IT for financial services

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Ethical hacker, 86, rises to Santander’s challenge

Elderly hacker with little computing experience was able to hack WiFi and create phishing attack Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Warwick Ashford, Senior analyst

Tier 2 visas – a challenge for the tech sector

With staff shortages already being reported in the technology sector and Brexit potentially adding to the problem, tech departments need to get their Tier 2 visa applications right Continue Reading

By

• Kerry Garcia and Jackie Penlington

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 Continue Reading

By

• Warwick Ashford, Senior analyst

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 Continue Reading

By

• Bill Goodwin, Computer Weekly

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 Continue Reading

By

• Warwick Ashford, Senior analyst

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 Continue Reading

By

• Warwick Ashford, Senior analyst

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” Continue Reading

By

• Warwick Ashford, Senior analyst

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 Continue Reading

By

• Warwick Ashford, Senior analyst

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 Continue Reading

By

• Kimberly Chua

Taking the quantum leap: What is quantum technology for business?

Quantum computers are many years away, but the first applications of quantum technology will arrive in only one or two years – so businesses need to be ready Continue Reading

By

• Paul Martin , PA Consulting

The UK fintech economy will create different pockets of excellence all over the country

London should not be seen as competition for fintechs in the North and they should not try to emulate London's fintech model Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Warwick Ashford, Senior analyst

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Warwick Ashford, Senior analyst

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 Continue Reading

By

• Cliff Saran, Managing Editor

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 Continue Reading

By

• Zach Emmanuel, Computer Weekly

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 Continue Reading

By

• Warwick Ashford, Senior analyst

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Gerard O'Dwyer

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Higher interest rates would tempt me even though TSB has just had an IT disaster

I would be tempted to move to a bank that offered higher interest rates even though it had just had an IT disaster Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Visiting a bank branch made me question my own conceptions

I had to rethink my conceptions about the future of bank branches after I visited one Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Hacking the internet of things just got easier – it’s time to look at your security

Are you taking security for internet-connected devices seriously enough? Continue Reading

By

• Dan Mosca, PA Consulting

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

CW Benelux: Rotterdam charts course to become world’s smartest port

The Port of Rotterdam in the Netherlands is using internet of things and artificial intelligence technology from IBM in a bid to become the world’s smartest port. Also read how companies in the Netherlands are only partly ready for the country’s version of the EU’s General Data Protection Regulation (GDPR), and why the European Central Bank thinks cash will remain in use in the Eurozone for a very long time. Continue Reading

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 Continue Reading

By

• Warwick Ashford, Senior analyst

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Warwick Ashford, Senior analyst

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 Continue Reading

By

• Zach Emmanuel, Computer Weekly

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Alex Scroxton, Security Editor

TSB IT team could get slaughtered in May

TSB's IT project will go under the microscope as the company attempts to get to the bottom of what went wrong after massive problems. Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Bill Goodwin, Computer Weekly

Outsourcing is not dead or dying – it just needs to be done properly

The collapse of Carillion and the profit warning at Capita have created a false sense of fear about the stability of the outsourcing sector Continue Reading

By

• Bob Fawthrop

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 Continue Reading

By

• Warwick Ashford, Senior analyst

TSB IT crisis: Is IT governance strong enough in banking should be the question MPs ask

When MPs ask TSB what went wrong when it embarked on a core banking system migration they should look at how IT is managed Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Warning to all banks: TSB needs help from IBM because banking industry has cut thousands of IT jobs

Banks will increasingly rely on suppliers to help them out when IT disasters strike because they simply don't have enough in-house IT experts after years of cuts. Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

Making music with AI

In this week’s Computer Weekly, we look at how artificial intelligence is being used in the creative industries such as music and books, and ask whether AI can ever replace human creativity. TSB’s IT meltdown is symptomatic of the tech challenges facing UK banks – we examine the issues. And our latest buyer’s guide analyses the trends in big data. Read the issue now. Continue Reading

Could Agile and DevOps be to blame for banking IT failures?

Is the use of Agile and Devops partly to blame fir the increasing number of IT failures at banks on recent years and is there anther way? Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

MPs to grill TSB CEO over IT disaster

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

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Fintech professional’s tech predictions: 6– Banks to sell more unbranded services to websites

Banks are taking their brand names off the high street and might increasingly do so for services they offer to ecommerce companies Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Currency of data separates leaders from laggards

With customer data growing in ever-evolving volumes, we look at how companies are using data analytics to stay in control Continue Reading

By

• Cliff Saran, Managing Editor

GDPR: An overview of the latest data protection legislation

The forthcoming General Data Protection Regulation (GDPR) will have wide-ranging implications for every organisation that processes personal data. This comprehensive overview tells you what you need to know Continue Reading

By

• Dai Davis, Percy Crow Davis & Co

Software-defined networking: gathering momentum in the enterprise?

