News

IT for financial services

• June 27, 2018 27 Jun'18

  Technology key to keeping staff happy

  Giving employees access to the latest technologies will improve their satisfaction and increase productivity, survey shows

• June 22, 2018 22 Jun'18

  IBM early findings on disastrous TSB core banking system migration released

  Report released by Treasury Committee criticises lack of rigour in preparation for core banking system migration, but TSB says report’s content is out of date

• June 21, 2018 21 Jun'18

  Lloyds Bank cuts 450 jobs to make way for digitisation roles

  Lloyds Banking Group has axed 450 jobs to create 255 digital-focused roles as it adapts to changes in customer banking habits

• June 20, 2018 20 Jun'18

  Banks already looking for EU-based IT staff for post-Brexit operations

  UK banks already have plans to move some of their operations to the EU, with the search for EU-based IT professionals under way

• June 20, 2018 20 Jun'18

  Nine out of 10 enterprises will use robotic process automation by 2020

  Robotic process automation take-up expected to reach 92% of European enterprises within two years, finds ISG survey

• June 20, 2018 20 Jun'18

  Dutch organisations must unite to fight DDoS attacks

  Experts in the Netherlands call on Dutch corporations and institutions to work together to help prevent distributed denial of service attacks

• June 19, 2018 19 Jun'18

  Debit card payments surpassed cash for first time in 2017

  For the first time, UK customers used debit cards to make more payments than cash in 2017, a change which has come a year earlier than expected.

• June 19, 2018 19 Jun'18

  Visa reveals 'rare' datacentre switch fault as root cause of June 2018 outage

  Visa has offered a retrospective analysis of what went wrong in its datacentre during its UK-wide outage on Friday 1 June, in response to a request from the Treasury Select Committee for more detail about the downtime

• June 19, 2018 19 Jun'18

  Surface web used in private data sales

  The surface web plays an integral role in the selling of personal information, a report on identify fraud has revealed

• June 19, 2018 19 Jun'18

  Young generation tempted by Amazon bank-like services

  Tech firms offering banking services will be inevitable in the future as more than half of young people are tempted by such a prospect

• June 18, 2018 18 Jun'18

  Bank uses AI to select job candidates

  Singapore’s DBS Bank is using artificial intelligence to automate parts of its recruitment process

• June 14, 2018 14 Jun'18

  Cyber attack warnings highlight need to be prepared

  Fresh warnings about the vulnerability of national infrastructure to cyber attacks show the need for securing and monitoring associated control systems connected to the internet

• June 14, 2018 14 Jun'18

  Bank of England to set minimum service requirements after TSB and Visa outages

  The Bank of England is planning new rules for the minimum service levels that financial service providers must offer, even during IT outages

• June 12, 2018 12 Jun'18

  Mayor Khan bids to make London the world’s smartest city

  At London Tech Week, mayor Sadiq Khan launched a city-wide initiative to harness the capital’s technology talent to address London’s most pressing problems

• June 12, 2018 12 Jun'18

  Insurer Beazley meets global challenge to secure mobile workforce

  Beazley has stolen a march on other London-market insurers by implementing a versatile global digital workspace with improved security

• June 12, 2018 12 Jun'18

  BT announces “unhackable” quantum-secured network

  In the face of the threat that quantum computers could crack many of the encryption methods used to protect highly sensitive data, BT has developed a “quantum-secured” network

• June 11, 2018 11 Jun'18

  Coinrail cyber heist highlights need for exchange security

  A cyber heist at South Korea’s Coinrail has prompted fresh calls for industry regulations to drive better cyber security at cryptocurrency exchanges

• June 08, 2018 08 Jun'18

  Thriving fintech, AI sectors give boost to UK tech funding

  British technology businesses have received £5bn worth of venture capital funding since June 2016 – more than France, Germany and Sweden put together – with fintech and AI startups standing out

• June 07, 2018 07 Jun'18

  IT spending reaches 10-year high as CIOs struggle with digital technology strategy

  IT leaders have seen their budgets and headcounts rise for the first time in 10 years, but face challenges implementing their digital strategies

• June 06, 2018 06 Jun'18

  Financial Conduct Authority raises questions over TSB's IT regression testing

  The FCA will look at whether TSB carried out sufficient regression and user acceptance testing before migrating to a new IT platform

• June 06, 2018 06 Jun'18

  HMRC puts numerous IT projects on hold to focus on Brexit

  Nearly 40 technology projects and changes are being put on the backburner because of Brexit priorities, including improving HM Revenue and Customs’ data-sharing capabilities and parts of the Maxing Tax Digital programme

• June 06, 2018 06 Jun'18

  Understanding is key to security awareness, says specialist

  Only if people understand why cyber security matters will they change their behaviours as a result of awareness training, according to a human behaviour specialist and cyber security consultant

• June 04, 2018 04 Jun'18

  Visa blames hardware failure for UK-wide card payment system outage

  Credit card payment processor moves to assure customers that last Friday afternoon’s downtime was not the work of hackers

• June 01, 2018 01 Jun'18

  Visa card payments system goes down across the UK and Ireland

  Millions of businesses across the UK and Ireland are unable to accept VIsa card payments because of a "service disruption"

• June 01, 2018 01 Jun'18

  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

• June 01, 2018 01 Jun'18

  Ethical hacker, 86, rises to Santander’s challenge

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

• May 30, 2018 30 May'18

  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

• May 30, 2018 30 May'18

  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

• May 29, 2018 29 May'18

  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

• May 25, 2018 25 May'18

  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

• May 25, 2018 25 May'18

  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

• May 24, 2018 24 May'18

  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”

• May 23, 2018 23 May'18

  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

• May 23, 2018 23 May'18

  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

• May 22, 2018 22 May'18

  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

• May 22, 2018 22 May'18

  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

• May 21, 2018 21 May'18

  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

• May 21, 2018 21 May'18

  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

• May 17, 2018 17 May'18

  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

• May 17, 2018 17 May'18

  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

• May 16, 2018 16 May'18

  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

• May 16, 2018 16 May'18

  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

• May 15, 2018 15 May'18

  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

• May 15, 2018 15 May'18

  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

• May 15, 2018 15 May'18

  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

• May 10, 2018 10 May'18

  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

• May 09, 2018 09 May'18

  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

• May 09, 2018 09 May'18

  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

• May 09, 2018 09 May'18

  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

• May 08, 2018 08 May'18

  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