IT for financial services

Top 10 Nordic IT stories of 2021

Computer Weekly selects some of the biggest Nordic tech stories of 2021 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Vulnerabilities to fraud are increasing across the board

As the pandemic continues to affect how we work, socialise, shop and conduct business, so it has increased opportunities for digital fraud and cyber crime. Jason Lane-Sellers explores the latest LexisNexis Risk Solutions ‘Cybercrime report’ Continue Reading

By

• Jason Lane-Sellers, EMEA director of market planning, LexisNexis Risk Solutions

Is the IT sector beset by fear-mongering?

The arms race between hackers and security teams has led to a plethora of new technologies, but it can be hard to differentiate between sensible cyber purchases and those that are promoted by exaggerating risk Continue Reading

By

• Peter Ray Allison

A trial relying on computer evidence should start with a trial of the computer evidence

Learning from the Post Office Horizon scandal - the most widespread miscarriage of justice in recent British legal history Continue Reading

By

• Stephen Castell

Top 10 financial services and fintech stories of 2021

Computer Weekly selects 10 key stories from the financial services IT sector over the past year Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Large organisations turning to digital currencies for stored value

Gartner predicts a major acceleration in the use of digital currencies over the next couple of years Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

IT services spending recovery to get renewals boost in 2022

IT services and BPO deals worth $18.5bn globally up for renewal next year, adding fuel to already-expected high growth Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Security Think Tank: Reframing CISO-boardroom relations

Security learning is a career-long process, so as 2021 draws to a close, participants in the Computer Weekly Security Think Tank sum up the most important cyber lessons they’ve taken away from the past 12 months Continue Reading

By

• Emma Bickerstaffe, Information Security Forum (ISF)

HSBC fined £64m for automated transaction monitoring failures

Bank hit by multimillion-pound fine for failures related to its transaction monitoring, which failed to spot potential money-laundering activity Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Barclays selects HPE GreenLake to host 100,000 workloads

Bank sees a need to provide more personalised digital experiences, and GreenLake is providing the IT infrastructure to help it get there Continue Reading

By

• Cliff Saran, Managing Editor

Nationwide Building Society moves website to Azure cloud

Building society’s tech teams work with consultancy Contino to implement new website using the chaos engineering method Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

After Log4j, December Patch Tuesday piles on the pressure

December’s Patch Tuesday update from Microsoft contains several critical CVEs, but this month all attention is focused on the fall-out from Log4Shell, and burn-out is becoming a real issue Continue Reading

By

• Alex Scroxton, Security Editor

AIB signs up to z15-powered transformation

Irish bank has continued its investment in IBM z-series hardware and the Red Hat software portfolio to help it achieve its digital transformation goals Continue Reading

By

• Cliff Saran, Managing Editor

UK government to take ‘whole-of-society’ approach to cyber

Second iteration of the UK’s National Cyber Strategy broadens its focus to build a ‘whole-of-society’ security posture Continue Reading

By

• Alex Scroxton, Security Editor

Which? tells banks to stop rushing branch closures

Consumer rights protector says banks should pause branch closures until they can ensure people have access to cash and services Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Multibillion-dollar quantum opportunities if error rate recedes

Management consultant McKinsey discusses a potential $700bn opportunity in the pharma, finance, automotive and chemicals sectors Continue Reading

By

• Cliff Saran, Managing Editor

Almost half of networks probed for Log4Shell weaknesses

Close to half of corporate networks have already been actively targeted by individuals seeking to exploit the critical Log4Shell Apache bug Continue Reading

By

• Alex Scroxton, Security Editor

What is Log4Shell, and why are we panicking about it?

It’s been described as a ‘design failure of catastrophic proportions’ that threatens the very fabric of the digital world. Find out what the Log4j2 Log4Shell panic is all about, and what you should do about it Continue Reading

By

• Alex Scroxton, Security Editor

Channelling Nordic startup innovation towards global survival

Nordic startup innovation offers global organisations the green light towards sustainability Continue Reading

By

• Matthew Staff

What are the challenges associated with the MITRE ATT&CK framework?

Businesses sometimes struggle to use the MITRE ATT&CK framework effectively. Learn more about some of the challenges, and how to overcome them Continue Reading

By

• Shannon Flynn, ReHack Magazine

2021 another record-breaker for vulnerability disclosure

More than 50 CVEs were logged every day in 2021, more than at any time since records began, while ethical hackers continue to prove their value Continue Reading

By

• Alex Scroxton, Security Editor

Most consumers expect banks to cover losses to scams

Consumers expect banks to cover losses to cyber crime, as the number of attacks grows Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

CIO interview: Nicola Wadham, Financial Ombudsman Service

CIO Nicola Wadham brings Computer Weekly up to speed on the Financial Ombudsman Service’s IT challenges and successes Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Zopa to focus on banking after closing peer-to-peer lending

Peer-to-peer lending pioneer Zopa to focus on its banking operation after the closure of its original business Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Former TSB CEO joins money-sharing fintech

Paul Pester teams up with fintech heavyweights to target multibillion-pound money-sharing market Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Security Think Tank: Attackers leveraging the supply chain

Security learning is a career-long process, so as 2021 draws to a close, participants in the Computer Weekly Security Think Tank sum up the most important cyber lessons they have taken away from the past 12 months Continue Reading

By

• Paddy Francis

Fintech boss fires 900 staff on one Zoom call

Better.com boss used a Zoom call to tell 900 people they no longer had a job Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

APAC banks gear up on cloud, but challenges remain

Public cloud spending by financial institutions in the region is rising even as they grapple with legacy IT challenges and cost concerns Continue Reading

By

• Aaron Tan, TechTarget

IT Priorities 2022: Pandemic’s long tail for cyber buyers

Pandemic response has been top of mind for cyber leaders these past 18 months, and as Covid-19 turns two, the TechTarget/Computer Weekly IT Priorities 2022 study shows buyers are still focused on how Covid has upended the workplace Continue Reading

By

• Alex Scroxton, Security Editor

European finance firms increase open banking spend

Financial services firms are increasing investment in open banking capabilities, with improvements to payment initiation and onboarding capabilities expected Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Consumers say supermarkets among best at social engagement

Many types of business have improved their online interactions with consumers as a result of the pandemic, with consumers claiming supermarkets are among the most engaging Continue Reading

By

• Clare McDonald, Business Editor

Virgin Money adapts offices to fit flexible and collaborative working

Virgin Money is repurposing its offices to fit a future where staff will work from home and visit offices to collaborate Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Bank of Ireland fined €24.5m for business continuity failures

Bank of Ireland hit with multi-million euro fine by central bank following an investigation Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Millions of credit card details for sale on dark web for as little as 75p

The credit card details of millions of people from across the world can be bought by criminals using the dark web for as little as $1 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Security Think Tank: Think people, processes and systems

Security learning is a career-long process, so as 2021 draws to a close, participants in the Computer Weekly Security Think Tank sum up the most important cyber lessons they’ve taken away from the past 12 months Continue Reading

By

• Cate Pye, PA Consulting

A ‘whole of society’ approach to cyber may be on the horizon

Nominet Cyber managing director David Carroll reflects on the NCSC’s latest annual review amid 2021’s fast-evolving threat landscape Continue Reading

By

• David Carroll, Nominet Cyber

Cloud-based Redwood becomes latest challenger bank to make a profit

Cloud-based business bank becomes the latest of the new wave of challengers to achieve profit Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Swedish researchers are patiently developing a useful quantum computer

By 2028, the Wallenberg Centre for Quantum Technology in Sweden expects to have a useful quantum computer Continue Reading

By

• Pat Brans, Pat Brans Associates/Grenoble Ecole de Management

UK bank branch cull continues as TSB condemns 70 more

TSB’s branch closure programme gathers pace as dozens more high street premises are shuttered Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

HP patches bugs in over 150 printer models

More than 150 HP multifunction printers are at risk of compromise through a series of newly disclosed vulnerabilities, one of them wormable Continue Reading

By

• Alex Scroxton, Security Editor

Second Mizuho executive quits after IT problems

IT failures have forced the CEO of Japanese financial services group to step down Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Three latest trends and developments around the Mitre ATT&CK framework

Framework is set to receive important updates to help organisations and businesses evolve their cyber security. Learn more about what it offers Continue Reading

By

• Shannon Flynn, ReHack Magazine

UK consumers warned of increase in credit card application fraud

There has been a sharp rise in fraudsters using stolen personal details to open credit card accounts Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Societe Generale accelerates data and artificial intelligence strategy

French investment banking giant increases its focus on data and artificial intelligence as digital transformation matures Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Men’s Mental Health Month: How fintech can reduce anxiety around debt

Umer Suleman of ethical investment firm Wahed explains how financial technology can reduce anxieties associated with debt Continue Reading

By

• Umer Suleman

Four-day week introduced for staff at digital bank

UK’s Atom Bank brings in four-day working week for employees with no salary reduction Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Upcoming holidays prompt ransomware warning from authorities

Ransomware gangs know how calendars work, and may target their attacks around major holidays to take advantage of more people being off work, according to a new alert Continue Reading

By

• Alex Scroxton, Security Editor

How Axa drives digitisation forward

Digital transformation is not a one-shot project – it’s a continuous and evolving process that requires a mindset change in IT management Continue Reading

By

• Cliff Saran, Managing Editor

Government to legislate to make APP fraud reimbursement mandatory

UK payments regulator wants to reduce the huge sums of money lost to authorised push payment fraud and is calling on the banking and tech industries to play their part Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Amazon to stop accepting Visa credit cards in UK due to high fees

Online retail giant Amazon will stop accepting UK Visa credit card payments from January next year Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Blueprint for future high street shows tech’s role in creating thriving communities

Technology will play an important role in creating thriving communities after Covid-19 lockdowns renew interest in local high streets Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Can UAE become a world leader in AI?

