IT for financial services
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News
11 Jul 2024
Dutch research firm TNO pictures the SOC of the future
In only a few years, security operations centres will have a different design and layout, and far fewer will remain Continue Reading
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News
11 Jun 2024
Cobol knowledge crisis threatens Dutch financial systems
Expertise in complex Cobol systems, critical to major financial institutions, is dwindling in The Netherlands, resulting in retired professionals returning work Continue Reading
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News
04 Dec 2023
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 Continue Reading
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News
01 Dec 2023
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 Continue Reading
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News
30 Nov 2023
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 Continue Reading
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News
27 Nov 2023
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 Continue Reading
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News
27 Nov 2023
‘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 Continue Reading
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News
27 Nov 2023
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 Continue Reading
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Opinion
24 Nov 2023
DORA raises the stakes for cloud use in financial services
The EU's DORA regulations will raise the stakes for cloud in financial services but resilience is more than just a tech issue, says NetApp's Steve Rackham Continue Reading
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News
23 Nov 2023
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 Continue Reading
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News
23 Nov 2023
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 Continue Reading
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News
20 Nov 2023
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 Continue Reading
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News
16 Nov 2023
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 Continue Reading
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News
15 Nov 2023
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 Continue Reading
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News
14 Nov 2023
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 Continue Reading
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News
13 Nov 2023
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 Continue Reading
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News
13 Nov 2023
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 Continue Reading
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News
10 Nov 2023
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 Continue Reading
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News
09 Nov 2023
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. Continue Reading
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News
06 Nov 2023
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 Continue Reading
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News
06 Nov 2023
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. Continue Reading
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News
01 Nov 2023
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. Continue Reading
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News
01 Nov 2023
Banking should start testing out quantum ideas
The finance sector should not ignore quantum computing, even though the technology is not yet ready Continue Reading
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News
01 Nov 2023
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 Continue Reading
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News
01 Nov 2023
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 Continue Reading
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Feature
31 Oct 2023
The world's most advanced Arabic LLM is now available on open source
On 30 August 2023, Abu Dhabi-based Inception, a subsidiary of G42, announced the release of an Arabic large language model to open source Continue Reading
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News
31 Oct 2023
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 Continue Reading
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Opinion
30 Oct 2023
The implications of biased AI models on the financial services industry
The Bank of England has warned of the risk artificial intelligence models present in creating bias that could pose a threat to the UK’s financial services sector. How do those risks emerge and how they might be mitigated? Continue Reading
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Feature
25 Oct 2023
Finland shows off its new 20-qubit quantum computer
Anybody who scoffs at Finland’s lofty ambitions in the field of quantum computing should remember that not only is the country home to one of Europe's most successful companies (Nokia), but it also houses Europe’s most powerful supercomputer (LUMI). Continue Reading
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News
25 Oct 2023
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 Continue Reading
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News
20 Oct 2023
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 Continue Reading
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Opinion
19 Oct 2023
DORA: Moving into a new era of digital resilience
The EU’s Digital Operational Resilience Act will come into force in just over a year, the majority of risk management professionals are only at the beginning of their planning journey. Kate Needham-Bennett of Fusion Risk Management explains how to get things moving Continue Reading
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News
04 Oct 2023
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 Continue Reading
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News
04 Oct 2023
Visa to invest $100m in generative AI startups
Payments giant investing in startups that focus on applying generative AI to commerce and payments Continue Reading
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Opinion
04 Oct 2023
AI vs software outsourcing: An opportunity or a threat?