Suppliers are pushing the benefits of software-defined networking harder than ever, and enterprises are starting to take the plunge rather than remaining on the sidelines Continue Reading

By

• Christian Annesley

After the TSB debacle, is it time for IT people to run retail banking?

Given that high-street banks are effectively little more than a computer system processing algorithms, would they be better off run by tech experts than bankers? Continue Reading

By

• Tim Worstall, Adam Smith Institute

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. Continue Reading

By

• Zach Emmanuel, Computer Weekly

British banks target Israeli security technology

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

By

• Bill Goodwin, Computer Weekly

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

TSB banking service tech problems continue

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

By

• Karl Flinders, Chief reporter and senior editor EMEA

TSB chaos: When choosing bank people should look at core banking platform and not just funky apps

If customers don't want to suffer glitches in their banking service they should ask about complexities of a bank's IT systems before selecting where to out their money Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

The biggest surprise about TSB's IT disaster is that people are still surprised when banks' IT fails

The only real surprise about TSB’s IT disaster this week is that people are still surprised when a retail bank has IT problems. There are few organisations with a more complex and difficult ... Continue Reading

By

• Bryan Glick, Editor in chief

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 Continue Reading

By

• Warwick Ashford, Senior analyst

About one million NatWest bank customers to move to RBS digital bank

More details of RBS's digital bank revealed Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Human error to blame for Ulster bank glitch, but computer seen fleeing scene of crime.

Human error to blame for problems at Ulster bank but a computer was involved Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Warwick Ashford, Senior analyst

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 Continue Reading

By

• Alex Scroxton, Security Editor

ICO and finance regulator assess TSB IT blunder

Customer data was exposed during migration to new core banking platform Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Andrew Brydon, Contino

TSB IT system chaos as bank cuts rope from Lloyds systems

TSB customers have experiienced serious proiblems as the bank migrates to its new core banking platform Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Warwick Ashford, Senior analyst

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 Continue Reading

By

• Tarmo Virki

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 Continue Reading

By

• Warwick Ashford, Senior analyst

Security Think Tank: Use good practice to address cryptojacking risk

How can organisations best defend against cryptojacking? Continue Reading

By

• Simon Persin, Turnkey Consulting

Blockchain: Paving the way for broad adoption

The foundations have been laid for organisations to begin standardising on the technology, talent and platforms that will drive future blockchain initiatives Continue Reading

By

• Mark Lillie, Deloitte

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Protecting your intellectual property in a digital world

Your business is creating innovative computer code, slick user interfaces, and is using digital technology to solve new problems. How do you protect your investment? Continue Reading

By

• Graham McGlashan, Marks & Clerk

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 Continue Reading

By

• Alex Scroxton, Security Editor

Lloyds slashes more jobs and people as fintech is deployed battle of the cost bases

Fintech is being deployed by traditional banks as they fight to reduce their cost bases as challengers win customers at a lower cost Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Warwick Ashford, Senior analyst

UK identity fraud reaches record level

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

By

• Warwick Ashford, Senior analyst

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Fintech professional’s tech predictions: 5 – better understanding of privacy settings

Consumers are set to become much more aware of the privacy settings on the websites they use Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Zach Emmanuel, Computer Weekly

The seven levers of digital transformation

Organisations that embark on digital transformation projects often run into difficulties. Following the seven principles of digital transformation will help them reap the benefits of digital technology Continue Reading

By

• Sriram Sabesan, Delegata

CW Middle East: UAE makes artificial intelligence leap

The United Arab Emirates wants to be at the heart of the artificial intelligence (AI) revolution and is already testing its mettle as a global tech advocate and innovator. Also in this issue, read how Abu Dhabi is open to developing its fintech ecosystem, with the next 12 months expected to see more focus on the sector, and how Dubai’s transport authority has enlisted Here Technologies to build a high-definition map of the city to support its goals around self-driving cars. Continue Reading

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 Continue Reading

By

• Gerard O'Dwyer

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Warwick Ashford, Senior analyst

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 Continue Reading

By

• Warwick Ashford, Senior analyst

HSBC adopts fintech to fight money laundering

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

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Alicia Buller

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Why businesses must think like criminals to protect their data

Cyber criminals use three main methods of operation to steal commercial data. Understanding their mindset can help organisations put the right defences in place Continue Reading

By

• Andy Barratt, Coalfire

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

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 Continue Reading

By

• Warwick Ashford, Senior analyst

Security Think Tank: Deal with cryptojacking to avoid security vulnerability

How can organisations best defend against cryptojacking? Continue Reading

By

• Paddy Francis