IT for financial services

Academics link payment card vulnerability to Tesco Bank cyber heist

UK academics uncover a vulnerability in online payment systems, which they say could have been used in the Tesco Bank cyber heist Continue Reading

By

• Warwick Ashford, Senior analyst

Mastercard uses artificial intelligence for transaction approval

Mastercard is using artificial intelligence to reduce the number of transactions that are wrongly declined, while maintaining security Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Axa offers on-demand insurance via mobile app

Insurance company launches app that offers quick and easy insurance cover for individual items owned by customers Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Middle East bank to launch AI for customer support

Middle East bank Emirates NBD is piloting artificial intelligence to automate customer services Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Dutch bank ING to spend millions ‘disrupting’ its own business

Dutch bank ING used digital technology to reinvent itself following the financial crash, and is about to reinvent itself again, says its global CTO, Brendan Donovan Continue Reading

By

• Bill Goodwin, Computer Weekly

Lending platform pioneer Zopa aims to become a UK bank

Zopa, the company that pioneered the peer-to-peer lending sector with its tech platform, looks to add more disruption to the retail banking market Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK almost bottom of OECD pile for ICT investment

The UK ranks low in terms of how much it invests in the ICT infrastructure as a proportion of GDP Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Russian banks hit by IoT-enabled DDoS attacks

DDoS attacks on Russian banks have been linked to IoT botnets, further confirming this worrying trend and highlighting the need for IoT suppliers to improve security capabilties Continue Reading

By

• Warwick Ashford, Senior analyst

24 cyber criminals arrested in Europol operation

Romanian police arrest 24 members of a card skimming and cloning operation and identify 47 other suspects Continue Reading

By

• Warwick Ashford, Senior analyst

HSBC combines AWS with agile thinking to tap into growing demand for mobile banking

Banking giant opens up about how cloud and DevOps adoption is helping it cope with the growing consumer demand for mobile and online banking services Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

The march of the robot workers

In this week’s Computer Weekly, we look at how artificial intelligence is being used to automate existing jobs, including roles as varied as IT administrators and customer service agents. Capital One’s European CIO talks about how to create an agile business. And we offer tips on how to deal with an Oracle software audit. Read the issue now. Continue Reading

Australia and New Zealand IT pros on bigger salaries than UK equivalents

Aussie IT pros are better rewarded than their counterparts in the UK, according to surveys Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Insurers face same legacy system battle as retail banks

The biggest barrier to insurance companies adopting digital technology is their heavy reliance on legacy IT systems Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Black cab customers can now pay by card as well as cash

London Mayor’s Taxi and Private Hire Action Plan sees card technology introduced to all black cabs in the capital Continue Reading

By

• Clare McDonald, Business Editor

The cyber threats lurking within every company

Insider threats have been around for a long time, but it is only recently that people have begun to acknowledge the true danger they pose Continue Reading

By

• Peter Ray Allison

SDN trailblazer Big Switch Networks launches in UK

Having established a base of paying customers through a key partnership with Dell, SDN supplier Big Switch Networks is opening its first European offices and gunning for Cisco’s ACI business Continue Reading

By

• Alex Scroxton, Security Editor

25 years of Linux

In this week’s Computer Weekly, 25 years after Linus Torvalds released the Linux kernel, we look at how the open-source operating system has influenced modern-day IT. Our new buyer’s guide covers the fast growing technology of object storage. And we examine the rise of corporate wireless networking. Read the issue now. Continue Reading

Insurers are joining fintech party

Insurers are held back from digital transformation by legacy systems, but insurance-focused IT startups offer them hope Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UAE telco launches mobile wallet

Etisalat signs deal with technology company to offer its customers a mobile wallet service, as fintech expands in the Middle East Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Lessons to be learned from attempted $1bn bank heist

Analysis of an attack aimed at stealing $1bn reveals important lessons for cyber defenders, says BAE Systems head of threat intelligence Adrian Nish Continue Reading

By

• Warwick Ashford, Senior analyst

Abu Dhabi Securities Exchange uses blockchain for e-voting

Abu Dhabi Securities Exchange offers controlled access to the AGM information of listed companies through a blockchain-based service Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Nordea bank joins rival’s mobile payment platform

