IT for financial services

Interview: Jamil Farshchi, CISO, Equifax

Equifax CISO Jamil Farshchi discusses public cloud and why it’s not something IT security professionals should be afraid of Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Loan charge under review: Cross-party group of MPs slams government inquiry into tax policy

The government’s independent inquiry into the loan charge disguised remuneration policy has been criticised in a report by a cross-party group of MPs for being ‘fundamentally flawed’ Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Prudential turns to AI to secure computer networks against cyber attacks

Prudential, the UK’s largest listed insurer, is turning to artificial intelligence to protect its computer networks in the US, Asia and Africa from malware hackers and internal threats Continue Reading

By

• Bill Goodwin, Computer Weekly

Podcast: The Computer Weekly Downtime Upload – Episode 51

In this week’s episode of the Computer Weekly Downtime Upload podcast, Clare McDonald, Caroline Donnelly and Brian McKenna discuss the Budget, the role of graph database technology in anti-money laundering compliance, and the Everywoman Tech Awards Continue Reading

By

• Clare McDonald, Business Editor
• Caroline Donnelly, Senior Editor, UK
• Brian McKenna, Senior Analyst, Business Applications

IR35 private sector reforms: Coronavirus prompts Treasury to delay start date to April 2021

HM Treasury confirms roll-out of IR35 reforms to the private sector will be halted for a year to ease the pressure on businesses in the face of the coronavirus outbreak Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Travelex under threat as insolvency risk, hacking costs and coronavirus take their toll

Foreign exchange group’s future remains uncertain as its parent company, Finablr, prepares for potential insolvency Continue Reading

By

• Bill Goodwin, Computer Weekly

Budget 2020: Full of promises, but is it enough?

Chancellor Rishi Sunak’s Budget provided plenty of cash for technology and innovation, but has the government done enough to make the tech industry happy? Continue Reading

By

• Lis Evenstad

CIO interview: Miguel Rio Tinto, Emirates NBD

The Dubai-based banking group’s CIO, Miguel Rio Tinto, talks about its ambitious digital transformation plans Continue Reading

By

• Alicia Buller

CW Europe: Experts examine Dutch government’s IT problems

Technology experts discuss the challenges and potential solutions to the Netherlands government’s IT problems. Also read how Russia’s VTB and Rostelecom are creating a platform to utilise big data technology, and how Spain’s CaixaBank is using AI to help its staff training. Continue Reading

Dutch landscape attracts fintech exploration

In 2019, the Netherlands had more than 450 companies active in financial technology. The country’s “polder model”, in which new and traditional companies work closely together, offers many opportunities for fintechs Continue Reading

By

• Kim Loohuis

Fintech workers called to share their experiences of microaggression

Fintech workers were asked to share upsetting workplace incidents as part of an anonymous study Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

International Women’s Day provides platform for Nordic women in tech

International annual event reminds tech industry that work needs to be done to reduce inequality, but organisations must work towards this on a daily basis Continue Reading

By

• Matthew Staff

VAT software supplier exposed data of millions

Eight million sales records belonging to UK and EU consumers left exposed due to misconfigured server Continue Reading

By

• Alex Scroxton, Security Editor

Lloyds Banking Group signs five-year Google Cloud deal

The retail bank has a multi-cloud strategy as part of its multi-billion digital transformation initiative Continue Reading

By

• Cliff Saran, Managing Editor

Bill Gates backs Crest fintech security scheme for Africa and Asia

UK-based cyber security accreditation and certification non-profit Crest has been awarded a $1.4m grant from the Bill and Melinda Gates Foundation to expand cyber security capacity for fintechs in Africa and Asia Continue Reading

By

• Alex Scroxton, Security Editor

IR35 tribunal sees Nationwide project manager lose £70,000 tax bill appeal to HMRC

IR35 tribunal judge concludes working relationship between two parties is one of employment, with project manager Robert Lee described as ‘part and parcel’ of Nationwide’s organisation Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

EC publishes approach to human and ethical implications of AI, but what will UK do?

