IT for financial services

IT Priorities 2020: European IT budget share reflects home-working challenges brought by Covid

European organisations are being forced to redivert more limited budgets during the pandemic Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Ticketmaster fined £1.25m by ICO for failing to protect customer data

Ticket website’s customer data was exposed through an attack on a third-party chatbot Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UKtech50 2021: Help us find the most influential people in UK IT

Computer Weekly’s annual search for the 50 most influential people in UK IT is on – let us know who you would like to nominate for this year’s list Continue Reading

By

• Lis Evenstad

Financial Stability Board says it’s time to talk about IT outsourcing risks

International organisation that monitors the finance sector asks for the industry to discuss the risks that IT outsourcing brings to the sector Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

CW Benelux: Dutch Alzheimer’s app helps dementia patients

An app aimed at helping dementia patients and their families has been developed by the Alzheimer Society in the Netherlands. Also in this issue, read about a Belgian startup's app based on blockchain technology to help container handling at ports, and why Rabobank ditched its legacy backup. Continue Reading

TCS acquires Prudential Financial tech operation unit for free

Hot on the heels of its €1 acquisition of Deutsche Bank’s Postbank Systems IT unit, TCS has taken on 1,500 people from the insurance giant’s Ireland-based IT unit Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Tim Berners-Lee startup releases decentralisation tech to enterprises

Roll-out of Inrupt’s decentralised privacy technology to four large organisations is helping the startup to develop explicit use cases, which it hopes will prove the tech and lead to faster adoption Continue Reading

By

• Sebastian Klovig Skelton, Data & ethics editor

Norway has lowest physical cash use in the world, says report

Norway claims to use less cash as a proportion of total spending than any other country across the globe, according to a study by its central bank Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Lack of openness on Horizon errors remains as Fujitsu refuses to explain latest outage

Subpostmasters are being kept in the dark about errors in the branch computer system they use, despite the Post Office and Fujitsu being slammed in court over their lack of openness Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Deutsche Bank to sell retail banking IT unit to TCS for €1

Deutsche Bank has agreed to sell its retail banking IT operation to one of its main IT suppliers for a token €1 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Tampere’s perfect storm triggers a startup revolution

Previously a hub for Nokia and Microsoft, Finland’s second-largest city is capitalising on a wealth of technical knowhow to become the dark horse of the Nordic startup scene Continue Reading

By

• Matthew Staff

Consumer rights organisation warns of computer takeover scams

Consumers warned to be on guard against criminals pretending to be IT support staff to gain access to personal banking information Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

BBVA creates market information infrastructure on AWS cloud

Spanish bank BBVA is using Amazon Web Services to give its traders better access to market data following a project which also involved data provider Bloomberg Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Mastercard: Looks like a tech firm, acts like a tech firm, is a tech firm

Financial services giant finds itself in a prominent position as the volume of digital transactions increases Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Nordic countries to develop common digital system

Common digital platform will help small and medium-sized enterprises across the Nordic region with data sharing Continue Reading

By

• Gerard O'Dwyer

Contractors claim IR35 reforms pose ‘bigger threat’ to their livelihoods than Covid-19 or Brexit

Latest poll by contractor tax consultancy Qdos suggests freelancers are less concerned about the threat the coronavirus and Brexit pose to their businesses than the havoc the IR35 private sector reforms might cause Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Robot lawyer gets Sberbank role

Russia's largest state-owned bank creates a robot lawyer to reduce the time taken to process documents and make decisions based on them Continue Reading

By

• Vladimir Kozlov

The UK government’s ‘flawed and misleading’ Covid-19 data

In this week’s Computer Weekly, the coronavirus data relied upon by the UK government is ‘flawed and misleading’ say experts – we examine the implications. Ikea talks about how it turned to the cloud to deal with the impact of the pandemic. And we look at the digital transformation underway at credit card giant Capital One. Read the issue now. Continue Reading

Finnish government rolls out digital projects to support SMEs

Finland is set to create network of technology hubs that will support SMEs in the country, as well as create links across the EU Continue Reading

By

• Gerard O'Dwyer

ICO slams Experian over ‘invisible’ data processing

Data processing practices used by Experian broke data protection law, says Information Commissioner’s Office Continue Reading

By

• Alex Scroxton, Security Editor

Covid crisis proves tech can replace office space and support cost-cutting at Barclays

Bank says it will continue to look at its use of office space as it targets further cost-cutting measures Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Dutch government ‘unambitious’ in digital

The Netherlands has been working at home as much as possible since the outbreak of Covid-19, but its dependence on technology and connectivity does not seem to be reflected by the government’s approach to digitisation Continue Reading

By

• Kim Loohuis

Cooperation between Norway’s security agencies planned following cyber attack on parliament

Government seeks to develop enhanced national IT infrastructure with an embedded early warning system and defence shield to protect the IT systems of public and private organisations Continue Reading

By

• Gerard O'Dwyer

Deutsche Bank in talks over sale of IT unit to TCS

German bank is said to be in negotiations to sell its retail banking IT operation to Indian IT giant Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Nordic countries in denial over IT industry equality

Arriving in Denmark to find she was the only woman on a computer science master’s course was a shock to Plamena Cherneva Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

ANZ Bank moves digital banking services to container platform

Australia’s largest bank now runs 30% of its internet banking services on Red Hat OpenShift in a move that has energised developers and paved the way for more automation Continue Reading

By

• Aaron Tan, TechTarget

From compliance to open banking to embedded finance – all thanks to APIs

The road to embedded finance, banking and insurance with APIs is full of promise – and banks should take it for a journey to a better world of finance Continue Reading

By

• Mehdi Medjaoui

Financial services staff want work-from-home policies to continue after Covid

About half of workers in the finance sector want their employers to retain remote working policies brought in during the pandemic Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

London’s fintechs continue to attract investment

The capital’s fintechs continue to attract large volumes of venture capital funds despite the global economic slowdown Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Estonian rude awakening spurs tech startup activity

Money laundering scandal in Estonia has sparked tech startup activity in the Baltic country as banks look for answers Continue Reading

By

• Tarmo Virki

UK announces proposals to protect cash amid evolution of digital payments

Government wants to ensure access to physical currency by consumers at retailers of all sizes Continue Reading

By

• Angelica Mari

CIO interview: Generali’s Yanna Winter on the power of data integration

Yanna Winter, CIO and head of IT at insurance firm Generali, discusses how to slice up the legacy IT elephant in the room to enable data-driven applications Continue Reading

By

• Cliff Saran, Managing Editor

Fintech ‘unicorn’ Klarna probed over data misuse

Online bank blames misuse of user data on human error as Information Commissioner’s Office weighs in Continue Reading

By

• Alex Scroxton, Security Editor

Challenger bank accessing latest anti-money laundering technology through fintech

Challenger banks works with fintech to support its anti-money laundering efforts Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK economy could see blockchain boost worth £57bn by 2030

Blockchain could provide major economic benefits by being used to track and trace products and services Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Magecart strikes website of school payments service Wisepay

Magecart credit card skimmer harvested financial data of users of Wisepay’s platform over a two-day period Continue Reading

By

• Alex Scroxton, Security Editor

Consumers find new payment methods during pandemic

Non-cash payments have grown at their fastest rate for a decade and due to Covid-19 restrictions, more people are discovering different ways to pay Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK accounts for 45% of Europe’s card fraud as criminals target online transactions

Payment card fraudsters steal €1.5bn, with card-not-present attacks accounting for three-quarters of this sum Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

HMRC warns locked-down freshers of ‘wave’ of tax scams

New university intake may be being targeted by cyber criminals amid Covid-19 confusion Continue Reading

By

• Alex Scroxton, Security Editor

Regulator wants fintechs to address pandemic financial challenges

UK financial services regulator is supporting fintechs in addressing some of the challenges consumers and small businesses face amid the current pandemic Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

TSB mobile banking problems a reminder of risk of reliance on digital

TSB customers have had problems accessing the mobile banking app just days after the bank announced it was closing 164 branches Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

How AXA Investment Managers supports user experience through the ‘confinement’

The head of AXA IM’s proximity services discusses the importance of creating a digital experience during the lockdown in France Continue Reading

By

• Christophe Verducci

Children’s debit card provider Gohenry banks on Google Cloud to ease IT infrastructure growing pains

The CTO and COO of child-focused, parent-controlled debit card service provider Gohenry discusses how moving to the Google Cloud has helped its IT infrastructure avoid user-related growing pains Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Norway leaves door open to Huawei

Government gives telecoms companies responsibility to choose their equipment suppliers, which could include Huawei Continue Reading

By

• Gerard O'Dwyer

Over two million Brits using open banking

Data shows more than two million people in the UK are now taking control of their financial data through open banking Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

NatWest offers online banking customers free security services

Bank responds to a surge in cyber crime targeting users of online banking services Continue Reading

By

• Alex Scroxton, Security Editor

Can banks solve money laundering puzzle through technology?

Banks face a huge challenge in identifying and stopping money laundering without interfering with police investigations. Continue Reading

How supply chain management is changing after Covid-19

In this week’s Computer Weekly, we examine the profound changes in supply chain management as a result of the global pandemic. We find out how digital experience platforms can help deliver an omni-channel web presence. And we look at the role of technology in cracking down on international money laundering. Read the issue now. Continue Reading

Can banks solve money laundering puzzle through technology?

Banks face a huge challenge in identifying and stopping money laundering without interfering with police investigations Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Over half of firms intend to continue US data transfers despite Schrems II

Survey shows many organisations do not intend to significantly change their data-sharing practices, at least until there is more guidance from regulators or governments Continue Reading

By

• Sebastian Klovig Skelton, Data & ethics editor

Latest Tech Nation fintech cohort reflects diversifying sector

The latest group of fintechs accepted into Tech Nation’s growth programme reflects the diversification of a maturing sector Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Banks stall return-to-work plans as UK government changes advice

Banks pause plans to bring staff back to the office as the government backtracks on its policy Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Top 10 skills to include in your IT CV

Find out what skills and keywords you should include on your CV to stand out as an IT professional in a competitive market Continue Reading

By

• Mike Podesto

Royal Mint coin production freeze points to digital future for small payments

Royal Mint freezes production of certain coins as demand dries up amid changing consumer habits Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Swedish bank cuts branches and jobs, increases IT spend

Swedish bank is increasing investment IT to improve digital banking as it reduces its branch network Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Banks report surge in impersonation scams

Fraudsters are using the Covid-19 crisis to trick people into transferring money to them Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Deutsche Bӧrse tackles VMware application migration with Google Cloud

German financial exchange firm provides an update on its progress in its move to embrace a hybrid IT and multicloud future Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Fintech Pledge launched to strengthen UK’s financial technology sector

The Fintech Pledge initiative is designed to foster closer collaboration between banks and fintechs so that the UK can continue building a globally competitive fintech ecosystem Continue Reading

By

• Sebastian Klovig Skelton, Data & ethics editor

IT expertise in banking boardrooms reduces risk, finds Europe’s central bank

Banks with more IT knowledge in the boardroom are more realistic about risk, according to Europe’s banking regulator Continue Reading

CW Europe: IT expertise in banks’ boardrooms reduces risk, says European regulator

Banks have for many years been underpinned by vast IT operations, but in the age of digital banking the IT is now front, centre and back of operations. It is therefore surprising that there are relatively few IT professionals sitting on the boards of Europe’s big banks. Read the issue now. Continue Reading

Santander to double investment in fintechs

Santander is doubling the amount of money it invests in fintech startups after the success of its funding arm, which was established in 2014 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Branch-based anti-fraud scheme to be expanded to online banking

A successful branch-based anti-fraud scheme will be expanded by banks to include online and telephone banking Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Abu Dhabi government launches peer-to-peer coding campus

Abu Dhabi government launches a specialist programming school that uses peer-to-peer teaching methods and gamification Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Nordic banks invest and innovate to keep digital rivals at bay

Large traditional banks are accelerating their digital transformations as the regional fintech sector makes its presence felt Continue Reading

By

• Gerard O'Dwyer

Artificial intelligence keeps HSBC ATMs stocked with cash

HSBC is using artificial intelligence technology developed in-house to help it make sure ATMs are appropriately stocked with cash Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Dutch bank set to save €5m via Veeam backup upgrade

Rabobank ditched legacy backup where patching took months and restores took hours. Those times are now cut down massively and the bank has a readily available test environment Continue Reading

By

• Antony Adshead, Storage Editor

Covid-19 has strained London tech firms but they have central role in recovery

London tech startups are feeling the effects of the economic slowdown brought on by Covid-19, but there is a huge opportunity for those with the right focus Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Virtual London Tech Week is a sign of the future

London Tech week's virtual event is another sign of how the Covid-19 pandemic has accelerated digital transformation Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Phishing scam targets Lloyds Bank customers

Bank customers warned of emails and SMS messages that direct them to a fraudulent site and then request account log-in details Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Insurers accept they were slow to adopt digital

Insurance companies know they must prioritise digital investment and are planning in-house development to help make up lost ground Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK to build commercially available quantum computer

The UK government is backing a quantum computing project that will provide businesses with access to the technology Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UBS streamlines software product development with GitLab

The bank hopes to double the speed of software development, testing and deployment to support applications for clients Continue Reading

By

• Cliff Saran, Managing Editor

Norway’s corporates want government to support ‘herd immunity’ to cyber attack

Leading business organisations in Norway call on government to play a more active role in improving and coordinating the country’s cyber defences Continue Reading

By

• Gerard O'Dwyer

How Bank Mandiri is driving the use of big data analytics

Indonesia’s largest bank has built a big data platform to track transactions and monitor the health of its workforce, among other big data analytics initiatives Continue Reading

By

• Aaron Tan, TechTarget

How India’s Tata Capital is expanding its digital footprint

Tata Group’s financial services arm has been migrating branch walk-ins and voice calls to self-service digital channels staffed by chatbots as it expands its digital footprint Continue Reading

By

• Pratima Harigunani

New Zealand activates security services as DDoS outage enters fourth day

New Zealand government calls in its national cyber security agencies to help investigate a continuing cyber attack on the country’s financial systems Continue Reading

By

• Alex Scroxton, Security Editor

DDoS downs New Zealand stock exchange for third day

Distributed denial of service attack from overseas has left stock exchange offline for days Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Financial services business leaders and CIOs disagree on IT infrastructure

IT leaders and senior business executives need to align their technology infrastructure priorities as businesses attempt to emerge from the Covid-19 crisis Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

CTO interview: David Rafalovsky, Sberbank Group

Russia’s Sberbank is well into its digital transformation journey, with artificial intelligence and supercomputing now at the centre of its plans Continue Reading

By

• Vladimir Kozlov

Co-operative cuts branch network and jobs

Co-operative bank will rely more heavily on its digital channels as 18 more branches are shuttered Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

North Korea’s Lazarus targets cryptocurrency vertical

APT group behind the infamous WannaCry incident is targeting cryptocurrency operators, according to new research Continue Reading

By

• Alex Scroxton, Security Editor

DBS Bank teams up with AWS on AI skills

Singapore’s DBS Bank is organising an AWS DeepRacer League to equip thousands of employees with skills in artificial intelligence and machine learning Continue Reading

By

• Aaron Tan, TechTarget

Executive interview: Sri Shivananda, chief technology officer, PayPal

Computer Weekly talks to PayPal’s tech head about the payment provider’s SOA, security, open source and the lockdown Continue Reading

By

• Cliff Saran, Managing Editor

Gov.uk Verify continues to pose ‘notable risk’ to Cabinet Office

Government Digital Service put in place “unprecedented measures” in response to the Covid-19 coronavirus pandemic and built several new digital services, but its Gov.uk Verify programme continues to “pose notable risk” to the department, according to Cabinet Office annual report Continue Reading

By

• Lis Evenstad

Cyber attack combined with Covid-19 puts Travelex into administration

Foreign exchange firm Travelex has cut UK staff by 1,300 and physical outlets will remain closed Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Challenger bank sees huge growth during pandemic

Starling Bank has seen a big increase in its business amid the Covid-19 slowdown Continue Reading

Netherlands investigates innovative privacy technology SSI

Dutch research organisation is looking into areas where self-sovereign identity technology could be used in society and business Continue Reading

By

• Kim Loohuis

Egypt’s datacentre plans take key step forward

Government lays the foundations for a datacentre industry with its new data protection law Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Brits, terrified of impact of second Covid-19 wave on finances, turn to money management apps

People are using apps to help them manage their money amid fears of a second coronavirus lockdown in the UK Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Google links with eight US banks for current accounts

Tech giant works with banks to layer digital services on top of secure and regulated banking infrastructures Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Barclays CEO says Canary Wharf office set to stay despite home working success

Barclays chief says the success of home working during the Covid-19 pandemic has taught the banks lessons, one of which is that major centres like Canary Wharf will remain Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Finland government funds work on potential quantum leap

Finland's government is committing money to the development of quantum computing technologies to potentially provide a giant leap for the nation's industries Continue Reading

By

• Gerard O'Dwyer

Accenture selected for key role in Bank of England core settlement system replacement

Accenture will be technology delivery partner in project to replace the core system used to settle payments between banks Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Bank of Ireland fined for six-year-old IT breach

Bank of Ireland fined by regulator for its failings to prevent fraud six years ago Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Digital bank customer data breached through third party

FBI is investigating digital bank customer data breach that occurred via a former third-party supplier Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK government aims fintech industry at Africa

UK government is building fintech relationships with developing countries, beginning with a pilot programme in Africa Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Meet the CIO connecting IT in the most inhospitable environments

In this week’s Computer Weekly, we discuss the challenges of running global IT in the world of copper mining. We look at how tech suppliers are adapting their products to meet the lockdown demands of working from home. And we exam-ine how zero-trust methods can help secure container tech-nology. Read the issue now. Continue Reading

CIO interview: Hany Choueiri, chief data officer, Aldermore Bank

Digital transformation, cloud and data science are central to the specialist bank's response to the coronavirus pandemic Continue Reading

By

• Mark Samuels

UK fintech investment down by more than 30%

Less-established fintechs have been hit the hardest by the drop in investment capital, but there is light ahead for those that survive Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

IT expertise in banking boardrooms reduces risk, finds Europe’s central bank

Banks with more IT knowledge in the boardroom are more realistic about risk, according to Europe’s banking regulator Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA