News

IT for financial services

• October 25, 2022 25 Oct'22

  Digital-first businesses more willing to accept some fraud

  Companies founded in the past 20 years appear more willing to accept higher levels of fraudulent activity during the customer onboarding process, according to a report

• October 24, 2022 24 Oct'22

  Half of staff might quit after a cyber attack, report says

  Findings from a survey of CISOs, IT leaders and staffers reveal how experiencing a cyber incident may take a larger-than-thought toll on employee retention

• October 21, 2022 21 Oct'22

  HSBC chooses Oracle Exadata Cloud@Customer service to underpin digital

  Bank selects Oracle’s Cloud@Customer service to upgrade and migrate some of its database systems as part of its digital transformation

• October 21, 2022 21 Oct'22

  Ukrainian and UK IT sectors to deepen collaboration, partnerships

  BCS, the Chartered Institute for IT, and the IT Ukraine Association have signed an MoU to deepen collaboration between the UK and Ukrainian IT sectors, and champion new partnerships and growth opportunities

• October 20, 2022 20 Oct'22

  Cyber professional shortfall hits 3.4 million

  Shortage of cyber security professionals continues to grow and shows no signs of abating, says report

• October 20, 2022 20 Oct'22

  NatWest data breach whistleblower demands bank pay data controller fee to ICO

  Whistleblower calls for NatWest to pay the Information Commissioner’s Office annual data controller fee, as the personal details of 1,600 current and former NatWest customers remain under her bed

• October 19, 2022 19 Oct'22

  Lloyds Bank launches innovation sandbox

  Banking group establishes a sandbox where fintechs can build and test applications for Lloyds

• October 19, 2022 19 Oct'22

  Treat cyber crime as a ‘strategic threat’, UK businesses told

  The government’s new National Cyber Advisory Board aims to help elevate cyber discussion and spur action in the business community

• October 14, 2022 14 Oct'22

  Office 365 email encryption flaw could pose risk to user privacy

  A vulnerability in Microsoft Office 365 Message Encryption could leave the contents of emails dangerously exposed, but with no fix coming it’s up to users to decide how at risk they are

• October 12, 2022 12 Oct'22

  Finance regulator cracks down on use of messaging apps

  The Financial Conduct Authority is taking a closer look at how staff at banks are using WhatsApp in work

• October 12, 2022 12 Oct'22

  NCSC urges organisations to secure supply chains

  NCSC’s latest guidance package centres supply chain security, helping medium to large organisations assess and mitigate cyber risks from suppliers

• October 12, 2022 12 Oct'22

  Santander and Google offer tech to help businesses smooth move to cloud

  Dual Run service from Google will be built on top of Santander technology known as Gravity

• October 06, 2022 06 Oct'22

  SMEs in Europe ready to invest in real-time payment capabilities

  Small and medium-sized enterprises are losing business because of the time it takes to receive payments, with many considering API-based services to address the problem

• October 06, 2022 06 Oct'22

  JPMorgan’s UK digital bank app outage locks customers out

  App-based Chase Bank suffered tech outage that left customers unable to access its services

• October 04, 2022 04 Oct'22

  Next phase of open banking already gathering pace

  Open banking has had a major impact on the banking industry as finance forms harness data to provide better services, but the next phase of open finance promises even more

• September 30, 2022 30 Sep'22

  Interview: Rachel Hilliam, chair, Alliance for Data Science Professionals

  Rachel Hilliam talks about the origins, mission and future plans for the Alliance for Data Science Professionals

• September 29, 2022 29 Sep'22

  Cost-of-living crisis could spur fintech adoption

  The cost-of-living crisis could have a similar impact on fintech and digital banking as the Covid-19 pandemic did, inducing further innovation in the fintech sector

• September 27, 2022 27 Sep'22

  Robo investment platform adopts open banking-based payments

  Nordic consumer investment fintech simplifies customer experience through open banking software from Mastercard-owned Aiia

• September 26, 2022 26 Sep'22

  Bank warns of spike in online cost-of-living scams

  Fraudsters are exploiting the cost-of-living crisis by tricking people into sending money to help friends and relatives pay bills, TSB has warned

• September 26, 2022 26 Sep'22

  FCSA calls for government clampdown on cloned umbrella companies

  One year has passed since the Freelancer and Contractor Services Association spoke out about the problem of umbrella company cloning, and it claims the authorities are not moving fast enough to tackle the issue

• September 23, 2022 23 Sep'22

  Copenhagen Fintech connects its members to the world

  Copenhagen-based startup initiative is driving fintech developments across the Nordic region, with Mastercard its latest global partner

• September 23, 2022 23 Sep'22

  IR35 reforms to be scrapped in public and private sectors from April 2023, government confirms

  The government has confirmed that the 2017 and 2021 roll-out of the IR35 reforms to the public and private sectors, respectively, will be repealed in April 2023

• September 23, 2022 23 Sep'22

  Mini-Budget 2022: HMRC tells firms to update payroll software ahead of November NI tax cut

  HMRC is urging employers to ensure their payroll software systems are updated now, before the reversal of the previous government’s National Insurance tax hike kicks in

• September 22, 2022 22 Sep'22

  American Express recruiting thousands of tech professionals

  Amex will add 5,000 IT professionals to its workforce in 2022 as digital products and services become the staple of the finance sector

• September 21, 2022 21 Sep'22

  European Central Bank working on prototypes of digital Euro interfaces

  European Central Bank’s digital Euro investigation phase is at the point of developing and testing systems that might interface with consumers

