IT for financial services

IT is more important than marketing for banks

IT spending will grow at the expense of other areas such as marketing as optimism in financial services increases Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

DDoS losses potentially £100k an hour, survey shows

DDoS attacks could expose 40% of businesses to losses of £100,000 or more an hour at peak times, a survey shows Continue Reading

By

• Warwick Ashford, Senior analyst

UK attacks on crypto keys and digital certificates endemic

All UK security professionals polled in a global survey have responded to attacks on keys and certificates in past two years Continue Reading

By

• Warwick Ashford, Senior analyst

Santander launches ISA mobile app

Spanish banking giant Santander launches a mobile app to help consumers navigate the ISA market Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Identity fraud still top UK fraud threat

Identity fraud continues to be the single biggest fraud threat, according to the latest report by UK fraud prevention service Cifas Continue Reading

By

• Warwick Ashford, Senior analyst

Monitise no longer up for sale

Mobile banking software company Monitise to continue as an independent company rather than seek to be taken over Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Dutch bank ING puts HR services in the cloud

Finance company ING is using cloud-based software from ServiceNow to deliver HR services to its 25,000 staff in the Netherlands Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Women have a big part to play in the future of the fintech industry

International Women’s Day sparks debate around the lack of females holding board-level positions in the fintech sector and elsewhere Continue Reading

By

• Clare McDonald, Business Editor

Sabadell to migrate TSB IT to proprietary banking platform with £450m sweetener

Spanish bank Sabadell will move TSB IT systems to its own in-house core banking platform Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Current account comparison from Gocompare announced in Budget 2015

The government used the Budget to announce changes in the banking sector that will increase consumer and business choice Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Lookout bets on big data analytics to secure enterprise mobiles

Mobile security SaaS provider Lookout is betting on its cloud-based big data analytics capability to attract enterprise customers Continue Reading

By

• Warwick Ashford, Senior analyst

IBM could create blockchain-based digital payments infrastructure for central banks

IBM has held informal talks with some central banks about building an infrastructure that can provide them with bitcoin-like digital payments systems Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

HSBC names replacement CIO for investment bank

HSBC has named the replacement for the departing CIO of its global banking and markets division, with an internal promotion filling the gap Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

HSBC seeks new investment banking CIO as Sumeet Chabria leaves

HSBC is looking for a new IT head in its investment banking arm after Sumeet Chabria decided to leave after 21 years at the bank Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Latest new UK bank launches virtually

Challenger financial services firm Charter Savings Bank has been launched, taking advantage of the lower cost of a virtual presence Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Google to launch Android Pay

Google is expected to launch a payments application programming interface at its I/O conference in May Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Bank of England considers issuing digital currency

The Bank of England could issue its own digital currency in the future, in the same way that it does with bank notes Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

IBM and Oracle named as potential Monitise buyers

IBM and Oracle have emerged as potential candidates to take over British mobile software company Monitise Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

MasterCard to pilot facial, voice and fingerprint authentication

MasterCard will pilot a biometric authentication and verification tool this year as part of cyber security technology investment Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

$1bn cyber heist underlines need for detection, say security experts

The theft of up to $1bn from financial institutions in a daring cyber crime operation underlines the need for monitoring, say security experts Continue Reading

By

• Warwick Ashford, Senior analyst

Lloyds Bank launches smartwatch service

Lloyds Bank will send offers to its mobile banking customers direct to their smartwatches Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Lloyds Bank accepts ID documents uploaded on social media

Lloyds Bank group customers can upload identification documents on technology used in social media, reducing the need to visit a branch Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Why peer-to-peer lending is such a threat to banks

Consumer trust for finance firms has never been high, and since the financial turmoil at the end of the previous decade it has reached rock bottom Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Former Lloyds bank and Barclays CIO Darryl West joins HSBC

HSBC has appointed Darryl West, who left Barclays in December, as CIO Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Sweeping trend towards digital banking forces RBS branch closures

Royal Bank of Scotland "taken aback" by ever-increasing take-up of digital banking and announces additional branch closures across UK Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Experiment proves banks cannot take digital first for granted

Experiment finds majority of banking customers do not fully understand online statements Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Tesco Bank suffers computer problems

Tesco Bank customers are the latest to suffer as a result of IT problems Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Former Capital One data analysts charged with mining customer data

