News

IT for financial services

• September 12, 2023 12 Sep'23

  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

• September 11, 2023 11 Sep'23

  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

• September 08, 2023 08 Sep'23

  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

• September 08, 2023 08 Sep'23

  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

• September 06, 2023 06 Sep'23

  Saudi Arabian fintech gets Mastercard boost

  Saudi-based fintechs could soon benefit from Mastercard's extensive payments network

• September 05, 2023 05 Sep'23

  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

• August 31, 2023 31 Aug'23

  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

• August 30, 2023 30 Aug'23

  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

• August 30, 2023 30 Aug'23

  Zurich Insurance slashes ServiceNow application development time

  Insurance giant cuts time it takes to complete development of ServiceNow applications by days

• August 29, 2023 29 Aug'23

  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

• August 23, 2023 23 Aug'23

  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

• August 18, 2023 18 Aug'23

  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

• August 15, 2023 15 Aug'23

  TSB and Fintech Scotland lab open for applications

  High street bank opens applications to its latest fintech programme in partnership with Fintech Scotland

• August 15, 2023 15 Aug'23

  Bank of England core system experiences outage

  The “beating heart” of the UK financial system stopped after a technical issue

• August 14, 2023 14 Aug'23

  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

• August 07, 2023 07 Aug'23

  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

• July 25, 2023 25 Jul'23

  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

• July 24, 2023 24 Jul'23

  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

• July 13, 2023 13 Jul'23

  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

• July 12, 2023 12 Jul'23

  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

• July 10, 2023 10 Jul'23

  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

• July 05, 2023 05 Jul'23

  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

• July 03, 2023 03 Jul'23

  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

• July 03, 2023 03 Jul'23

  Deutsche Bank completes migration of millions of Postbank customers

  Deutsche Bank has completed the migration of 12 million Postbank customers to its banking platform

• June 28, 2023 28 Jun'23

  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

• June 27, 2023 27 Jun'23

  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.

• June 26, 2023 26 Jun'23

  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

• June 22, 2023 22 Jun'23

  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

• June 22, 2023 22 Jun'23

  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

• June 21, 2023 21 Jun'23

  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

• June 21, 2023 21 Jun'23

  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

• June 20, 2023 20 Jun'23

  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

• June 19, 2023 19 Jun'23

  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

• June 19, 2023 19 Jun'23

  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

• June 19, 2023 19 Jun'23

  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

• June 19, 2023 19 Jun'23

  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

• June 19, 2023 19 Jun'23

  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

• June 16, 2023 16 Jun'23

  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

• June 16, 2023 16 Jun'23

  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

• June 16, 2023 16 Jun'23

  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

• June 14, 2023 14 Jun'23

  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

• June 14, 2023 14 Jun'23

  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.

• June 13, 2023 13 Jun'23

  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

• June 13, 2023 13 Jun'23

  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

• June 13, 2023 13 Jun'23

  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

• June 12, 2023 12 Jun'23

  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.

• June 08, 2023 08 Jun'23

  Sweden’s Ikano Bank outsources core banking to TCS

  Ikano Bank moves to cloud banking platform from Indian IT services giant Tata Consultancy Services

• June 08, 2023 08 Jun'23

  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

• June 07, 2023 07 Jun'23

  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

• June 07, 2023 07 Jun'23

  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