News

IT for financial services

• February 13, 2024 13 Feb'24

  How DBS is industrialising AI across its business

  Southeast Asia’s biggest lender is building a strong data foundation and upskilling employees on data and artificial intelligence to realise its vision of becoming an AI-fuelled bank

• February 13, 2024 13 Feb'24

  Hunter-killer malware volumes seen surging

  Latest Picus Security report on malware tactics, techniques and procedures reveals an increasing focus on disabling security defences

• February 09, 2024 09 Feb'24

  Europe carves out niche in quantum computing

  As the US, China and Europe accelerate investment in quantum computing, Europe is beginning to develop its own unique position in the fledgling global ecosystem

• February 06, 2024 06 Feb'24

  UK’s McPartland Cyber Review to probe trust in technology

  The UK government has launched a cyber security review that will investigate how best to give businesses the confidence they need to use new technologies

• January 31, 2024 31 Jan'24

  Aviva signs 15-year contract with Indian IT giant

  Tata Consultancy Services continues to make large gains in the UK life insurance and pensions sector

• January 25, 2024 25 Jan'24

  Bugcrowd sees surge in vulnerability submissions, led by public sector

  Crowdsourced vulnerability disclosure and bug bounty platform Bugcrowd says it saw a 151% uptick in submissions related to government and public sector organisations in 2023

• January 24, 2024 24 Jan'24

  WebKit vulnerability sparks Apple’s first major security update of 2024

  A zero-day in the open source WebKit browser engine that powers Safari has sparked Apple’s first major patch roll-out of the new year

• January 24, 2024 24 Jan'24

  AI will heighten global ransomware threat, says NCSC

  The benefits of artificial intelligence to cyber criminals being well-known, the NCSC now assesses it’s likely AI will soon be widely used to enhance ransomware attacks

• January 23, 2024 23 Jan'24

  Treat cyber risk like financial or legal issue, says UK government

  UK government and NCSC launch proposed code of practice on cyber security governance to help directors and business leaders toughen their defences

• January 23, 2024 23 Jan'24

  Leak of 26 billion records may prove to be ‘mother of all breaches’

  The discovery of a dataset comprising 26 billion stolen records may prove to be record-breaking in both its size and the danger it poses to ordinary people

• January 23, 2024 23 Jan'24

  SEC bitcoin hack was result of SIM-swapping

  A cyber attack on the US financial regulator earlier in January 2024 occurred after hackers took over one of its mobile phone accounts in a so-called SIM-swapping attack

• January 17, 2024 17 Jan'24

  Victims of 2023 Capita data breaches head to High Court

  More than 5,000 people impacted by data breaches arising from two cyber incidents affecting outsourcer Capita have joined a group action lawsuit

• January 15, 2024 15 Jan'24

  Santander bank added 4,500 tech staff last year

  Santander added thousands of IT staff to its global operation last year, as part of its digital transformation

• January 11, 2024 11 Jan'24

  Cisco fixes high-impact flaw in unified comms platform

  Cisco unified comms customers are urged to patch a critical vulnerability in Unity Connection, a messaging and voicemail product

• January 10, 2024 10 Jan'24

  Windows Kerberos, Hyper-V vulns among January Patch Tuesday bugs

  Microsoft starts 2024 right with another slimline Patch Tuesday drop, but there are some critical vulns to be alert to, including a number of man-in-the-middle attack vectors

• January 10, 2024 10 Jan'24

  SEC social media hack highlights value of MFA

  The US SEC briefly appeared to approve new bitcoin trading rules after a social media account was targeted by troublemakers, proving the value of MFA once again

• January 09, 2024 09 Jan'24

  Babuk Tortilla ransomware decryptor made available

  A joint effort between Cisco Talos, Avast and the Dutch police will bring relief to many victims of a variant of the Babuk ransomware known as Tortilla

• January 05, 2024 05 Jan'24

  Information Commissioner questions DWP plan to monitor bank accounts of benefit claimants

  The Information Commissioner has warned that legislation to give new powers to the Department of Work and Pensions to check bank accounts of benefit claimants for indications of fraud lacks appropriate safeguards

• January 03, 2024 03 Jan'24

  Artificial intelligence to the front in Sweden’s National Technology Strategy

  Sweden focuses in on artificial intelligence in its latest far-reaching national IT strategy

• January 03, 2024 03 Jan'24

  Fighting money laundering with AI

  Mike Foster, CEO of SymphonyAI Sensa-NetReveal, talks up how AI can be used to fight financial crime and how the company’s technology can augment existing AML investments

• December 22, 2023 22 Dec'23

  Top 10 Middle East stories of 2023

  Middle Eastern countries are on digital journeys, with many pinning their futures on expertise in advanced technologies

• December 22, 2023 22 Dec'23

  Top 10 financial services and fintech stories of 2023

  Generative AI is the buzzword on every financial services IT professional’s lips as the technology promises to accelerate the ongoing fintech revolution

• December 21, 2023 21 Dec'23

  Top 10 cyber crime stories of 2023

  Ransomware gangs dominated the cyber criminal underworld in 2023, a year that will prove notable for significant evolutionary trends in their tactics

• December 20, 2023 20 Dec'23

  ALPHV/BlackCat operation down, but maybe not out

  Multinational law enforcement has targeted the operations of the notorious ALPHV/BlackCat cyber extortion gang, but the group’s members appear to remain defiant

• December 13, 2023 13 Dec'23

  Microsoft’s Christmas present for cyber teams: no zero-days

  Barely 30 vulnerabilities, and no zero-days, have been fixed in the final Patch Tuesday drop of 2023

• December 04, 2023 04 Dec'23

  CIO interview: Sasha Jory, Hastings Direct

  For a company aiming to be the biggest digital insurer in the UK, that means going cloud-first, and focusing on innovation for both customers and employees

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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.

• 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

• 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.

• 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.

• 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

• 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

• 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

• 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

• 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

• 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