Nordea signs up to the mobile payments platform from Danske bank for its customers in Denmark and Norway Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Lloyds Bank to use virtual reality to test applicants for graduate programme

Bank will use virtual reality to test potential recruits in situations that are otherwise difficult to recreate Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

More virtualisation to come in mature Australian market

Australia has been hailed as a rapidly growing market for mobile virtualisation Continue Reading

By

• Beverley Head

Swedish bank uses Amelia the robot for customer services

SEB is using AI software from IPsoft for customer service after a successful internal project Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Demand rises for low-cost flash storage across Australia

Flash storage gains popularity in Australia, as smaller organisations are attracted by lower prices and higher capacity Continue Reading

By

• Beverley Head

Mastercard woos software developers with API platform

Credit card company Mastercard is investing heavily in digital payments and wants to engage with developers and startups Continue Reading

By

• Bryan Glick, Editor in chief

Emirates Islamic bank and the Muslim finance revolution

The CIO at Dubai-based bank Emirates Islamic tells Computer Weekly how IT is supporting the company through industry change Continue Reading

By

• Alicia Buller

Consumers trust banks more than government for biometric security

UK citizens think banks are the best organisations to provide biometric authentication for payments Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Banks and fintech firms respect each other, says HSBC boss

The relationship between banks and fintech companies has sweetened over the past five years with mutual respect evident, says HSBC boss Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

DNB and Nordea to merge IT operations for Baltic super bank

Two of the Nordic region’s banks will use joint operations, including IT, to help them grow in the Baltic area Continue Reading

By

• Eeva Haaramo

Insurance brokers count cost of lost business as SSP SaaS platform outage enters second week

SSP confirms to Computer Weekly it has no clear idea when all brokers will be able to continue doing business via its SaaS platform, two weeks on from Solihull datacentre power outage Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Bank IT spending to hit $241bn across four major global regions

IT spending across four major economic regions will increase by around 4% in 2016, but Europe is the least certain Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

A new nearshoring game is emerging

Countries selling themselves as nearshore business services locations need to change their sales pitches to avoid becoming like all the other countries doing the same Continue Reading

By

• Ilan Oshri

Barclays uses blockchain for trade finance transactions

Barclays Bank has successfully tested the use of blockchain technology to complete a large trade finance agreement, which promises huge efficiencies Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Mobile device use feeds card fraud in Asean region

Card fraud is rising in Asean countries, with the high use of mobile devices a contributing factor. Continue Reading

By

• Ai Lei Tao

Banks should avoid customer service robots for a few more years

Banking sector should not use software robots to automate customer services such as chat because consumers expect better service levels when it come to their finances Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Westpac bank launches Databank data protection service

Australia's Westpac bank is offering organisations that share customer data a service that it says securely locks down personal information Continue Reading

By

• Stuart Kennedy

UK second only to US in DDoS attacks

Distributed denial of service attacks on UK organisations have eased from a peak in the fourth quarter of 2015, but the UK remains the world’s second most targeted country Continue Reading

By

• Warwick Ashford, Senior analyst

Expect ransomware arrests soon, says bitcoin tracking firm Chainalysis

Law enforcement organisations are set to ramp up arrests of cyber criminals behind ransomware attacks, according to financial technology startup Chainalysis Continue Reading

By

• Warwick Ashford, Senior analyst

Police arrest woman in connection with Sage data breach

A woman has been arrested on suspicion of fraud in connection with a data breach at accounting software firm Sage Continue Reading

By

• Warwick Ashford, Senior analyst

Financial sector faces era of cyber mega heists

Banks and other financial institutions are threatened by a new breed of elite cyber criminals running professional operations that will use any means to achieve their goals, says Barclays security chief Continue Reading

By

• Warwick Ashford, Senior analyst

PwC Australia uses gamification to teach cyber security lessons

With the number of cyber incidents identified by Australian organisations more than doubling in the past year, PwC is using an online game to give enterprises first-hand experience of what it means to face a cyber attack Continue Reading