• September 20, 2022 20 Sep'22

  Thousands of customers affected in Revolut data breach

  Digital challenger bank has warned its customers to be vigilant after their data was exposed in a cyber attack

• September 15, 2022 15 Sep'22

  Organisations failing to account for digital trust

  The vast majority of businesses are well aware of the importance of digital trust, yet very few have a dedicated staff role responsible for it, report finds

• September 14, 2022 14 Sep'22

  Ex-CISA head Krebs: Disrupt ransomware support networks to win the war

  Speaking at an event hosted by data protection specialist Rubrik, former CISA director Chris Krebs calls for the security community to work collectively to kick out the supports from under ransomware gangs

• September 14, 2022 14 Sep'22

  US to see huge increase in embedded finance transactions

  Retailers and other non-financial businesses are increasingly offering their customers financial services, such as credit and payment options

• September 14, 2022 14 Sep'22

  DDoS attacks on UK financial sector surged during Ukraine war

  A quarter of cyber security incidents reported to the Financial Conduct Authority in the first six months of 2022 involved DDoS, with a likely link to events in Ukraine

• September 13, 2022 13 Sep'22

  JP Morgan acquires fintech for payments modernisation

  JP Morgan acquires cloud-native payments technology as it modernises its IT infrastructure

• September 13, 2022 13 Sep'22

  Investment in UK fintech sees fall amid global turmoil

  Investment in fintech drops, but because figures are distorted by last year’s records, it’s not as bad as it looks, says KPMG

• September 12, 2022 12 Sep'22

  Mistakenly transferred $504m to be returned to Citigroup

  Judge rules that creditors should return $504m that was accidentally transferred to them by Citigroup

• September 12, 2022 12 Sep'22

  CISOs should spend on critical apps, cloud, zero-trust, in 2023

  Faced with a global recession next year, security buyers should try to direct investment towards technology that protects customer-facing and revenue-generating workloads, say analysts

• September 12, 2022 12 Sep'22

  Lloyd’s of London is digitally transforming through the front door

  Centuries-old financial services organisation is transforming its complex IT infrastructure through digital data

• September 05, 2022 05 Sep'22

  UK payments upgrade to add more than £3bn to GDP, but much more on offer

  UK GDP will increase when its ageing payments infrastructure is replaced with the latest technology to enable real-time payments

• September 05, 2022 05 Sep'22

  Huge leap to contactless payments in past three years

  Covid-19 pushes the use of contactless payments for face-to-face transactions to 90% of total

• September 02, 2022 02 Sep'22

  Interview: Sibstar, the fintech app for dementia sufferers

  Creator of app and debit card designed to support people living with dementia tells Computer Weekly how the idea developed

• September 02, 2022 02 Sep'22

  BBVA to add 2,000 software engineers to workforce this year

  Spanish bank BBVA is boosting its IT department while its traditional workforce reduces amid digital transformation

• August 30, 2022 30 Aug'22

  IAM house Okta confirms 0ktapus/Scatter Swine attack

  Following last week’s disclosureby Group-IB researchers of a major phishing campaign, Okta has warned its customers to be on their guard

• August 26, 2022 26 Aug'22

  Making her mark in financial technology

  Archana Manjunatha’s career in financial technology took her to the trading floors in India, where she learned the ropes of futures and options trading and the back offices of some of the world’s largest banks

• August 25, 2022 25 Aug'22

  Adaptive RedAlert, Monster ransomwares go cross-platform

  Kaspersky researchers have shared new intelligence on two emergent cyber criminal groups that have adapted their ransomwares to target different operating systems at the same time

• August 25, 2022 25 Aug'22

  Security pros fret about stress and promotion over cyber attacks

  CIISec’s annual report on the state of the security profession reveals some home truths for security leaders

• August 25, 2022 25 Aug'22

  LockBit 3.0 cements dominance of ransomware ecosystem

  Ransomware attacks were up 47% in July compared with the previous month, according to the latest threat data from NCC Group, with the LockBit family largely to blame

• August 24, 2022 24 Aug'22

  Most CISOs think they’ve been attacked by a nation state

  Most organisations have made changes to their cyber strategies and policies following Russia’s invasion, and almost two-thirds suspect they have been directly targeted or impacted by a nation-state cyber attack

• August 22, 2022 22 Aug'22

  Kaspersky threat data added to Microsoft Sentinel service

  Microsoft and Kaspersky have agreed a collaboration to integrate Kaspersky’s threat data feeds into Microsoft’s cloud-native SIEM/SOAR service

• August 22, 2022 22 Aug'22

  Lloyd’s to end insurance coverage for state cyber attacks

  Lloyd’s of London has instructed its members to exclude nation state cyber attacks from insurance policies beginning in 2023, saying they pose unacceptable levels of risk

• August 19, 2022 19 Aug'22

  Cozy Bear targets MS 365 environments with new tactics

  Cozy Bear, or APT29, is trying out new tricks as it seeks access to its targets’ Microsoft 365 environments

• August 18, 2022 18 Aug'22

  Growing MFA use spurs ‘pass-the-cookie’ attacks

  The exploitation of stolen session cookies by cyber criminals is once again back on the agenda, thanks to the growing popularity of multifactor authentication tools

• August 18, 2022 18 Aug'22

  It takes a breach to force boards to take notice of cyber, says UK government

  Too often, it takes a major incident for business leadership to pay attention to cyber issues, according to a government-commissioned study of victims