The European Commission has published a guide to the EU’s approach to the human and ethical effects that artificial intelligence might bring Continue Reading

By

• Louis Wihl, Bryan Cave Leighton Paisner

HMRC CEO denies it is ‘deliberately misleading’ public over loan scheme promoter arrests

HMRC CEO Jim Harra has “strongly rejected” claims made on social media by the Loan Charge All Party Parliamentary Group of cross-party MPs that it is “deliberately misleading” the public about its recent loan scheme-related enforcement activities Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Nordic lessons on digital transformation

Swedish financial services firm reports a successful IT outsourcing project with India-based IT services company Continue Reading

By

• Alex Cruickshank

Gove warns EU that UK sovereignty is non-negotiable on eve of trade deal talks

The UK and the EU have published their divergent mandates for trade talks due to start on Monday 2 March 2020, and digital may emerge as a long-term terrain of dispute Continue Reading

By

• Brian McKenna, Senior Analyst, Business Applications

IR35 private sector reforms: Treasury review concludes no delay needed to April 2020 start date

Contracting groups describe HM Treasury’s highly anticipated review into the implementation of the IR35 reforms as “recklessly inadequate” as it concludes roll-out should proceed as planned Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Thousands of UK entrepreneurs register businesses in Estonia since Brexit referendum

UK entrepreneurs are registering businesses in Estonia to make sure they can continue to trade freely in the EU Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Mastercard creates 1,500 tech jobs in Ireland

New roles at tech hub in Dublin will include professionals with expertise in artificial intelligence, cyber security, blockchain and user experience Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

IR35 private sector reforms: First year of enforcement won't be ‘heavy-handed’, claims chancellor

New chancellor Rishi Sunak has moved to assure business leaders that HMRC will not be heavy-handed in enforcing the new IR35 rules Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Refinitiv uses Google Cloud to revolutionise delivery of huge datasets

Financial data giant is expanding delivery of its services in the cloud, removing the need for customers to use hard disks and trucks to transport large datasets onsite Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Swedish consumer-protection legislation will hit fintechs

New financial regulation to protect consumers from agreeing to unnecessary credit will force financial technology companies to make changes to their products Continue Reading

By

• Gerard O'Dwyer

Mastercard opens European security resilience unit

Mastercard’s European Cyber Resilience Centre will bring together its partners and other industry bodies to support enterprise resilience Continue Reading

By

• Alex Scroxton, Security Editor

Brexit cited as reason for German digital bank’s UK exit

German challenger bank N26 leaves the UK, saying Brexit is the reason behind the decision due to the removal of passporting rights Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Chinese military personnel accused of Equifax hack

A US federal grand jury has indicted four Chinese army personnel over the 2017 Equifax breach Continue Reading

By

• Alex Scroxton, Security Editor

Two-thirds of workers at risk of robot-driven redundancy are unaware of the threat to jobs

People who do jobs that are most likely to be automated through technology are unaware and unprepared of the impending threat to their livelihoods, with Nesta calling on the government to do more to up-skill those at risk Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Australian government to roll out SAP S/4 Hana

Australia’s finance department earmarks S/4 Hana as its ERP system to provide common financial and HR services across government Continue Reading

By

• Aaron Tan, TechTarget

IR35 private sector reforms: HMRC confirms last-minute tweak to incoming off-payroll rules

The government is rolling out a tweak to the IR35 private sector reforms that it claims will give businesses more time to prepare, but stakeholders are unconvinced Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Goldman Sachs considers building cloud service to sell to other finance firms

Internal memo reveals that bank could provide an Amazon Web Services-like cloud service to financial services companies Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Scammers using fake PayPal emails stole over £1m in the UK in last quarter

Fraudsters tricked Brits into sending over £1m worth of goods to them that they hadn't paid for Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Azimo gets loan from European Investment Bank to build cross-border payments infrastructure in EU

UK fintech gets validation from EIB through €20m loan which will contribute to building its smartphone app-based payments infrastructure Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

New jobs in Ireland as Brexit forces Revolut to migrate work from London

Brexit has pushed the financial technology firm into moving London jobs to Ireland Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Estonian CIO gives UK IT professionals hope as Brexit removes rights

Tech chief says Estonia’s door is open to UK IT professionals if they want to continue enjoying an EU lifestyle Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK police arrest three over Maltese cyber bank robbery

The NCA has made three arrests in Belfast and London following an investigation into money laundering linked to a cyber heist on a bank in Malta Continue Reading