By

• Beverley Head

RBS abandons IT project for hiving off 300+ bank branches

RBS has abandoned a project to create an IT platform to support the sell-off of more than 300 bank branches Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Banner Health cyber breach underlines need for faster intrusion detection

A data breach at Banner Health has highlighted the importance of intrusion detection and prompted calls for greater cyber security investment in the increasingly targeted healthcare industry Continue Reading

By

• Warwick Ashford, Senior analyst

Singapore’s DBS Bank signs up to Amazon cloud

The latest move in the cloud journey of DBS bank in Singapore is an agreement with Amazon Web Services Continue Reading

By

• Ai Lei Tao

One in five businesses hit by ransomware are forced to close, study shows

More than half of UK companies have been hit by ransomware in the past year, a study on the impacts of this popular attack method has revealed Continue Reading

By

• Warwick Ashford, Senior analyst

Barclays to use voice recognition for phone banking

Retail bank says technology will provide secure verification by recognising the unique characteristics of each person’s voice Continue Reading

By

• Clare McDonald, Business Editor

German digital bank Fidor acquired by French banking giant

Fidor CEO says merger with BPCE will allow challenger to continue its international expansion Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Tel Aviv Stock Exchange centralises functions with ERP

The Tel Aviv Stock Exchange has installed first ever ERP system. CIO Eldad Hershtig explains his strategic choices and implementation path Continue Reading

By

• Brian McKenna, Senior Analyst, Business Applications

Security industry welcomes cyber crime’s inclusion in official stats

The security industry welcomes the inclusion of cyber crime statistic in official crime reports to highlight the size and nature of the threat Continue Reading

By

• Warwick Ashford, Senior analyst

CW Middle East: July-September 2016

In this issue of CW Middle East, we look at how CIOs in the region are formulating their virtualisation strategies as organisations warm to the benefits of cloud computing. Today, virtualisation in the Middle East has gone beyond a shoddy virtual private network (VPN) installed on a desktop, to more sophisticated cloud-based technologies that are enabling a more mobile, more agile workforce. Read the issue now. Continue Reading

Building big ideas in banking

In this issue, we visit JP Morgan’s European software development centre in Glasgow to see how the investment bank is working with local universities and collaborating in the open source community. Software chief Stephen Flaherty talks about how JP Morgan uses open source software and has now begun contributing to open source projects. The bank uses NoSQL and OpenStack technologies and is pushing the limits of Hadoop to power risk applications, enabling it to achieve near real-time risk analysis of a trade. Read the issue now. Continue Reading

IBM sets up security centre in Canberra

IBM leads the charge as large private businesses invest heavily in security resources across Australia in an attempt to close the security gap Continue Reading

By

• Beverley Head

Was that it? Business as usual for fintechs after Brexit vote

Following the Brexit vote, Fintech Times editor Bird Lovegod describes how financial services IT startups are getting on with business as usual Continue Reading

By

• Bird Lovegod

IBM’s Watson gets to work

In this issue we explore the many ways IBM’s Watson has evolved from the machine that bettered humans in US game show Jeopardy! to providing deep analytical insights to solve real-world crises. We also look at how Barclays bank is using DevOps to remain competitive and reveal new research that illustrates why cloud computing is at the heart of business innovation. Read the issue now. Continue Reading

Standard Chartered takes global delivery network to next level

Bank to invest $3bn in global delivery network, with particular focus on scaling up Malaysian centre Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Visa’s Dubai innovation centre to focus on digital payments

Visa has opened a technology innovation centre in Dubai to focus on cashless payments Continue Reading

By

• Edward Banda

DWP trials blockchain technology for benefit payments

The Department for Work and Pensions (DWP) trials blockchain's distributed ledger technology, with benefit claimants using a mobile app to track welfare payments Continue Reading

By

• Lis Evenstad

CW@50: A history of IT outsourcing

Computer Weekly looks at where and when IT outsourcing was invented and considers the changes the sector has gone through since Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Overcoming the scale-up challenge of enterprise DevOps adoption

CIOs and IT leaders share their advice on what enterprises can do to accelerate the spread of DevOps within their organisations Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Thailand’s TMB Bank modernises IT through the cloud

