News

IT for financial services

• March 27, 2018 27 Mar'18

  Most top UK firms fail to disclose cyber risk testing details

  Most of the largest UK companies do not reveal their testing of cyber protection plans and do not share security updates with the board regularly, a Deloitte report reveals

• March 26, 2018 26 Mar'18

  Police arrest €1bn cyber heist mastermind

  Police have arrested a key member of the Carbanak gang believed to be responsible for more than 100 cyber heists worldwide

• March 26, 2018 26 Mar'18

  Blockchain not ready for cross-border bank payments

  The use of blockchain in certain parts of the financial services industry is limited at present due to the additional IT work required around its use

• March 26, 2018 26 Mar'18

  Swedish study talks up benefits of artificial intelligence

  A major report has reassured Swedish society that artificial intelligence will be a positive force for change despite fears of job losses

• March 23, 2018 23 Mar'18

  European insurtech growth dwarfs US

  Europe is seeing rapid growth in its insurtech as investors pump hundreds of millions into the sector

• March 22, 2018 22 Mar'18

  Privacy group calls for UK response to data exploitation

  Policy-makers need to respond swiftly to the Cambridge Analytica and Facebook data exploitation scandal, according to privacy rights group

• March 22, 2018 22 Mar'18

  Colt pioneers blockchain in telco voice wholesaling

  Colt Technology Services and Hong Kong Telecom’s international unit PCCW Global teamed up to trial the use of blockchain in wholesale voice settlements

• March 22, 2018 22 Mar'18

  Application layer DDoS attacks increasing, Imperva data shows

  Distributed denial of service attacks targeting applications almost doubled in the last three months of 2017, according to Imperva Incapsula data

• March 22, 2018 22 Mar'18

  Fintechs weigh up their partnership options

  Fintechs need to consider what type of companies they should work with to make the most of open banking regulations

• March 22, 2018 22 Mar'18

  Chancellor of the exchequer announces UK fintech strategy

  The government has outlined its plans to support the financial technology industry in the UK

• March 21, 2018 21 Mar'18

  IT attracts more foreign investment projects to UK than other sectors

  IT accounts for the highest number of foreign direct investment projects in the UK, which should come as a warning to the UK government to listen to the sector

• March 21, 2018 21 Mar'18

  RBS said to be setting up its own digital bank

  Royal Bank of Scotland is reportedly setting up a standalone digital bank to take advantage of changing customer habits

• March 20, 2018 20 Mar'18

  Ireland eyes Brexit-triggered tech investments

  The organisation that champions Ireland to foreign investors has seen an increase in IT companies moving to its shores

• March 20, 2018 20 Mar'18

  IBM delivers Watson-powered voice assistant for consumer brands

  Alexa and Google Assistant have taken residence in people's homes. IBM aims to give companies a way to deliver their own branded AI voice assistants

• March 20, 2018 20 Mar'18

  Brexit is an opportunity to transform, says HMRC digital transformation director

  HMRC’s digital transformation director Brigid McBride on Brexit opportunities, using AI and robotics to improve services, and growing the API ecosystem

• March 19, 2018 19 Mar'18

  First Direct enables customers to pay by Siri

  Customers of online bank First Direct can now use voice commands to transfer money through Apple’s digital assistant

• March 16, 2018 16 Mar'18

  Employers face hiring crisis as AI replaces mid-skilled jobs

  Artificial intelligence could replace two-thirds of existing jobs within 20 years, and employers will face growing difficulties recruiting skilled staff

• March 16, 2018 16 Mar'18

  Cyber criminals using complex financial system, study shows

  Cyber criminals are using a combination of new cryptocurrencies, gaming currencies and micro-payments to launder up to $200bn in ill-gotten gains, research has revealed

• March 15, 2018 15 Mar'18

  With auditability, deep learning could revolutionise insurance industry

  The likes of Google may be pushing deep learning in artificial intelligence, but it may not be the best approach for regulated industries

• March 14, 2018 14 Mar'18

  Kenyan solar supplier leans on IoT and fintech for new growth

  Mastercard packed its stand at Mobile World Congress with new use cases for fintech in the developing world and launched a new partnership with Kenyan solar energy supplier M-KOPA

• March 14, 2018 14 Mar'18

  Most people think cryptocurrency will be accepted on buses by 2025

  Cryptocurrency is a mystery to many people, yet 55% of respondents to a survey expect shops and buses to accept digital money in seven years’ time

• March 12, 2018 12 Mar'18

  BNP Paribas integrates Tink as part of PSD2 strategy

  BNP Paribas Fortis is working with fintech company Tink to integrate software into its mobile app, which will enable customers to aggregate their finances

• March 09, 2018 09 Mar'18

  Amazon bank could have 70 million customers in five years

  Amazon could have more banking customers in the US than the UK has citizens within five years

• March 08, 2018 08 Mar'18

  How banks can make sense of digital disruption

  Banks and financial institutions need to go back to basics, deconstruct their core banking processes and strive for zero defects in building applications, says the IT head honcho of Malaysia’s CIMB Bank

• March 08, 2018 08 Mar'18

  EC reveals plan to make Europe global fintech hub

  The European Commission has unveiled proposals to boost the EU’s financial technology sector

• March 08, 2018 08 Mar'18

  Tech City targets companies outside of London for next cohort in accelerator programme

  Tech City UK has placed more of an emphasis on companies outside of the capital for its next accelerator cohort

• March 08, 2018 08 Mar'18

  CIO interview: Kevin Hanley, head of innovation, Royal Bank of Scotland

  Royal Bank of Scotland's head of innovation talks to Computer Weekly about creating and supporting change, bringing different technologies together, and how 2018 could be the year blockchain innovation comes to fruition

• March 08, 2018 08 Mar'18

  Denmark’s MobilePay expands in Finnish market through deal with retailer

  Deal with Finland’s largest grocery retailer helps mobile payment service spread its reach

• March 08, 2018 08 Mar'18

  Businesses warned not to ignore cryptojacking threat

  Businesses should not ignore the threat of malware designed to carry out illicit cryptocurrency mining, warns NTT Security

• March 07, 2018 07 Mar'18

  Wi-Fi provider uses big data analytics to drive customer experience

  The self-styled “Uber of Wi-Fi”, iPass is using Databricks’ Unified Analytics Platform and machine learning to monitor its worldwide network and help its customers get the best experience

• March 07, 2018 07 Mar'18

  World Economic Forum creates fintech focus group for cyber security

  WEF consortium of companies will focus on protecting financial technology firms from cyber threats

• March 07, 2018 07 Mar'18

  Banks more confident than other sectors in face of digital disruption

  Banks have accepted the changes brought about by digital disruption and are confident that new technologies will be core to their business success, according to a survey by Fujitsu

• March 06, 2018 06 Mar'18

  Amazon contemplating next move in banking sector

  Amazon is in talks with a bank about setting up a current account that will appeal to young people

• March 05, 2018 05 Mar'18

  Yorkshire Building Society implements cloud banking platform

  Yorkshire Building Society is using a cloud-based banking platform built on Salesforce.com to automate manual tasks

• March 02, 2018 02 Mar'18

  Bank of England chief calls for cryptocurrency regulation

  Bank of England governor calls on cryptocurrencies to be regulated to protect financial system and reduce illicit activities

• March 02, 2018 02 Mar'18

  Equifax ups breach figure by a further 2.5 million

  Credit rating agency Equifax has increased the number of US records believed to have been compromised in 2017

• March 02, 2018 02 Mar'18

  Vast majority of consumers unaware of Open Banking consequences, research finds

  Research shows most consumers have little or no knowledge of the Open Banking regulation and how it will affect them

• March 02, 2018 02 Mar'18

  Wearables join mobiles as high-growth payment methods

  Banks must develop broad contactless payment strategies if they are to keep pace with consumer demand

• March 01, 2018 01 Mar'18

  Are mobile wallets about to make contactless cards look outdated?

  Mobile wallets look set to take root as consumers increasingly use their mobile phones to pay for goods and services

• February 28, 2018 28 Feb'18

  Open Banking could bring an extra £1bn to UK economy

  As a result of the Open Banking initiative, an additional £1bn could be available to drive the UK economy forward

• February 28, 2018 28 Feb'18

  Virgin Money launches digital bank

  Virgin Money is setting up a digital bank to expand into the current account and SME business account markets

• February 27, 2018 27 Feb'18

  Main business objective of fintechs is collaboration with traditional finance firms

  Fintechs put working with traditional financial suppliers as their most important business priority

• February 26, 2018 26 Feb'18

  NatWest opens four UK fintech hubs

  NatWest has expanded its financial technology support programme at a time when entrepreneurs are more apprehensive than ever

• February 26, 2018 26 Feb'18

  Cryptomining is top attack type, says Malwarebytes

  Malicious cryptomining has been the top cyber criminal activity detected since September 2017, a report reveals

• February 26, 2018 26 Feb'18

  2018 could be year of mobile malware, says McAfee 

  Security firm announces several mobile industry partnerships as its latest mobile threat report shows mobile malware is becoming increasingly popular with cyber attackers

• February 23, 2018 23 Feb'18

  RBS’s first profit in a decade accompanied by major first for mobile channel

  News of its first profit in 10 years might overshadow a major first for the Royal Bank of Scotland’s mobile channel

• February 22, 2018 22 Feb'18

  Unprotected Kubernetes consoles expose firms to cryptojacking

  A number of big companies have been targeted by crytojacking attacks, where cyber criminals hijack computing power to mine cryptocurrencies, but some have unprotected Kubernetes consoles in common

• February 22, 2018 22 Feb'18

  MPs run the rule over digital currency to identify risks and opportunities

  MPs are taking a close look at the potential opportunities and risks associated with the UK adoption of cryptocurrencies and the technology that underpins them

• February 22, 2018 22 Feb'18

  First Direct pilots open banking platform

  HSBC's internet banking platform is testing out its service that enables customers to put all their bank accounts, from multiple providers, in one place

• February 22, 2018 22 Feb'18

  Email attacks and incident detection top security challenges

  Email inboxes are the weakest link in security perimeters, and companies struggle with detecting security incidents quickly and accurately, a report finds