IT for financial services

How far has open banking come in Europe?

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RSA spins out fraud and risk unit as Outseer

RSA Security is transitioning its fraud and risk intelligence work into a new business to be called Outseer Continue Reading

By

• Alex Scroxton, Security Editor

BBVA to cut 3,000 jobs in Spain as digital technology transforms industry

Spanish bank is the latest to announce swingeing branch and job cuts amid increased digital competition Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Klarna takes on UK credit card providers with feature that breaks up online payments

Fintech unicorn introduces feature to its app in the UK which will challenge traditional credit card providers Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Bank of England calls for feedback on digital currencies

The UK financial services regulator is calling for feedback from organisations, including tech firms, on the use of cryptocurrency Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

HSBC offers all businesses scam awareness app

HSBC is sharing information on the latest scams and how to defend against them thorough its latest app, available to all businesses Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Swedish university is behind quantum computing breakthrough

Chalmers University of Technology simplifies the process of measuring the temperatures of quantum computers during complex calculations Continue Reading

By

• Gerard O'Dwyer

Ex-IT manager stole over £800,000 from NHS trust

A former senior IT manager at an Essex NHS trust has pleaded guilty to defrauding his employer out of more than £800,000 Continue Reading

By

• Alex Scroxton, Security Editor

Great Eastern doubles down on data analytics

Singapore insurer Great Eastern has started a centre of excellence to drive adoption of data analytics and hone its capabilities in data governance and data engineering Continue Reading

By

• Aaron Tan, TechTarget

CW Nordics: Denmark takes a top-down approach to gender equality in tech entrepreneurship

Tech Nordic Advocates has adopted a new approach to closing the gender gap in Danish technology startups, looking to emulate Canada’s top-down approach. Also in this issue, find out the state of play with the adoption of open banking in Europe. Continue Reading

How far has open banking come in Europe?

 Continue Reading

Millions of pounds lost to crypto fraud on social media

More than £63m has been lost nationally by victims of investment fraud via a social media platform, says Action Fraud Continue Reading

By

• Alex Scroxton, Security Editor

Credit Suisse to recruit more than 1,000 tech staff in India

Credit Suisse is hiring more IT professionals in India to supports its plan to develop a global tech hub Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

India’s HCL to hire 1,000 tech professionals in the UK

Indian IT suppliers set to create thousands of IT jobs in the UK, which supports their intention to have more staff based closer to customers Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Barclays first bank to publish online scam refund details

All banks must be transparent about the proportion of victims of authorised push payment fraud they refund, says consumer rights organisation Which? Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Post Office Horizon inquiry set to be given statutory status with wider powers

The government inquiry into the Post Office Horizon scandal is set to be made statutory with the power to call witnesses under oath and compel provision of evidence Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Shift to digital remittances helps sector retain transaction value

Global remittance volumes and value was more resilient than expected over the past year, partly as a result of the take-up of fintech services Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Santander says sorry for weekend tech outage

Bank’s customers were unable to access multiple banking channels because of technical problems Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

The shape of fraud and cyber crime: 10 things we learned from 2020

While a pandemic-driven increase in cyber crime and an exacerbation of existing fraud trends were, to a large extent, to be expected, the LexisNexis Risk solutions UK cybercrime report 2020 still contained a few surprises Continue Reading

By

• Neira Jones

CW Benelux: Netherlands university launches centre of expertise in applied AI

Amsterdam University of Applied Sciences has launched a centre of expertise in applied artificial intelligence, and students from all faculties of the university will learn how to apply AI in their field of study. Also in this issue, read why a training ‘roadmap’ is needed to get Netherlands police officers up to speed with tackling cyber crime. Continue Reading

Government urged to add scam protections to Online Safety Bill

Group of organisations calls for the government to use the Online Safety Bill to protect people from cyber scams Continue Reading

By

• Alex Scroxton, Security Editor

Netherlands to build new national supercomputer

The Netherlands has laid out plans for its next national supercomputer, to be known as Snellius Continue Reading

By

• Kim Loohuis

HSBC blocks £249m in UK fraud with voice biometrics

HSBC voice recognition technology has reduced telephone banking fraud as demand for the channel increases Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

The non-fungible kind

Not long ago, somewhere in Mebane, North Carolina, Zoë Roth – better known as the Disaster Girl meme – picked up her phone and consulted Kyle Craven – better known as the Bad Luck Brian meme – ... Continue Reading

By

• Ryan Priest

Covid-19 security challenges leave bank customers at risk

Challenges arising from the pandemic have left gaping holes in banking security, putting consumers at risk of fraud Continue Reading