While artificial intelligence offers unprecedented opportunities for growth, efficiency and automation, it also raises pertinent questions about the future of software outsourcing Continue Reading
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News
26 Sep 2023
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 Continue Reading
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News
25 Sep 2023
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 Continue Reading
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Opinion
25 Sep 2023
Insights from launching a developer-led bank
A software developer's approach to building a bank in the digital age. Continue Reading
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Opinion
19 Sep 2023
Ending the online fraud epidemic
A different approach to managing personal data across the web is possible - and it could minimise online fraud, boost e-commerce, and help make the web more secure. So why isn't the government doing it? Continue Reading
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News
18 Sep 2023
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 Continue Reading
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News
18 Sep 2023
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 Continue Reading
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News
15 Sep 2023
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 Continue Reading
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News
13 Sep 2023
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 Continue Reading
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News
13 Sep 2023
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 Continue Reading
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News
12 Sep 2023
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 Continue Reading
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News
12 Sep 2023
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 Continue Reading
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News
11 Sep 2023
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 Continue Reading
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News
08 Sep 2023
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 Continue Reading
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News
08 Sep 2023
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 Continue Reading
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Feature
07 Sep 2023
Interview: Ashish Gupta, head of EMEA, HCLTech
It’s not just enterprises that changed their operating models during and after Covid, but also the suppliers that took them on the journey, HCLTech Europe’s head explains Continue Reading
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News
06 Sep 2023
Saudi Arabian fintech gets Mastercard boost
Saudi-based fintechs could soon benefit from Mastercard's extensive payments network Continue Reading
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News
05 Sep 2023
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 Continue Reading
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News
31 Aug 2023
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 Continue Reading
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News
30 Aug 2023
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 Continue Reading
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News
30 Aug 2023
Zurich Insurance slashes ServiceNow application development time
Insurance giant cuts time it takes to complete development of ServiceNow applications by days Continue Reading
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News
29 Aug 2023
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 Continue Reading
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News
23 Aug 2023
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 Continue Reading
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News
18 Aug 2023
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 Continue Reading
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News
15 Aug 2023
TSB and Fintech Scotland lab open for applications
High street bank opens applications to its latest fintech programme in partnership with Fintech Scotland Continue Reading
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News
15 Aug 2023
Bank of England core system experiences outage
The “beating heart” of the UK financial system stopped after a technical issue Continue Reading
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News
14 Aug 2023
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 Continue Reading
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Opinion
11 Aug 2023
Why technology jobs are proving resilient
The clamour for technology professionals has become less frenetic in recent months but demand for IT skills remains high Continue Reading
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News
07 Aug 2023
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 Continue Reading
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Feature
31 Jul 2023
Chief data officer interview: Neema Raphael, Goldman Sachs
After two decades at Goldman Sachs, Neema Raphael tells Computer Weekly about his tech journey at one of the world’s biggest banks Continue Reading
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News
25 Jul 2023
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 Continue Reading
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Opinion
24 Jul 2023
Transforming the financial system's plumbing
Executive heading up the Bank of England’s core system replacement project says the financial services sector plumbing is getting the attention it deserves. Continue Reading
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News
24 Jul 2023
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 Continue Reading
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News
13 Jul 2023
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 Continue Reading
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News
12 Jul 2023
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 Continue Reading
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News
10 Jul 2023
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 Continue Reading
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News
05 Jul 2023
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 Continue Reading
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News
03 Jul 2023
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 Continue Reading
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News
03 Jul 2023
Deutsche Bank completes migration of millions of Postbank customers
Deutsche Bank has completed the migration of 12 million Postbank customers to its banking platform Continue Reading
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Opinion
29 Jun 2023
Has mobile become the battleground for banking?
Head of Insights at data.ai discusses the unstoppable freight train that is the mobile banking revolution Continue Reading
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News
28 Jun 2023
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 Continue Reading
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News
27 Jun 2023
Infosys to acquire Danske Bank Indian IT centre as part of $454m outsourcing deal
Agreement will accelerate Danske Bank’s digital transformation and widen Infosys’ growing customer base in the Nordic region. Continue Reading
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News
26 Jun 2023
HSBC leaving Canary Wharf headquarters
HSBC is to leave its current Canary Wharf headquarters by 2027 as hybrid-working policies reduce demand for office space Continue Reading
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News
22 Jun 2023
UK pension scheme expands relationship with IT services giant TCS
Tata Consultancy Services retains contract with UK pension scheme for another decade after extending a contract that was first signed in 2011 Continue Reading
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News
22 Jun 2023
Lloyds Bank to open tech centre in India
UK bank taps into Hyderabad tech ecosystem by opening a tech centre focused on improving digital experiences for customers Continue Reading
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News
21 Jun 2023
Software spending grows fastest as finance firms spend $652bn on tech in 2023
Banks and investment firms are increasing their spending on IT despite gloomy economic outlook, but priorities have changed Continue Reading
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News
21 Jun 2023
Co-op Group adds nearshore engineering resources
Manchester headquartered Co-op group adds additional engineering resources as competition for talent in the UK ramps up Continue Reading
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News
20 Jun 2023
Mizuho Financial Group trials generative AI for development and maintenance
Japanese bank is working with Fujitsu to explore potential for using generative artificial intelligence technology in system development and maintenance Continue Reading
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Definition
19 Jun 2023
PCI compliance
PCI compliance is adherence to the set of policies and procedures developed to protect credit, debit and cash card transactions and prevent the misuse of cardholders' personal information. Continue Reading
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News
19 Jun 2023
Prime minister Rishi Sunak faces pressure from banks to force tech firms to pay for online fraud
The UK’s major banks have told the prime minister to force tech firms to do more to prevent fraud that the banks end up paying for Continue Reading
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News
19 Jun 2023
Early June Microsoft outages were result of large-scale DDoS hit
Investigations into recent outages on Microsoft Azure and Outlook services have turned up evidence of a massive distributed denial-of-service attack Continue Reading
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News
19 Jun 2023
Jordan’s Ahli Bank launches app on cloud-native platform
Middle East bank launches app on latest cloud-native banking platform from Google-inspired company Continue Reading
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News
19 Jun 2023
Visa takeover means economic turmoil won’t slow Tink’s progress
Tink is one of the pioneers of the open banking sector, and under Visa’s light-touch ownership is continuing to think like a startup Continue Reading
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News
19 Jun 2023
Dutch government puts up €123m to address shortage of ICT workers
Financial injection aimed at improving cooperation between vocational education and business in the Netherlands, and making the tech professions more attractive Continue Reading
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News
16 Jun 2023
Collaboration in finance sector develops prototype API for digital currency
The Bank for International Settlements and the Bank of England worked with private sector on central bank digital currency experiment Continue Reading
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News
16 Jun 2023
BBVA uses AI and analytics services from AWS
BBVA invests in Amazon Web Services cloud platforms to help transform itself into an organisation driven by AI and data Continue Reading
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News
16 Jun 2023
Citi US Personal Banking turns to AI to ‘delight’ customers with personalised services
Citigroup’s US Personal Banking business has created a repository of customer data and is rolling out a decision engine to provide customers with personalised services Continue Reading
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News
14 Jun 2023
TSB calls on Meta to intervene and protect users from fraud losses of £250m this year
TSB is the latest bank to demand more action from social media sector in helping to reduce online fraud Continue Reading
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News
14 Jun 2023
Banks still investing heavily in legacy payments systems
Banks are missing out on additional revenues through payment services because they are stuck with inflexible legacy payments systems. Continue Reading
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News
13 Jun 2023
Belgian bank leaps forward in digital transformation through core banking outsourcing deal
Online bank moves to a software-as-a-service core banking platform to ‘leapfrog’ in-house development Continue Reading
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News
13 Jun 2023
GoCardless cuts jobs and wants its ‘startup spirit’ back
Payments fintech unicorn GoCardless will cut its workforce in the UK as part of a 15% reduction in its global workforce Continue Reading
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News
13 Jun 2023
Delayed Making Tax Digital programme to cost taxpayers extra £1.5bn
HM Revenue and Customs’ (HMRC) Making Tax Digital programme, which is running several years behind schedule, is expected to cost five times more than planned, National Audit Office (NAO) report finds Continue Reading
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News
12 Jun 2023
Annual spend on regtech to reach more than £200bn by 2028
Global corporates will spend over $200bn in 2028 as the technology is used to help organisations in more industries comply with complex regulations. Continue Reading
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News
08 Jun 2023
Sweden’s Ikano Bank outsources core banking to TCS
Ikano Bank moves to cloud banking platform from Indian IT services giant Tata Consultancy Services Continue Reading
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News
08 Jun 2023
UK gets new rules to regulate crypto sector
The Financial Conduct Authority is introducing new rules to regulate the cryptoasset sector, after being handed a government remit to oversee crypto promotions Continue Reading
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News
07 Jun 2023
UKtech50 2023: The most influential people in UK technology
Computer Weekly has announced the 13th annual UKtech50 – our definitive list of the movers and shakers in the UK tech sector Continue Reading
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News
07 Jun 2023
UKtech50 2023 winner: Michelle Donelan/Chloe Smith, secretary of state, DSIT
Computer Weekly looks at the achievements and successes of the Department for Science, Innovation and Technology, as its secretary of state is recognised as the most influential person in UK technology for 2023 Continue Reading
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News
07 Jun 2023
NatWest and University of Edinburgh form partnership to research data use in banking sector
Scottish university and banking group set up research centre that will aim to improve the use of banking data Continue Reading