Bank used a move to Office 365 as a starting point for its transformation into a cloud-first organisation Continue Reading

By

• Ai Lei Tao

Barclays banks on agile and DevOps to tackle competitive threats in fintech

Barclays Bank opens up about how increasing competition in the financial services sector has fuelled its 18-month, company-wide campaign to increase its use of agile and DevOps methodologies Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

LizardStresser IoT botnet launches 400Gbps DDoS attack

Attack groups using the LizardStresser botnet are exploiting IoT devices to mount massive DDoS attacks without using amplification techniques, say researchers Continue Reading

By

• Warwick Ashford, Senior analyst

Finland’s prisons move to a cashless world

Inmates in Finland’s prisons will no longer need to use cash as a pre-paid card system is rolled out Continue Reading

By

• Eeva Haaramo

Banking IT community faces uncertain Brexit future

The financial services IT community faces a period of uncertainty as finance firms reassess plans following the EU referendum result Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Lower average cost of Australian data breaches is not a sign of comfort

The average cost of a data breach to Australian organisations dropped in 2015, according to research Continue Reading

By

• Beverley Head

Hays Recruitment service desk project is all gain and no pain

The firm was attracted by the many benefits of a cloud-based service desk, but chief among them was the low risk involved in implementation Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Tesco Bank partners with MasterCard to develop digital payments

Tesco’s retail bank has partnered with payment provider MasterCard to give customers more innovative digital payment methods Continue Reading

By

• Clare McDonald, Business Editor

Singapore banks adopt voice biometrics for user authentication

Banks in Singapore are rolling out biometric technology to improve customer services by speeding up the authentication process Continue Reading

By

• Ai Lei Tao

Citrix expands in Middle East with first Saudi Arabia office

Citrix is increasing its presence in the Middle East, opening its first office in Saudi Arabia with plans to expand into Qatar and Egypt Continue Reading

By

• Triska Hamid

Unlicensed software rife among Asean computer users, says BSA

The Asean region has the highest levels of unlicensed software use, according to the 2016 Global Software Survey from the Business Software Alliance (BSA) Continue Reading

By

• Ai Lei Tao

Middle East CIO interview: V. Chandrasekar, Standard Chartered

The CIO of Standard Chartered bank in the Middle East tells Computer Weekly about the challenge of keeping customers happy through IT Continue Reading

By

• Alicia Buller

UK government details plans for National Cyber Security Centre

The objectives of the UK’s National Cyber Security Centre are to address systemic vulnerabilities, reduce risks, respond to serious incidents and nurture national cyber security capability Continue Reading

By

• Warwick Ashford, Senior analyst

A new wave of cyber attacks targets the Middle East’s banks

Hot on the heels of the Qatar National Bank breach comes a campaign employing advanced social engineering techniques Continue Reading

By

• Tom Paye

Philippines expands tax payments with mobile system

The Philippines tax office is enabling people to access more services via their mobile phones Continue Reading

By

• Ai Lei Tao

ING Turkey uses digital technology to improve services and grow customer base

Turkish bank uses business process management technology to offer financial services through 1,500 grocery stores, technology outlets and post offices Continue Reading

By

• Bill Goodwin, Computer Weekly

HSBC cuts hundreds of UK IT jobs

HSBC is cutting its UK IT workforce and transferring jobs to lower-cost countries as part of its global delivery strategy Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Time to shift information security focus away from prevention, says Swiss bank CISO

Organisations need a new approach which recognises security is “breakable”, according to Michael Meli Continue Reading

By

• Warwick Ashford, Senior analyst

Swift reports another Bangladesh central bank-style cyber attack

Global financial messaging organisation Swift warns of a highly adaptive cyber criminal campaign targeting banks with user credentials to submit transfer requests Continue Reading

By

• Warwick Ashford, Senior analyst

IAM central to Deutsche Bank’s digital transformation

Deutsche Bank is using a centralised identity and access management (IAM) system and an application program interface (API) architecture for digital transformation Continue Reading