By

• Alex Scroxton, Security Editor

IR35 private sector reforms: What firms need to do now the start date has passed

While the start date for the onset of the IR35 private sector reforms may have passed, firms in-scope of the revamped tax avoidance legislation may find themselves still with plenty of compliance work still to do Continue Reading

By

• Matt Fryer, Brookson Legal

Justice at last in Post Office IT scandal

In this week’s Computer Weekly, 12 years after we broke the story, victims of the Post Office IT scandal finally have their criminal convictions overturned. We take a virtual tour of a Microsoft datacentre and meet a server called ‘Mega-Godzilla Beast’. And we find out how technology is transforming Nationwide Building Society. Read the issue now. Continue Reading

GCHQ: Cyber investment a guarantor of UK’s global status

GCHQ director Jeremy Fleming sets out a vision for the UK’s cyber security future Continue Reading

By

• Alex Scroxton, Security Editor

Banco Santander moving more than 200 servers to cloud per day

Banco Santander has migrated about 60% of its IT infrastructure to the cloud and is reaping the benefits Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK fintech investment hits new heights as government announces increased support

The UK fintech sector saw high levels of investment in the first quarter of this year, with increased support from the government Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Finnish government strengthens country’s IT network security

Finland’s government has created a new national organisation to help public and private bodies improve network security Continue Reading

By

• Gerard O'Dwyer

Microsoft is most impersonated brand in phishing attempts

Technology companies continue to be frequently spoofed by cyber criminals in their phishing attempts Continue Reading

By

• Alex Scroxton, Security Editor

CW Middle East: Qatari regulator launches platform to help combat money laundering

The Qatar Financial Markets Authority is using a digital platform to enable financial services professionals to assess their knowledge of anti-money laundering and combating the financing of terrorism. Also in this issue, read how the Covid-19 pandemic has changed the IT spending patterns among enterprises in Saudi Arabia. Continue Reading

Qatar regulator launches platform to monitor human understanding of financial crime

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Europe provides growth for TCS despite year floored by pandemic

Tata Consultancy Services grows its continental European business despite economic slowdown brought by Covid-19 restrictions Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Another 27 Danish banks get access to open banking APIs

Nordic banks gain access to open banking capabilities from Nordic API Gateway, with an agreement through their shared IT service provider Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

NCSC: Using your pet’s name as a password is very stupid

If your email password is still Rex, Rover or Mr Fluffles, it’s probably best to change it, the NCSC has said Continue Reading

By

• Alex Scroxton, Security Editor

Future working models at big banks begin to fall into place

Banks traditionally lead the way in technology adoption, but what can businesses take from their post-Covid-19 remote-working strategies? Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

CIO interview: Gary Delooze, CIO, Nationwide

Building society’s CIO talks about building a technology strategy, working with the rest of the business and the Covid-19 pandemic Continue Reading

By

• Mark Samuels

IBM Cloud for Financial Services goes on general release

IBM Cloud’s push to provide sector-specific public cloud services to financial services firms enters a new phase Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Inside Microsoft’s industry cloud strategy

Microsoft dives deeper into its industry cloud strategy and what it means for enterprises in the Asia-Pacific region Continue Reading

By

• Aaron Tan, TechTarget

A billion extra contactless payments in year since limit increase

Visa said there was an extra one billion contactless payments made by its customers last year Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Irish employees’ ‘right to disconnect’ enshrined in code of practice

A code of practice giving employees the ‘right to disconnect’ from work and not engage in electronic communications outside of their normal hours has come into effect in Ireland Continue Reading

By

• Sebastian Klovig Skelton, Data & ethics editor

Commerzbank picks Google for cloud migration

German bank expands its work with Google Cloud and plans to move 85% of applications to its platform Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

IR35 reforms: Slow government progress on umbrella regulation exposes IT contractors to tax risks

With thousands of IT contractors set to start working through unregulated umbrella companies for the first time when the IR35 reforms take hold in the private sector, concerns are growing about the danger this could pose to their income and tax affairs in years to come Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

How far has open banking come in Europe?