US financial services regulator SEC charges two former employees of financial services firm Capital One with insider trading Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Lack of banking app functionality deters users more than security fears

More people are choosing not to use banking apps because of a lack of functionality than those deciding not to because of security fears, according to a survey Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Halifax launches online banking for children

Halifax has launched an online banking service aimed at helping 11 to 15-year-olds better manage their money Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Mobile banking will help the poor transform their lives, says Gates Foundation

Mobile banking can help the poor change their lives and two billion people who don’t have bank accounts store money by phone by 2030 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Case study: Hedge fund AHL Man Group uses MongoDB to feed quants with data

Hedge fund AHL Man Group replaces disparate relational databases with a single data platform built on NoSQL database MongoDB Continue Reading

By

• Brian McKenna, Senior Analyst, Business Applications

Six challenger banks using IT to shake up UK retail banking

The retail banking sector is going through a period of regulation-driven change and IT is playing a key role Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Younger users prefer biometrics to passwords

Younger bank customers would rather use biometrics than PINs and passwords for security, according to Visa Europe Continue Reading

By

• Clare McDonald, Business Editor

Google to buy Softcard in latest round of financial services empire building

Google is in talks to acquire mobile phone payments system Softcard as it increases its financial services capabilities Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Barclays creates role to lead transformations

Barclays Bank has appointed a group chief operating officer (COO) to lead it through transformations, including major IT investments Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Barclays bank launches kids' coding site

Barclays bank launches a coding app for children and offers weekly classes to increase its credentials in IT-based service provision Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Atom Bank could be first real threat to traditional banks

Digital-only bank could be the first real challenge to high street banks if it turns its low-cost operating advantage into better rates for customers Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Services provider Tech Mahindra adds banking IT expertise to its portfolio

Indian IT services supplier Tech Mahindra adds consultancy skills and gains finance customers after buying banking services firm Sofgen Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Sainsbury's Bank IT system problems a warning to new banks

Sainsbury's Bank has experienced IT problems that left customers unable to use their credit cards for a day Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Alibaba bank and WeBank show Google and Facebook the way

Technology can drive traditional banks to reform, says Chinese premier Li Keqiang at the launch of China’s first online-only bank Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Online money transfer provider Xoom suffers multimillion-dollar fraud

Digital money transfer provider Xoom has admitted to suffering a $30.8m loss at the hands of fraudsters Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Cool and funky bank to launch in UK soon

The UK launch of a web 2.0 and social media-based bank in the UK is imminent as Germany’s Fidor Bank applies for UK licence Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Deal between RBS and CA over IT failure will remain secret

The details of the financial settlement between RBS and CA Technologies in relation to a massive IT failure will remain secret Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Top 10 CIO interviews of 2014

The top technology chiefs in the UK shared their opinions and experiences of modern IT leadership Continue Reading

By

• Computer Weekly Staff

Digital technology to open up core banking market

The challenges of digital banking will open core banking software market to more suppliers as banks attempt to keep up Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Fears over the IT security of new banks are overblown

Challenger banks such as PayPal are perceived to be less secure than traditional banks when protecting personal data. But is this the case? Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

MPs give Post Office the cold shoulder

In this week's Computer Weekly we revisit sub-postmaster grievances with the Post Office's IT. Despite years of allegations that the Horizon transaction processing system was at fault for many accounting shortfalls, the Post Office unrelentingly defended it. Read the issue now. Continue Reading

Banks are opening up IT to third parties, as hackathon demonstrates

National Australia Bank (NAB) opened its IT to its internal tech team and independent developers to access innovation Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Barclays expands cheque payment technology

Barclays is expanding a pilot to enable a million customers to pay in cheques online by taking a picture of them Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Virgin money invests in mobile money firm

Virgin Money has partnered with mobile money provider Monitise to provide customers with mobile banking solutions Continue Reading

By

• Clare McDonald, Business Editor

UKtech50 2014 - The most influential people in UK IT

Computer Weekly has announced the fifth annual UKtech50, our definitive list of the movers and shakers in UK IT Continue Reading

By

• Bryan Glick, Editor in chief

Danske Bank latest to take offshore IT in-house

Danske Bank is the latest company to transform its offshore IT strategy by setting up a captive centre in India next year Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