The UAE has launched multiple programmes as it bids to be a world-leading location for artificial intelligence innovation Continue Reading

By

• Pat Brans, Pat Brans Associates/Grenoble Ecole de Management

UK government proposes new rules for digital supply chain security

Proposals could see IT service providers legally required to adhere to the NCSC’s Cyber Assessment Framework, among other things Continue Reading

By

• Alex Scroxton, Security Editor

CaixaBank system normal after migration of millions of customer accounts

Spain’s CaixaBank has successfully completed the migration of millions of Bankia customers to its systems Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Cost reduction is still the biggest driver of banks’ cloud adoption

More than 80% of banks now have a clear cloud strategy following a injection of urgency during the Covid-19 pandemic Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

CaixaBank to complete IT integration of Bankia in two days

Spanish bank embarks on a massive migration of customer accounts following merger Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Finance ombudsman overturns more than three-quarters of bank decisions on APP fraud

The financial services ombudsman is siding with customers in over 75% of complaints against banks that refuse to repay losses to authorised push payment fraud Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Bank of England loses 161 computing devices in three years

Bank cannot account for phones, laptops and tablets that have gone missing over the past three years Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Financial Conduct Authority chooses Aiimi for improved information discovery

The Financial Conduct Authority has awarded a three-year contract to UK enterprise search firm Aiimi to enable the regulator’s staff to find documents more easily and collaborate better Continue Reading

By

• Brian McKenna, Senior Analyst, Business Applications

Traditional banks could get revenue boost if they copy digital challengers

Traditional banks could see huge sales increases if they adopted the business models of their digital challengers Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Digital surveillance of remote workers may increase enterprise risk

From productivity tools to security threats, we explore how digital surveillance is forcing remote workers towards shadow IT Continue Reading

By

• Matthew Staff

How to manage endpoint security in a hybrid work environment

The future of the workplace is clearly hybrid, but this has untold implications around endpoint security. How can businesses overcome these? Continue Reading

By

• Nicholas Fearn

Standard Chartered picks Starling Bank tech for product launch

Standard Chartered able to quickly launch new product through fintech platform Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Blockchain technology will help banks will cut cross-border payment costs by $10bn in 2030

The use of blockchain technology in cross-border payments will save global banks $10bn in 2030, according to research Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Singapore ups ante in AI with sectoral programmes

Singapore launches two national AI programmes to bolster adoption of AI by financial institutions and the public sector Continue Reading

By

• Aaron Tan, TechTarget

CME Group signs 10-year cloud and product innovation deal with Google

CME Group, one of the world’s largest financial derivatives exchange operators, has signed a multi-year infrastructure migration deal with Google Cloud Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Technology spending reaches record levels, fuelling jobs boom

Spending on IT has reached its highest levels for a decade but a shortage of skilled IT professionals could dampen growth Continue Reading

By

• Bill Goodwin, Computer Weekly

Inside Krungsri Bank’s open API journey

Thailand’s Krungsri Bank has been harnessing open application programming interfaces to enable its partners to build new services in a strategy that has won over customers from rival banks Continue Reading

By

• Aaron Tan, TechTarget

Women grossly underrepresented in global fintech

Women are CEOs at less than 6% of global financial technology firms and even fewer hold top tech jobs Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Security Think Tank: SASE – marketing buzz or the future of security?

SASE architectures promise to prevent multiple types of cyber attacks, but deciding whether SASE is right for your organisation will require understanding whether SASE is a fit for your use cases in IT Continue Reading

By

• Martin Kuppinger, KuppingerCole

Quarter of people don’t plan to visit a bank branch again

A quarter of people have no intention of visiting a bank branch again after experiencing the benefits of digital banking when branches were closed during Covid-19 lockdowns Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

HSBC standardises on DevOps platform

HSBC to standardise and automate software development through CloudBees platform Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Payments through open banking could end card dominance

Payments made through open banking will eat into those made using cards as the next five years sees an acceleration in adoption Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

TechUK slams government gift to big banks that will disadvantage fintechs

The government will put challenger banks at a disadvantage through its reduction in the bank profit surcharge, says TechUK Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