By

• Warwick Ashford, Senior analyst

CW Nordics: May 2016

The Nordics is seen as a pioneer of the latest IT. The populations of the region are keen to try out new IT services and it has a large population of IT startups creating them. In banking, for example, the region is pushing the tech boundaries. One of the most overt changes digital technology has brought to people’s lives is how they do their day-to-day banking. Most developed economies are seeing the same trends: bank branches closing; people using cashless payments; and mobile phones becoming the most popular banking tools. But the Nordics could be a pioneer. In this quarter’s issue of CW Nordics, we feature a debate about whether Sweden, the region’s biggest economy, could become the first country in the world to go cashless. Continue Reading

Singapore smart city chief delivers vision to the world

The Singapore government minister running the city state's smart nation project tells the world about the country’s smart nation vision Continue Reading

By

• Zafar Anjum

Swedbank boosts customer service with a virtual assistant

Nuance Nina will offer basic frontline support for online customers Continue Reading

By

• Eeva Haaramo

CW ANZ: May 2016

The Australian payments system is being transformed with mobile banking and programmable tap-to-pay terminals now ubiquitous and a major shake-up of the national payments system underway. It’s clear the country’s biggest banks aren’t afraid of innovation, with investments being made in the financial services digital development trend, known as fintech. But why are Australian banks afraid of Apple Pay, which has been mostly ignored by banks? Continue Reading

Ransomware emerges as a top cyber threat to business

Security researchers at Kasperky Lab and FireEye confirm that the upward trend of ransomware is continuing and has emerged as a top threat to business Continue Reading

By

• Warwick Ashford, Senior analyst

Gulf Air creates private cloud to support open-source big data engine

Airline is using a private cloud and open-source software to enable it to analyse social media and understand what consumers think about it Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Real-time data helps manage traffic in Philippines

OpenTraffic smart data platform provides free GPS information for better analysis of travel speeds and journey times in Metro Manila and Cebu City Continue Reading

By

• Ai Lei Tao

Shell the latest multinational to insource IT offshore

Oil giant Shell is the latest large business to announce plans to insource its IT operations at a delivery centre in Bangalore, India Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Tech-savvy Asean populations shake up enterprise IT, says AIA CTO

A young, urban and tech-savvy population in the Asean region has forced enterprises to rethink their IT strategies Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Cyber security in Belgium will gain prominence after terror attacks

Belgium’s physical security has been branded inadequate, so how does the country’s cyber security measure up? Continue Reading

By

• Stef Gyssels

Saudi Arabia could warm to cloud computing, so long as regulation and connectivity keep pace

One of the world’s biggest oil producers has responded to tumbling crude prices by announcing a $2tn war chest to fund an economic diversification strategy, with IT set to be a beneficiary Continue Reading

By

• Alicia Buller

Young people unaware of IT roles in financial services

Careers firm Investment 2020 claims young people have little awareness of the IT roles available in the financial services sector, or what routes to take to get there Continue Reading

By

• Clare McDonald, Business Editor

Disrupting IT in the Nordics, from banks to taxis

IT is dramatically changing traditional industry sectors in the Nordic region. Computer Weekly examines the transformation Continue Reading

By

• Eeva Haaramo

Mobilising a workforce drives up performance and productivity

Mobile workers are also more creative, satisfied and loyal, says EIU study Continue Reading

By

• Alex Scroxton, Security Editor

Singapore is second most cloud ready country in Asia-Pacific

Broadband quality, data privacy and pro-business regime makes Singapore the second most cloud ready country in the Apac region Continue Reading

By

• Ai Lei Tao

Lloyds Bank offshores more IT roles to India

Lloyds Banking Group is offshoring more IT jobs to India as part of its latest cost-cutting announcement Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

EE to onshore all customer service calls

Mobile operator EE attempts to improve customer services by bringing call handling onshore Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Indonesian internet users turn to smartphones to go online

Organisations with a cyber footprint in Indonesia must understand most internet users in the country access online content and services on smartphones Continue Reading

By

• Ai Lei Tao

France takes the lead in the global open data race

The appointment of a chief data officer (CDO) has already seen the nation create five different types of economic and social value Continue Reading

By

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