ABN Amro re-signs IBM for 10-year, multibillion-euro IT contract

ABN Amro has extended its multibillion-euro outsourcing deal with IBM by another 10 years Continue Reading

By

• Cliff Saran, Managing Editor

Barclays bank launches mobile video banking

Barclays Bank has launched a 24-hour video banking service that will enable customers to receive face-to-face service from anywhere Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Germany and the UK - Europe’s technology pioneers

Stephen Georgiadis, managing director at investment bank Altium, explores the thriving technology sectors in the UK and Germany Continue Reading

By

• Stephen Georgiadis

Goldman Sachs invests in analytics startup

Investment bank Goldman Sachs has invested in a financial analytics startup as part of a $15m funding round Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Finance regulators overlook offshoring in RBS IT failure statements

UK financial services regulators made no mention of the role of offshored IT in the problems that led to the ₤56m fine for RBS Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

HSBC launches Paym for business

HSBC launches Paym capabilities to allow business customers to receive payments using mobile phone numbers Continue Reading

By

• Clare McDonald, Business Editor

Former Allied Irish COO to launch iTunes-style bank

Former Allied Irish Bank COO Anne Boden is to create digital bank in 2015, with the aim of changing banking in the same way Apple changed music Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Regulators fine Royal Bank of Scotland ₤56m for IT failure

Financial industry regulators fine Royal Bank of Scotland (RBS) for an IT outage in 2012 that left customers unable to access their accounts Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Worldpay processes billionth contactless payment

Supermarkets account for most contactless payments as payments company Worldpay processes its billionth contactless payment Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UBS move to Oracle HR in the cloud hits big delays

Swiss bank UBS has hit major delays migrating to a cloud-based HR system Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

CIO interview: Glenn Murphy, London & Capital

Asset-management firm London & Capital shifts its focus to systems that add business value, says CIO Glenn Murphy Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Government asks for more information on digital currencies

The government has released a Call for Information to invite views on the benefits and risks of digital currencies Continue Reading

By

• Caroline Baldwin, Freelance editor and journalist

Inside Kashiwa-no-ha: Hitachi Smart City near Tokyo

Hitachi shares what its Kashiwa-no-ha Smart City looks like near Tokyo, Japan. Continue Reading

By

• Kayleigh Bateman, Computer Weekly

Currency exchange business Travelex cuts HR costs by 25% with cloud IT systems

Travelex's cloud human resources (HR) project survived a budget overrun to cut costs and job recruitment times Continue Reading

By

• Bill Goodwin, Computer Weekly

Banks see technology firms as biggest threat, says Infosys

Google, Apple and Facebook the biggest threat to banks as technology firms offer consumers financial services Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Lloyds Banking Group confirms 9,000 job cuts and digital investment

Lloyds Banking Group has confirmed it will cut 9000 jobs and close around 150 branches to focus more on its digital strategy Continue Reading

By

• Clare McDonald, Business Editor

Finance IT group wants to push forward banks' cloud discussion

The Banking Industry Architecture Network (Bian) calls on industry to decide on the core banking systems to move to cloud platforms and share Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Firms lack technology for workforce of the future

European businesses will rely increasingly on freelance, geographically dispersed employees as they vie to attract the top skills to their organisations over the next 5 years. Continue Reading

By

• Bill Goodwin, Computer Weekly

EMC buys out Cisco’s stakes in VCE as year-on-year revenue jumps 9%

Storage giant EMC has reported a 9% increase year on year for the third quarter of 2014, thanks to revenue rises across its divisions Continue Reading

By

• Archana Venkatraman, Datacentre Editor

Social media for communication inside the enterprise

Companies have long used social media technology such as Facebook and Twitter to reach more customers – but how are businesses using it internally? Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Malware being used to steal cash from ATMs

Criminals are using malware to steal cash from ATMs without debit and credit cards Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Barclays concludes first round of fintech accelerator

Barclays has finished the first round of its financial services technology (fintech) startup accelerator, following a demo day Continue Reading

By

• Clare McDonald, Business Editor

DDN launches scale-out NAS GS7K GPFS product bundle

DataDirect Networks launches the GS7K, a pre-configured GPFS scale-out NAS/parallel file system storage product Continue Reading

Visa loses mobility director to Apple

Mary Carol Harris, former director of mobile for Visa Europe, has left the firm to take up a position at Apple Continue Reading

By

• Clare McDonald, Business Editor

Lloyds creates online appointment booking in attempt to save branches

Lloyds Bank has introduced a system which allows customers to book in-branch appointments online Continue Reading

By

• Clare McDonald, Business Editor

UKtech50 2014 - help us choose the 50 most influential people in UK IT

Computer Weekly is launching the fifth annual UKtech50, our definitive list of the movers and shakers in UK IT - tell us your nominations Continue Reading

By

• Bryan Glick, Editor in chief

Customer loyalty biggest challenge for banks

Banks have cited customer loyalty as their main concern, according to a survey by financial services firm Temenos Continue Reading

By

• Clare McDonald, Business Editor

Ransomware on the rise, warns cyber threat report

The first half of 2014 saw an increase in online attacks that lock up user data and hold it for ransom, reports F-Secure Labs Continue Reading

By

• Warwick Ashford, Senior analyst

Barclays bank launches biometric authentication

Barclays bank plans to launch biometric readers that read users' finger veins to authenticate customers Continue Reading

By

• Clare McDonald, Business Editor

Locking Russia out of Swift "unlikely and complicated", says analyst

A senior analyst at Celent has said cutting off Russia from Swift is unlikely to be effective Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK wants Russia blocked from using financial messaging system

The UK is pushing for a ban on Russian businesses using the Society for Worldwide Interbank Financial Telecommunication (Swift) network as a sanction in reaction Russia’s role in the current crisis in Ukraine. Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Former bank chief launches financial trading app

A trading social network on Apple’s App Store hopes to attract more than 100,000 consumer traders as members by the end of 2014 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Spanish bank spends €500m on contactless ATMs

CaixaBank has commissioned Fujitsu to build 8,500 ATMs that will be contactless Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Banks slow to change despite growing competition

The banking sector faces major challenges in transforming IT to meet the digital needs of customers Continue Reading

Contactless payments continue to rise

Contactless transactions have increased by 189% since May 2013, according to Visa Europe. Continue Reading

By

• Clare McDonald, Business Editor

Fingerprint scanners most popular alternative to banking passwords

Fingerprint scanning technology is the most favoured biometric security alternative to passwords for UK bank customers Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Bank of America: When software relationships turn sour

Tibco has filed a lawsuit alleging the Merrill Lynch division of Bank of America illegally used $300m of its software for a major IT project Continue Reading

By

• Cliff Saran, Managing Editor

System for seven-day bank account switching underused

The IT system that underpins government’s regulation of seven-day bank account switching is being underused Continue Reading

Total internet failure: are you prepared?

A total internet failure could stop any business in its tracks, yet few are preparing for this possibility, KPMG has warned Continue Reading

By

• Warwick Ashford, Senior analyst

Info sharing key to cyber defence, says financial services firm

Threat information sharing is key to success in combating cyber attacks, says the Depository Trust and Clearing Corporation Continue Reading

By

• Warwick Ashford, Senior analyst

UK leads international partnership to fight financial malware

The UK National Crime Agency is leading international collaboration between law enforcement and the private sector to fight bank theft malware Continue Reading

By

• Warwick Ashford, Senior analyst

Finance watchdog to investigate colocation services

The Financial Conduct Authority (FCA) is investigating colocation services Continue Reading

Why using voice biometrics is a good idea

Banks and other organisations are turning to voice biometrics, but why do they believe the technology is good idea? Continue Reading

By

• Warwick Ashford, Senior analyst

Smart light bulbs get security update

Smart light bulb maker LIFX has issued a firmware update after security researchers exposed a security weakness Continue Reading

By

• Warwick Ashford, Senior analyst

Barclays passes government’s ‘internet-born threat’ test

Barclays Bank has been awarded the government’s cyber security certificate for digital banking services after independent tests of services such as Pingit Continue Reading

Security Think Tank: The dos and don’ts of a good incident response plan

What does a good information security incident response plan look like? Continue Reading

By

• Tim Holman, 2-sec

Facebook apologises over psychological experiments

Facebook has apologised over the controversial psychological experiments carried out on 689,000 users without their consent in 2012 Continue Reading

By

• Warwick Ashford, Senior analyst