TSB opens 100-seat tech centre in Scottish capital

TSB has opened its latest tech centre in Scotland while IT services provider CGI announces the creation of hundreds of UK tech jobs Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Retail tech community reacts to BNPL regulatory proposals

Regulation is coming to the buy now, pay later market, but what does it mean for a retail tech community increasingly embracing these solutions? Continue Reading

By

• Ben Sillitoe

Thought Machine: Google-inspired banking fintech to unicorn and beyond

UK fintech unicorn Thought Machine is transforming the IT of large traditional banks, while working with fledgling digital-only challengers Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

German regulator imposes limit on number of new customers digital bank can sign each month

BaFin limits the number of new customers that digital bank N26 can enrol until it is reassured on issues it has raised about the company Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Lloyds Bank closes more branches as customers migrate to digital channels

Banking group has announced more closures as part of the ongoing reduction of its branch network Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Forget the 'free' software, the real value of open-source is the collaboration

It’s a cliché, but why are we still reinventing wheels? It is increasingly clear that the real value and opportunity in open-source isn’t so much the actual software itself, but the collaborative ... Continue Reading

By

• Bryan Betts, Freeform Dynamics

Oracle NetSuite embeds HSBC corporate banking services into ERP

Oracle Netsuite integrates HSBC corporate banking services into its latest software Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

American Express announces global hybrid working model

US credit card giant is latest corporate to formalise hybrid working following the success of informal policies introduced during the Covid-19 pandemic Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Zopa becomes unicorn with latest funds to go to bank operation

Zopa will invest in its growing digital bank operation after becoming a unicorn in its latest fund-raising round Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Global IT outsourcing sees record spending and no sign of slowing

Cloud services are being taken up by enterprises rapidly as they accelerate digital transformations Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Darlington Building Society invests in platform for digital transformation

Building society is looking to satisfy existing customers and attract new ones by meeting their digital service-level expectations Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

FCSA clarifies anti-tax avoidance stance of offshore Charter change for umbrella firms

The Freelancer and Contractor Services Association (FCSA) has published a revised version of its membership Charter to reinforce its commitment to ensuring its members do not operate offshore tax avoidance schemes Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

SocGen to cull thousands of jobs and move to single IT platform in merger with subsidiary

French bank’s move to a single banking platform will enable it to cater for changing customer demands Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Morgan Stanley brings diverse fintech innovation to London

US bank expands its diversity-focused fintech accelerator programme to Europe with an initial £1m investment Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Nearly half of finance firms will acquire or partner fintechs in next year

UK financial services firms are preparing to acquire or partner fintechs as they target business growth Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

How AI – and puffins – are boosting renewable energy

In this week’s Computer Weekly, we find out how an artificial intelligence system for tracking puffins could help boost renewable energy use. We examine the often-overlooked, but often damaging, diversity issue of age discrimination in tech. And we look at the key considerations when choosing enterprise cloud file services. Read the issue now. Continue Reading

Sensitive documents to stay with whistleblower after deadline for agreement for their return passes

A deadllne to agree the safe return of the sensitive banking details of former and current NatWest Group customers has passed without agreement Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

NatWest admits to weaknesses in anti-money laundering systems

Bank pleads guilty to failures concerning the laundering of hundreds of millions of pounds, but says it has since improved its anti-money laundering systems Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

US lawmakers propose ransomware reporting rules

Former presidential candidate Elizabeth Warren lends her support to a bill that would require corporate ransomware victims to disclose more information about their attacks to the authorities Continue Reading

By

• Alex Scroxton, Security Editor

Tech Nation adds 30 fintech scaleups to growth programme as funding continues to rise

UK government-backed startup network adds 30 fintechs to its growth programme amid record investments in finance tech sector Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Microsoft’s financial services cloud available next month

Financial finance sector-focused cloud service will be available at the beginning of November Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Mastercard acquisition of Aiia is a further sign of open banking’s big future

Mastercard’s acquisition of Denmark-based open banking fintech Aiia follows rival’s takeover of Sweden’s Tink Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

IR35: Giant Group cyber attack prompts renewed calls for statutory regulation of umbrella companies

As details about the fallout from the cyber attack on the Giant Group umbrella company emerge, stakeholders say the incident should prompt the government to expedite regulating contractor payroll processing firms Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Digital bank fined by regulator due to weak anti-money laundering controls

German digital bank is fined by financial services regulator for failing in relation to its anti-money laundering practices Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Starling Bank takes its banking-as-a-service into European Union

API-based banking-as-a-service offering means customers can access services such as current accounts or debit cards without the need for heavy tech development or regulatory approval Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Dedicated number for victims of fraud launched amid national security threat

Consumers that suspect they are being targeted by fraudsters can call 159 to be directly linked to their bank, as part of a 12-month pilot Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA