News

IT for financial services

June 18, 2018 18 Jun'18
Bank uses AI to select job candidates

Singapore’s DBS Bank is using artificial intelligence to automate parts of its recruitment process
June 14, 2018 14 Jun'18
Cyber attack warnings highlight need to be prepared

Fresh warnings about the vulnerability of national infrastructure to cyber attacks show the need for securing and monitoring associated control systems connected to the internet
June 14, 2018 14 Jun'18
Bank of England to set minimum service requirements after TSB and Visa outages

The Bank of England is planning new rules for the minimum service levels that financial service providers must offer, even during IT outages
June 12, 2018 12 Jun'18
Mayor Khan bids to make London the world’s smartest city

At London Tech Week, mayor Sadiq Khan launched a city-wide initiative to harness the capital’s technology talent to address London’s most pressing problems

June 12, 2018 12 Jun'18
Insurer Beazley meets global challenge to secure mobile workforce

Beazley has stolen a march on other London-market insurers by implementing a versatile global digital workspace with improved security
June 12, 2018 12 Jun'18
BT announces “unhackable” quantum-secured network

In the face of the threat that quantum computers could crack many of the encryption methods used to protect highly sensitive data, BT has developed a “quantum-secured” network
June 11, 2018 11 Jun'18
Coinrail cyber heist highlights need for exchange security

A cyber heist at South Korea’s Coinrail has prompted fresh calls for industry regulations to drive better cyber security at cryptocurrency exchanges
June 08, 2018 08 Jun'18
Thriving fintech, AI sectors give boost to UK tech funding

British technology businesses have received £5bn worth of venture capital funding since June 2016 – more than France, Germany and Sweden put together – with fintech and AI startups standing out
June 07, 2018 07 Jun'18
IT spending reaches 10-year high as CIOs struggle with digital technology strategy

IT leaders have seen their budgets and headcounts rise for the first time in 10 years, but face challenges implementing their digital strategies
June 06, 2018 06 Jun'18
Financial Conduct Authority raises questions over TSB's IT regression testing

The FCA will look at whether TSB carried out sufficient regression and user acceptance testing before migrating to a new IT platform

June 06, 2018 06 Jun'18
HMRC puts numerous IT projects on hold to focus on Brexit

Nearly 40 technology projects and changes are being put on the backburner because of Brexit priorities, including improving HM Revenue and Customs’ data-sharing capabilities and parts of the Maxing Tax Digital programme
June 06, 2018 06 Jun'18
Understanding is key to security awareness, says specialist

Only if people understand why cyber security matters will they change their behaviours as a result of awareness training, according to a human behaviour specialist and cyber security consultant
June 04, 2018 04 Jun'18
Visa blames hardware failure for UK-wide card payment system outage

Credit card payment processor moves to assure customers that last Friday afternoon’s downtime was not the work of hackers
June 01, 2018 01 Jun'18
Visa card payments system goes down across the UK and Ireland

Millions of businesses across the UK and Ireland are unable to accept VIsa card payments because of a "service disruption"
June 01, 2018 01 Jun'18
Huge rise in TSB-themed mobile phishing attacks after IT meltdown

Scammers have used bank’s IT problems as an opportunity to target its customers with mobile phishing attacks
June 01, 2018 01 Jun'18
Ethical hacker, 86, rises to Santander’s challenge

Elderly hacker with little computing experience was able to hack WiFi and create phishing attack
May 30, 2018 30 May'18
Security community urged to prepare for quantum computing

A top European chief information security officer is urging the security community to prepare for quantum computing to ensure their encryption processes are ready in time
May 30, 2018 30 May'18
US issues warning about North Korean malware

US government has identified more than 85 networks compromised by two malware families believed to be North Korean in origin
May 29, 2018 29 May'18
Firms step up spending on digital tech, but struggle with strategy

Businesses and the public sector are stepping up their spending on digital technology, but many business leaders are struggling to keep pace with what it means for their business
May 25, 2018 25 May'18
GDPR puts people first, says ICO

The day of 25 May 2018 marks the biggest change to UK data protection law in a generation, with benefits for businesses and consumers, according to the UK privacy watchdog
May 25, 2018 25 May'18
Commitment is the watchword on GDPR D-Day

New rules for protecting European citizens’ personal data are now enforceable by law, and organisations are being advised to focus broadly on commitment rather than narrowly on compliance
May 24, 2018 24 May'18
New UK Data Protection Act not welcomed by all

Legislation makes the UK one of the first countries to implement the GDPR in local law, but some have criticised it as a “lost opportunity”
May 23, 2018 23 May'18
Mobile fraud up 680% since 2015, RSA reports

Fake profiles and throw-away devices are transforming social media into a cyber criminal marketplace, a fraud report reveals
May 23, 2018 23 May'18
Singapore to adopt European e-invoicing standard

The city-state is the first country outside Europe to embrace the Peppol e-invoicing standard to speed up business transactions and lower operating costs for SMEs
May 22, 2018 22 May'18
Legit tools exploited in bank heists

Cyber criminals attacking the finance and other industry sector are continuing to exploit legitimate administration tools to hide their activities, highlighting the need for threat hunting, a report reveals
May 22, 2018 22 May'18
A third of people would buy insurance from Google or Amazon

Consumers are increasingly likely to buy insurance from tech giants as the insurtech industry hits the mainstream
May 21, 2018 21 May'18
Pen testers find weaknesses in banks’ cyber security

Humans are the biggest weakness in banks’ cyber defences, but there are several others that also need attention, penetration testers have revealed
May 21, 2018 21 May'18
One-fifth of global banks think AI will boost customer experience

Economist Intelligence Unit survey shows nearly three-quarters of businesses think retail banking could be mostly automated by 2020
May 17, 2018 17 May'18
Blockchain technology lacks enough use cases to be disruptive, says Worldpay

Worldpay's Jason Scott-Taggart says although the company is looking at blockchain, there are too few strong use cases for the technology at present
May 17, 2018 17 May'18
European cyber attacks up nearly a third in first quarter 2018

The volume of cyber attacks hitting digital transactions in Europe was up by almost a third in the first quarter of 2018 compared with same period a year ago, a report reveals
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.