By

• Alex Scroxton, Security Editor

Fintechs fear deepfake fraud

New research reveals the majority of CISOs working in the financial services sector are increasingly concerned about the potential use of deepfakes Continue Reading

By

• Alex Scroxton, Security Editor

LV= rolls out smart speaker skill

General insurance firm says customers will receive answers to commonly asked questions by invoking the skill on Alexa or Google Home Assistant Continue Reading

By

• Cliff Saran, Managing Editor

IR35 private sector reforms: Bank of America IT contractors await verdict on future employment terms

Despite notifying staff of its intentions to phase out contractors from its workforce in December 2019, IT contractors at the Bank of America are still awaiting clarification about what their future at the firm will look like, Computer Weekly has learned Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Singapore updates model AI governance framework

Second edition of Singapore’s artificial intelligence governance framework includes new guidance, use cases and a self-assessment guide Continue Reading

By

• Aaron Tan, TechTarget

IR35 private sector reforms: Blanket bans ‘devalue’ IT contractor contributions to digital projects

James Poyser, CEO of contractor-focused online accountancy firm InniAccounts, claims large firms that are failing to assess contractors fairly will lose out in productivity, reputation and talent retention Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Lloyds Banking Group to create digital workplace with Microsoft

Bank is transforming how its staff work as part of a multibillion-pound digital transformation Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

TSB signs up IBM Services and announces Edinburgh tech hub

TSB has contracted IBM to provide hybrid cloud services as part of its £120m digital transformation plans, which will see more tech jobs in Scotland Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Travelex warns customers to be alert to phone scams

Under-fire forex provider warns that criminals may try to take advantage of its predicament to scam customers Continue Reading

By

• Alex Scroxton, Security Editor

Gates Foundation mobile money projects in developing world to go live this year

Mobile money projects aim to give millions of the world’s poorest people access to financial services Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Government distances itself from Post Office decisions in Horizon IT litigation

Department for Business, Energy & Industrial Strategy says it did not make decisions in the Post Office’s recent court battle Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Royal Bank of Canada gives Mencap a ‘leg-up’ in automating processes

UK charity gets help from Canadian bank in a collaboration aimed at creating a robotic workforce Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Travelex to begin restoring foreign exchange services two weeks after ‘Sodinokibi’ attack

Travelex says it is making “good progress” in its recovery and is to begin restoring electronic foreign exchange services, but is silent about whether it has agreed to pay hackers a $6m ransom to decrypt computer files Continue Reading

By

• Bill Goodwin, Computer Weekly

Learning from the Travelex cyber attack: Failing to prepare is preparing to fail

The key lesson to take from the Travelex breach is that an effective response to a breach is a critical business function and no longer the sole province of the IT department Continue Reading

By

• Brian Honan, BH Consulting

Travelex hackers threaten to sell credit card data on dark web

Sodinokibi cyber gangsters have threatened to sell Travelex customers’ private data on a Russian underground cyber crime forum if it fails to pay a $6m ransom Continue Reading

By

• Bill Goodwin, Computer Weekly

Don’t become the next Travelex: Get ready for ransomware

With Travelex’s IT still in disarray and banks and travellers left without access to funds more than a week after it was hit by a ransomware attack, we ask what others can learn from the foreign exchange services company’s response to the incident Continue Reading

By

• Alex Scroxton, Security Editor

PowerTrick backdoor used to target high-value businesses

Threat actors are exploiting a PowerShell-based backdoor called PowerTrick to go after high-value targets, warns SentinelLabs Continue Reading

By

• Alex Scroxton, Security Editor

Can fintech succeed where schools and parents have failed?