Open banking is a relatively new concept, having come into effect in Europe only in the last couple of years. So what is the state of play? Continue Reading

By

• Alex Cruickshank

TSB Smart Agent integrated into mobile banking app

TSB has integrated a smart agent, developed to relieve pressure on its contact centres during the Covid-19 pandemic, into its mobile app Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

CW Innovation Awards: How DBS is transforming credit processes

DBS Bank’s credit architecture programme has digitised and reimagined credit processes through a unified platform that has improved the productivity and efficiency of its credit teams Continue Reading

By

• Aaron Tan, TechTarget

Anti-money laundering technology must operate in a collaborative ecosystem

With new technologies making it easier for banks to spot money laundering activity, we look at why the problem persists at scale, finding that ecosystems and collaborative processes need to be built Continue Reading

By

• Sebastian Klovig Skelton, Data & ethics editor

Post Office staff instructed to shred documents that undermined its claims Horizon was robust

Barrister advising the Post Office in 2013 stated that destroying documents would "amount to a conspiracy to pervert the course of justice" Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Post Office IT scandal executive forced out of job at Football Association of Wales

Angela van den Bogerd has left her role at the Football Association of Wales, following criticism of her part in Post Office IT scandal Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Capita restructures to simplify its business

Business services supplier creates two core units that focus on public sector and commercial enterprise customers and will sell off non-core assets Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

One-fifth of all UK tech investment went to just 10 scaleup firms in 2020

Annual Tech Nation report shows UK technology firms saw record levels of investment in 2020, but a significant proportion of it was concentrated in a small number of scaleup enterprises Continue Reading

By

• Sebastian Klovig Skelton, Data & ethics editor

Insurers unable to fill a quarter of tech roles

Insurance companies need to fill tech skills gaps if they are going to prosper in the age of insurtech Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Banks still lack tech skills at the top

Banks have made progress in adding IT knowledge in their boardrooms, but they need more as digital transformation accelerates Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK's Starling Bank reaches unicorn status

UK app-based bank Starling reaches unicorn status following its latest round of funding Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

EBA restores services after Microsoft Exchange attack

European Banking Authority was breached through vulnerabilities in Microsoft Exchange Server, but is now back online Continue Reading

By

• Alex Scroxton, Security Editor

Goldman Sachs CEO comments highlight need for home working balance

The remote working revolution has been prominent in the banking sector and organisations have a balancing act to perform once the pandemic passes. Continue Reading

Wipro makes its biggest acquisition ever with $1.45bn takeover

Indian IT services supplier Wipro makes biggest acquisition in its history as it bolsters consultancy offering Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Nordic innovators change emphasis on gender equality in society

Female technology innovators in the Nordics take a different approach to trying to improve opportunities for women Continue Reading

By

• Matthew Staff

Bank of Ireland to reduce branch network by almost half

Bank of Ireland is latest bank to pin its future on digital channels as customers change their banking habits Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK contactless payment limit more than doubled

UK increases the amount that can be spent in one go using a contactless payments card to £100 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

CIO interview: Laura Dawson, CIO, London School of Economics

LSE’s CIO talks about focusing on team development, her vision of creating a connected network of technologists, and the impact of the Covid-19 pandemic Continue Reading

By

• Mark Samuels

Goldman Sachs CEO comments highlight need for home working balance

The remote working revolution has been prominent in the banking sector and organisations have a balancing act to perform once the pandemic passes Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

HSBC offers to help customers transitioning to digital banking as branch closures continue

HSBC is offering its customers training in how to bank digitally in a safe and effective way as it, like many banks, moves customers out of branches and towards using online services Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

It’s now or never for UK fintech, government told

The UK government faces a ‘now or never’ moment if it wants financial technology to play a central role in the economy for years to come Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UKtech50 2021: The most influential people in UK technology

Computer Weekly has announced the 11th annual UKtech50 – our definitive list of the movers and shakers in the UK tech sector Continue Reading

By

• Lis Evenstad

Tech-enabled hybrid working enables HSBC to cut 40% of its global office space

Bank is making huge reductions in the amount of office space it uses through a global hybrid-working policy Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

BBVA teams up with Google Cloud for IT security strategy revamp

Spanish bank banking giant BBVA is forging even closer ties with long-standing technology partner Google Cloud to bolster the security posture of its IT infrastructure Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

UK government set to offer fintech visa

The importance of immigrant workers to the UK's fintech sector highlighted by government planned fintech visa Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Pandemic has exposed fractures in cyber fraud strategy

RUSI report urges a bolder and more coordinated response to cyber-enabled fraud as the pandemic lays bear the scale of the problem Continue Reading

By

• Alex Scroxton, Security Editor

European Commission proposes UK data adequacy agreement

The publication of two draft data adequacy decisions brings the UK closer to a final positive decision, which will enable the continued free flow of data between the EU and the UK if green-lit by member states Continue Reading

