News

IT for financial services

• 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

• October 04, 2023 04 Oct'23

  Lloyds Bank launches digital identity app

  Lloyds Bank has launched a digital identity app with tech startup Yoti, after it invested £10m in the firm

• October 04, 2023 04 Oct'23

  Visa to invest $100m in generative AI startups

  Payments giant investing in startups that focus on applying generative AI to commerce and payments

• September 26, 2023 26 Sep'23

  HMRC names and shames non-compliant umbrella firms for running tax avoidance schemes

  The government tax collection agency is stepping up its efforts to prevent contractors falling victim to non-compliant umbrella firms with three new names added to its list of known tax avoidance schemes

• September 25, 2023 25 Sep'23

  Visa to fund AI scholarships for underrepresented students in government scheme

  Payments giant supports UK scheme to increase diversity in the data and artificial intelligence sector through funding

• September 18, 2023 18 Sep'23

  Unregulated DeFi services abused in latest pig butchering twist

  Pig butchering scammers are taking advantage of the unregulated nature of DeFi crypto trading apps to siphon off even more money from their victims, according to the latest findings of an ongoing investigation

• September 18, 2023 18 Sep'23

  Government seeks industry views on cyber threat to UK CNI

  The Science, Innovation and Technology Select Committee is seeking evidence from the cyber sector as it launches an inquiry into the resilience of the UK's critical national infrastructure

• September 15, 2023 15 Sep'23

  Number of UK contactless payments rose by 30% last year

  UK consumers are increasingly making contactless payments, with the number of payments using the technology up 30% last year

• September 13, 2023 13 Sep'23

  Banks less focused on metaverse technology than last year

  Senior banking executives have reduced their focus on investigating metaverse technology in the past 12 months

• September 13, 2023 13 Sep'23

  Patch Tuesday: Microsoft fixes zero-days in Word and Streaming Service

  September 2023 brings a light Patch Tuesday, with two zero-days and five critical vulnerabilities listed in the latest release

• September 12, 2023 12 Sep'23

  European enterprises to spend more on generative IT to close gap on US

  European organisations are upping their spending on generative AI innovation, but face challenges recruiting the right people to support this

• September 12, 2023 12 Sep'23

  European fintech investment plummets, but more sustainable future lies ahead

  Investment in European fintechs has seen a dramatic drop, but a more sustainable sector will result from investment discipline

• September 11, 2023 11 Sep'23

  University of Glasgow launches Centre for data science and AI

  Scottish university will apply artificial intelligence and data science to help solve some of the world's biggest challenges

• September 08, 2023 08 Sep'23

  HSBC collaborates on hybrid quantum optimisation

  The bank, which wants to be at the forefront of quantum computing, is looking at how it can manage collateral assets more efficiently

• September 08, 2023 08 Sep'23

  Sensitive NatWest customer files set to be returned after High Court agreement

  Sensitive NatWest customer files set to be secured by bank after years in the home of a data breach whistleblower

• September 06, 2023 06 Sep'23

  Saudi Arabian fintech gets Mastercard boost

  Saudi-based fintechs could soon benefit from Mastercard's extensive payments network

• September 05, 2023 05 Sep'23

  London Stock Exchange plans blockchain-based market

  The London Stock Exchange plans to have a blockchain-based trading venue available in the next 12 months

• August 31, 2023 31 Aug'23

  Thousands of Klarna staff access ChatGPT Enterprise

  Fintech unicorn Klarna has become an early adopter of the enterprise version of ChatGPT as it continues to focus on artificial intelligence

• August 30, 2023 30 Aug'23

  July sees huge jump in open banking payments

  The number of open banking payments in the UK have doubled over the past year, according to latest figures

• August 30, 2023 30 Aug'23

  Zurich Insurance slashes ServiceNow application development time

  Insurance giant cuts time it takes to complete development of ServiceNow applications by days

• August 29, 2023 29 Aug'23

  Top-performing CISOs reserve time for professional development

  Survey of chief information security officers conducted by Gartner sheds light on habits shared by the top-performing members of the profession

• August 23, 2023 23 Aug'23

  Cyber attacks in 2023 develop quicker as average dwell times plummet

  The median attacker dwell time shrunk from 10 to eight days in the first seven months of 2023, and in the case of ransomware attacks it is down to just five days

• August 18, 2023 18 Aug'23

  NatWest customer calls bank’s handling of breach of his data ‘disgusting’

  A second NatWest customer has contacted Computer Weekly after finding out from a whistleblower that his sensitive personal data has been in her home for 14 years

• August 15, 2023 15 Aug'23

  TSB and Fintech Scotland lab open for applications

  High street bank opens applications to its latest fintech programme in partnership with Fintech Scotland

• August 15, 2023 15 Aug'23

  Bank of England core system experiences outage

  The “beating heart” of the UK financial system stopped after a technical issue

• August 14, 2023 14 Aug'23

  NatWest offers compensation to customer affected by data breach exposed by whistleblower

  NatWest bank has offered compensation to a former customer affected by a data breach alongside around 1,600 other former and current customers

• August 07, 2023 07 Aug'23

  Rise in fraudsters spoofing the websites of leading UK banks

  Despite safeguards to protect customers from scams, UK retail banks are still seeing high volumes of fake phishing websites exploiting their brands, and the problem seems to be increasing in scope and scale

• July 25, 2023 25 Jul'23

  Mayor of London announces startup funding

  Seven technology startups working on the Mayor of London’s Poverty Prevention Challenge will receive up to £50,000 each to further develop their proposals, designed to help alleviate the cost-of-living crisis for the capital’s most vulnerable

• July 24, 2023 24 Jul'23

  Bank of England’s project to replace ‘beating heart’ is foundation for continuous development

  The Bank of England has reached a major milestone in its core system replacement programme, with next landmark in sight

• July 13, 2023 13 Jul'23

  CaixaBank adds hundreds more IT professionals to support digital transformation

  CaixaBank is recruiting 200 more IT professionals in Spain to support its ongoing digital transformation

• July 12, 2023 12 Jul'23

  Whistleblower contacts NatWest customers affected by a decade-old data breach

  Former worker says contacting the people affected by the data breach is her last resort after the bank and regulators appear satisfied that the sensitive data file is safe stored under her bed

• July 10, 2023 10 Jul'23

  Met Office bids to make climate data more accessible with Esri

  The Met Office is offering a new data portal, built on Esri’s geographic information systems technology, to enable users to understand local and national impacts of climate change

• July 05, 2023 05 Jul'23

  HSBC explores quantum-safe comms to AWS edge

  Banking group HSBC is looking at how to secure transactions and the benefits of quantum computing in finance

• July 03, 2023 03 Jul'23

  BBVA launches tech job portal as it continues to add talent

  Spanish bank BBVA ramps up its tech recruitment strategy with new online portal and target of 2,600 more people

• July 03, 2023 03 Jul'23

  Deutsche Bank completes migration of millions of Postbank customers

  Deutsche Bank has completed the migration of 12 million Postbank customers to its banking platform

• June 28, 2023 28 Jun'23

  GDPR tax reclaim scheme preys on fears of SMEs

  IT suppliers are a target of companies offering a tax reclaim scheme that preys on small businesses’ fears around General Data Protection Regulation compliance