Young people in Britain are unprepared to manage their finances when they leave home and, as a result, many run into serious problems Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Why the banking industry needs an IT makeover

UK banks face huge challenges keeping their service availability levels at 99.99% Continue Reading

By

• Sascha Giese

Cyber gangsters demand payment from Travelex after ‘Sodinokibi’ attack

Cyber criminals are demanding payment to decrypt Travelex’s computer files after a devastating malware attack. New questions have been raised about the security of Travelex’s computer network after it emerged the company waited eight months to patch vulnerable VPN servers Continue Reading

By

• Bill Goodwin, Computer Weekly

Holy grail of digital banking is, at first glance, a new channel, not a new concept

Details of Google’s plans in the financial services sector have emerged with nothing groundbreaking so far, but the sector is guessing what comes next. Continue Reading

Suspected ransomware attack causes worldwide disruption for Travelex

Travelex switches off computer systems and resorts to cash-only currency sales after malware attack. Insiders claim the currency exchange chain has been hit by ransomware which has left critical files containing customer data encrypted Continue Reading

By

• Bill Goodwin, Computer Weekly

How to optimise remote workforces while tackling loneliness

Remote working is very common in tech companies and IT departments. How can it be managed to optimise productivity and keep employees socially connected to their companies? Continue Reading

By

• Cath Everett

Top 10 enterprise IT in the Benelux region stories of 2019

Here are Computer Weekly’s top enterprise IT stories from the Benelux region over the past year Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Top 10 financial services IT stories of 2019

Here are Computer Weekly’s top 10 financial services and fintech stories of 2019 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Top 10 enterprise IT in the Middle East stories of 2019

Here are Computer Weekly’s top 10 enterprise IT in the Middle East stories of 2019 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Top 10 enterprise IT in the Nordics stories of 2019

Here are Computer Weekly’s top 10 Nordic enterprise IT stories of 2019 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Top 10 storage deployment stories of 2019

Here are ComputerWeekly’s top 10 storage deployment stories for 2019, which see quite a move away from traditional SAN and NAS to hyper-converged, software-defined storage and object storage Continue Reading

By

• Antony Adshead, Storage Editor

Has Y2K windowing been addressed by banks or is Y2.02K a risk?

Big banks that haven't replaced legacy systems or fixed temporary windowing solutions to Y2K could have problems at the beginning of 2020 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

How Saudi Arabia plans to become the Silicon Valley of the Middle East

With its young and educated population, Saudi Arabia has the potential to become a hub for tech innovation Continue Reading

By

• Alicia Buller

CW Europe: Deutsche Bank creates innovation division

German banking giant Deutsche Bank is opening a division focused on innovation which will be led by former SAP executive Bernd Leukert. It will create agile teams with business and infrastructure divisions leading teams of technologists, using agile principles. Also read why China’s Huawei has offered governments an anti-industrial espionage commitment, and how software robots are helping social workers in Sweden. Continue Reading

Lloyd's of London secures £300m for digital transformation

Lloyd's of London has secured funding for a modernisation programme that will start next year Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

How can CIOs in Europe turn innovation into a competitive advantage?

CIOs across Europe are under pressure to innovate to help businesses grow and must think differently as a result Continue Reading

By

• Mark Samuels

Building enterprise-grade AI: Sberbank and AI Telekom

Machine learning and artificial intelligence are growing beyond adolescence to prove business value. Practical applications at Sberbank and AI Telekom suggest getting machine learning data in one place, where data scientists can experiment Continue Reading

By

• Lindsay Clark

Cloud computing surges in the UAE in 2019

Cloud computing take-up saw a significant acceleration in the Middle East throughout this year Continue Reading

By

• Alicia Buller

Barclays opens large tech operation in India, hiring thousands

Barclays opens tech centre in Pune as part of its global delivery network Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Dutch government must facilitate and coordinate a broad eID system

The Dutch government should push for an electronic ID system for its citizens that works across the public and private sectors, according to a report Continue Reading

By

• Kim Loohuis

Two Russians indicted over Dridex and Zeus malware

The US Department of Justice has indicted two Russian citizens over their alleged role in the distribution of the virulent Bugat, or Dridex, and Zeus banking trojans Continue Reading

By

• Alex Scroxton, Security Editor

UK financial services regulators tell banks to own their IT disasters

Financial services regulators propose tighter rules for firms to reduce the adverse effects of operational problems, such as IT outages Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Cyber Girls First volunteers encourage girls to think high-tech

More than 80 schoolgirls spent a day learning about computer hackers and rocket science – Cyber Girls First hopes they will become the next generation of technologists Continue Reading

By

• Bill Goodwin, Computer Weekly

Survey finds most firms don’t respond to GDPR requests in time

Most organisations do not respond to requests for GDPR data in the one month allowed, while many return incorrect data. The education sector does best, but the public sector lags behind Continue Reading