By

• Sebastian Klovig Skelton, Data & ethics editor

Fingerprints will help payment cards retain relevance

Biometric payment cards using fingerprint technology could add billions to global banking revenues, says UBS Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Swedish central bank extends digital currency project

Sweden's central bank has extended its pilot of a digital currency for at least another year Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

TransferGo to harness Google-inspired tech capability

Payments fintech TransferGo chooses cloud-native core banking platform to build a digital wallet and expand its services Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Qatar regulator launches platform to monitor human understanding of financial crime

Qatari financial services regulator works with global body to provide digital platform to assess whether financial services workers understand how to prevent financial crime Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

IR35 private sector reforms: HMRC reminds firms to use ‘reasonable care’ when applying new tax rules

As the countdown to the IR35 reforms being rolled out to the private sector continues apace, HM Revenue and Customs issues compliance guidance for firms in-scope of the new rules Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Digital investments will add £232bn to UK economy by 2040

The UK economy could grow by £232bn over the next two decades if investments in digital technologies continue Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Post Office to offer digital ID services to customers

Post Office partnership with Yoti is intended to expand customer choice as to how people prove their identity when accessing services Continue Reading

By

• Alex Scroxton, Security Editor

Goldman Sachs reopens UK digital savings account

US banking giant resumes online account for UK savers after temporarily withdrawing it in response to high demand Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Nationwide Building Society kicks off search for tech apprentices

Nationwide is working with local organisations to boost tech skills Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

CW Benelux: Is reluctance to report cyber crimes in the Netherlands helping the criminals get away?

According to an academic study in the Netherlands, only one in seven Dutch people report a cyber crime to the police when it happens - feeling it is better to sort the problem out themselves because they don’t think the police will do anything. This is storing up trouble as cyber crime is an increasing problem in the country. Also in this issue, read why Dutch bank ABN Amro is selling its head office. Continue Reading

Société Générale adopts work-from-home policy

French bank formalises remote working policy after discussions with labour unions Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Century-old insurer uses low code as digital demands increase

Lloyds of London insurance and reinsurance broker Miller breaks from the past by adopting low-code software development platform Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Russia’s Sber launches international AI contest for children

Children from across the world invited to take part in artificial intelligence competition launched by Russian bank-turned-tech business Continue Reading

By

• Vladimir Kozlov

Revolut rewrites policy to include permanent remote working

Challenger finance firm Revolut is redesigning its office spaces and introducing permanent remote working policies Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Fraud and cyber crime still vastly under-reported

The scale of digitally enabled crime in the UK is dramatically under-reported, new statistics indicate Continue Reading

By

• Alex Scroxton, Security Editor

Has Covid-19 made bank branch closures easier to sell?

Big banks continue to close branches and invest more in technology as the Covid-19 pandemic makes a case for digital banking Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Google grows cloud sales as parent’s profits top $40bn

Alphabet announces massive overall profits and increased Google cloud sales Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Nordic countries dominate European online banking take-up

Nordics dominate online banking take-up in Europe, but the UK is not far behind Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Financial services giants form EU-focused coalition to boost sector’s public cloud adoption pace

A dozen or so European financial institutions have joined forces to stimulate the pace of public cloud adoption in the sector Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

IR35 private sector reforms: Zurich Insurance under fire over contractor blanket ban

Zurich Insurance is the latest high-profile financial services company to declare contractors can only continue to engage with it via umbrella setups from April 2021, ahead of the IR35 rules coming into force Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Commerzbank announces big job cuts and branch closures

German bank is closing hundreds of branches and cutting thousands of jobs as it reshapes for the digital age Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

JP Morgan Chase hires for UK digital bank launch

US banking giant hires in the UK in preparation for digital consumer bank launch Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Contactless payment limit could rise to £100 as FCA seeks industry views

UK financial services regulator is considering raising the contactless card payment limit to £100 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Yorkshire Building Society migrating application development to improve customer satisfaction

Yorkshire Building Society is moving to new application development platform to support the creation of customer-friendly online services Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Customers turn to cash as IT issue hits card payments at major supermarkets

IT problem at payment processing company has forced shoppers to resort to cash in Morrisons and Co-op stores Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Cyber fraud a national security issue, says Rusi report

A report from the Rusi think tank calls for fresh approaches to how we think about fighting fraud Continue Reading

By

• Alex Scroxton, Security Editor

Are banks overburdened with responsibility for money lost to online scams?

Bank boss calls for cross-industry cooperation to reduce scams that trick people into making instant payments online Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Nine out of 10 UK card payments in 2020 were contactless

Contactless cards payments accounted for around 90% of card payments in the UK in 2020 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA