News

IT for financial services

• May 16, 2018 16 May'18

  Morgan Stanley uses Amazon Alexa to inform customers

  US investment bank Morgan Stanley is giving customers important information about the market via Amazon's voice assistant

• May 16, 2018 16 May'18

  Nordic banks plan major digital transformation of operations

  Banks in the Nordic region are set to accelerate their spending on technology as digital services take-up accelerates

• May 15, 2018 15 May'18

  SMEs more worried about GDPR’s threat to reputation than fines

  SMEs are more worried about the damage GDPR non compliance will do to their reputations than their wallets

• May 15, 2018 15 May'18

  TSB refused help from Lloyds as IT meltdown began

  TSB turned down an offer of help from Lloyds Banking Group as the migration of customers accounts to its new banking system went wrong

• May 15, 2018 15 May'18

  Santander latest traditional player to open digital bank

  Santander is the latest traditional bank to follow an industry trend and develop a digital banking unit

• May 10, 2018 10 May'18

  Barclays to set up biggest office outside UK in India

  Bank is expanding its presence in India with plans for an office for 8,000 staff in Pune

• May 09, 2018 09 May'18

  Equifax breach lessons not learned

  Businesses are still downloading vulnerable versions of the software that was at the heart of the Equifax data breach and failing to update to safe versions, a security firm has revealed

• May 09, 2018 09 May'18

  NatWest fintech investments bear fruit as SME loans platform goes live

  Online lending platform enables small businesses to apply for loans of up to £150,000 in 10 minutes

• May 09, 2018 09 May'18

  HSBC launches open banking app

  In line with open banking regulation, HSBC has launched an app that enables users to see accounts from 21 different banks in one place

• May 08, 2018 08 May'18

  TSB offers interest rate sweetener as IT issues continue at the bank

  TSB is offering customers higher interest rate to go towards making up for the problems its core banking system migration caused customers

• May 08, 2018 08 May'18

  Financial sector cyber-related laws are a bellwether, says Deloitte

  As the regulatory landscape becomes more complex, organisations should look to the financial sector to see what else is coming, as well as focus on three key areas of GDPR compliance, according to Deloitte

• May 04, 2018 04 May'18

  Britons used contactless for 42% of card payments in 2017

  Paymentsense survey confirms rapid growth of contactless payments, but £30 limit is preventing further dominance

• May 04, 2018 04 May'18

  Most CIOs not interested in “massively hyped” blockchain, finds Gartner

  Despite the noise surrounding blockchain technology, not many CIOs are using it or planning to do so in the near future, finds Gartner

• May 03, 2018 03 May'18

  Fibre network breakthrough has implications for data security

  Researchers have devised a new protocol that they claim vastly extends the range of quantum key distribution over fibre networks

• May 02, 2018 02 May'18

  Fresh blow for Facebook as court refuses stay in Max Schrems legal action

  Facebook has lost a legal attempt to delay the Irish High Court from seeking answers from the European Court of Justice over the legality of EU-US data transfers

• May 02, 2018 02 May'18

  Ransomware still a threat to business, F-Secure warns

  Ransomware attacks tapered off towards the end of 2017 after an explosion in such attacks earlier in the year, but ransomware remains a threat to big business, a report reveals

• May 02, 2018 02 May'18

  RBS closes branches after axing challenger bank project

  Royal Bank of Scotland to close 162 branches and shed 800 jobs after deciding not to create a challenger bank – but a new digital bank may be on the way

• May 01, 2018 01 May'18

  MPs to grill TSB CEO over IT disaster

  Paul Pester will face questions from the Treasury Committee about the bank’s IT problems

• April 30, 2018 30 Apr'18

  TSB IT disaster moves into a second week

  TSB's IT problems have moved into a second week, as the bank fights to get its services and reputation back on track

• April 26, 2018 26 Apr'18

  Barclays aims to drive entrepreneur startup development with law incubator

  Barclays is opening its Eagle Lab incubator in London to help entrepreneurs create successful law businesses.

• April 26, 2018 26 Apr'18

  British banks target Israeli security technology

  British banks are turning to Israel’s high-tech sector to protect against cyber attacks

• April 26, 2018 26 Apr'18

  Almost all London law firms are using or plan to use artificial intelligence

  Law firms are harnessing artificial intelligence to reduce the manual creation and checking of legal documents

• 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