By

• Antony Adshead, Storage Editor

Insurtechs help traditional players differentiate

Traditional insurers are harnessing the agile development techniques of the tech startup community through partnerships with insurtechs Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Klarna uses AWS cloud as it moves from startup to global fintech force

Swedish fintech cements its relationship with Amazon Web Services to speed up product development and support its global expansion Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Private sector warned off delaying IR35 reform prep as Conservative Party promises review

The Conservative Party has followed in the footsteps of the Liberal Democrats, The Labour Party and the Scottish National Party by committing to a review of the IR35 reforms Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Goldman Sachs reins in cloud-based retail challenger in UK

Bank does not want rapidly expanding Marcus to breach deposits threshold at which UK banks have to ring-fence their retail operations Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

TSB neglected to assess capabilities of main IT provider in its failed system migration

TSB failed to properly assess and manage the internal service provider that lead its botched IT migration Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

NatWest digital bank goes live

NatWest has announced the availability of its standalone digital challenger bank, known as Bó Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Finnish tech firm aims to create scalable general-purpose quantum computer

University spin-off is attempting to take quantum computing capabilities to multiple business sectors Continue Reading

By

• Gerard O'Dwyer

Finland’s OP Financial Group accelerates open banking push

Finnish banking group is working with a Danish fintech to add open banking functionality to its offerings Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Tandem and TrueLayer partnership shows how fintech can support fintech

TrueLayer and Tandem partnership demostrates the power of collaborative ecosystems Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

The super-resilient IT function

IT functions don’t have to continue taking the blame for organisational failures, they can take the lead in transforming the business Continue Reading

By

• Ade McCormack, Auridian Consulting

Revamped HMRC IR35 status checker tool still lacks key functionality, contractor groups claim

HMRC releases an updated version of its IR35 tax status checker tool, CEST, to accommodate the onset of the tax avoidance reforms being rolled out to the private sector, but contracting stakeholders claim it still lacks basic functionality Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Nationwide building society opens up systems through mortgage API

Nationwide Building Society is trialling an application programming interface that will enable its mortgage brokers to link directly to some of its systems Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

TSB tech woes continue with overnight systems failure

TSB customers have experienced problems receiving money into their accounts due to an IT error, just days after the bank was slammed in a report on its IT problems last year Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Some 29,000 UK web domains suspended for criminal activity

Domain suspensions for criminal activity over the past year has dropped for the first time since 2014 Continue Reading

By

• Alex Scroxton, Security Editor

Labour pledges review of NCSC in UK security overhaul

The UK's National Cyber Security Centre may get expanded powers under a Labour government Continue Reading

By

• Alex Scroxton, Security Editor

Has Amazon dropped its plan for a bank account?

Has Amazon decided against launching a bank account? Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Life under the loan charge: An IT contractor’s story

Thousands of IT contractors are being pursued by HMRC for “life-changing” tax bills for work they did up to 20 years ago, as part of a disguised remuneration clampdown known as the loan charge policy. One of those affected anonymously shares his take on what it’s like to live with a six-figure tax demand hanging over you Continue Reading

By

• An anonymous IT contractor

HSBC builds API digital platform with MuleSoft to forward open banking

At Dreamforce 2019, HSBC announced the building of a digital platform with Salesforce MuleSoft to forward open banking opportunities Continue Reading

By

• Brian McKenna, Senior Analyst, Business Applications

Western Union transfers to AWS cloud

Western Union is the latest financial services form to set out a future in the Amazon Web Services cloud Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

CW Nordics: Automation pays off for Sweden’s social workers

Software robots are freeing up time for social workers in Sweden to help benefits claimants find employment and to receive the money they are entitled to. Also in this issue, read how Sweden’s SEB bank is using a Google-inspired, cloud-native core banking platform, and why India is leading the pack when it comes to IT outsourcing from the Nordic countries. Continue Reading

Sweden’s SEB explores core banking in the cloud

 Continue Reading

Mimecast blocked 99 billion suspicious emails in third quarter

Latest threat intelligence report reveals the scale of the threat posed by malicious emails, with the transport, legal and financial sectors hit hardest Continue Reading

By

• Alex Scroxton, Security Editor