisation’s chairman, Aleid Wolfsen

• April 04, 2018 04 Apr'18

  Ransomware puts pressure on incident response

  Cyber attackers switched focus to ransomware attacks in 2017 putting pressure on incident response, while human error was responsible for two-thirds of compromised records, a study shows

• April 04, 2018 04 Apr'18

  Average attacker dwell time nearly six months for EMEA, study shows

  Firms in Europe, the Middle East and Africa take nearly six months to detect cyber attacks on average, a report reveals

• April 03, 2018 03 Apr'18

  UK firms failing to make financial plans for cyber attacks

  Most UK firms are failing to plan for the financial impact of cyber attacks, a survey by Lloyds Bank has revealed

• March 29, 2018 29 Mar'18

  Europol operation nabs another 20 cyber criminals

  Police have arrested 20 cyber criminals in connection with a €1m fraud operation across Italy and Romania

• March 29, 2018 29 Mar'18

  AstraZeneca IT exec steps down

  Pharmaceutical giant’s vice-president of IT transformation and office of the CIO, Chris Day, is leaving the company after eight years in the role

• March 29, 2018 29 Mar'18

  Cryptocurrency mining rampant in higher education

  Higher education institutions are the biggest target for illicit cryptocurrency mining, data shows

• March 28, 2018 28 Mar'18

  Home Office ‘over-promised’ on exit checks programme, report finds

  Chief inspector of borders and immigration calls on Home Office to re-establish exit checks project with proper data quality in place, but department rejects recommendation

• March 28, 2018 28 Mar'18

  Majority of European firms unprepared for phishing attacks

  Most cyber attacks can be traced back to a phishing email, but more than half of European firms are unprepared to deal with email-based attacks, research has revealed

• March 27, 2018 27 Mar'18

  Most top UK firms fail to disclose cyber risk testing details

  Most of the largest UK companies do not reveal their testing of cyber protection plans and do not share security updates with the board regularly, a Deloitte report reveals

• March 26, 2018 26 Mar'18

  Police arrest €1bn cyber heist mastermind

  Police have arrested a key member of the Carbanak gang believed to be responsible for more than 100 cyber heists worldwide

• March 26, 2018 26 Mar'18

  Blockchain not ready for cross-border bank payments

  The use of blockchain in certain parts of the financial services industry is limited at present due to the additional IT work required around its use

• March 26, 2018 26 Mar'18

  Swedish study talks up benefits of artificial intelligence

  A major report has reassured Swedish society that artificial intelligence will be a positive force for change despite fears of job losses

• March 23, 2018 23 Mar'18

  European insurtech growth dwarfs US

  Europe is seeing rapid growth in its insurtech as investors pump hundreds of millions into the sector

• March 22, 2018 22 Mar'18

  Privacy group calls for UK response to data exploitation

  Policy-makers need to respond swiftly to the Cambridge Analytica and Facebook data exploitation scandal, according to privacy rights group

• March 22, 2018 22 Mar'18

  Colt pioneers blockchain in telco voice wholesaling

  Colt Technology Services and Hong Kong Telecom’s international unit PCCW Global teamed up to trial the use of blockchain in wholesale voice settlements

• March 22, 2018 22 Mar'18

  Application layer DDoS attacks increasing, Imperva data shows

  Distributed denial of service attacks targeting applications almost doubled in the last three months of 2017, according to Imperva Incapsula data

• March 22, 2018 22 Mar'18

  Fintechs weigh up their partnership options

  Fintechs need to consider what type of companies they should work with to make the most of open banking regulations

• March 22, 2018 22 Mar'18

  Chancellor of the exchequer announces UK fintech strategy

  The government has outlined its plans to support the financial technology industry in the UK

• March 21, 2018 21 Mar'18

  IT attracts more foreign investment projects to UK than other sectors

  IT accounts for the highest number of foreign direct investment projects in the UK, which should come as a warning to the UK government to listen to the sector

• March 21, 2018 21 Mar'18

  RBS said to be setting up its own digital bank

  Royal Bank of Scotland is reportedly setting up a standalone digital bank to take advantage of changing customer habits