IT for financial services

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

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• 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

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• 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

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• 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

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• 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

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• 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

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• 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

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• 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

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• 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

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• 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

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• 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

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• 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

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• 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

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• 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

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• 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

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• 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

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• 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

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• 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

Industrial control systems increasingly under attack, says Kaspersky

Targeted attacks on industrial control systems take place on a regular and increasing basis, says Kaspersky Lab Continue Reading

By

• Warwick Ashford, Senior analyst

Facebook under fire over secret experiment on users

Facebook has come under fire for conducting a psychology experiment on 689,000 users without their consent Continue Reading

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• Warwick Ashford, Senior analyst

Wearable tech must comply with privacy laws, warns ICO

Wearable technology must comply with UK data privacy laws, warns the ICO Continue Reading

By

• Warwick Ashford, Senior analyst

Google begins complying with European takedown requests

Google has begun removing search results in response to takedown requests from European citizens Continue Reading

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• Warwick Ashford, Senior analyst

IFDS integrates UK and India service centres

International Financial Data Services has implemented software to balance workloads across UK and Indian delivery centres Continue Reading

Domino’s breach underlines value of personal data, say experts

The latest cyber breach to hit a high-profile brand underlines the high value of personal data, say security experts Continue Reading

By

• Warwick Ashford, Senior analyst

Technology key to secure document future, says UK Home Office

Physical security is just as important as digital security in documents such as passports, says UK Home Office Continue Reading

By

• Warwick Ashford, Senior analyst

Microsoft admits running out of IP addresses for Azure

Microsoft has assured US Azure customers data remains in the US, despite running out of US-registered IP addresses at times Continue Reading

By

• Warwick Ashford, Senior analyst

HSBC makes executives responsible for application consolidation

In the next few weeks, senior executives at HSBC globally will have KPIs to reduce the number of applications they run Continue Reading

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• Cliff Saran, Managing Editor

Tesco Bank launches current account on off-the-shelf platform

Tesco has launched a current account four years after implementing its core banking platform Continue Reading

EE drives mobile phone deals with CRM software implementation

Mobile phone operator Everything Everywhere claims a 400% increase in phone deals after rolling out customer relationship management software Continue Reading

By

• Bill Goodwin, Computer Weekly

Turing Test 2014 marks historic milestone in artificial intelligence

A computer program has made history by passing the artificial intelligence test set by computer science pioneer Alan Turing Continue Reading

By

• Warwick Ashford, Senior analyst

Microsoft retaliates to China’s Windows 8 spying claims

Microsoft has launched a social media campaign against China’s claims that Windows 8 is being used for US spying Continue Reading

By

• Warwick Ashford, Senior analyst

CIOs should 'leave innovation to marketing'

CIOs should focus on managing the technical infrastructure and leave innovation to other parts of the business – conclusion of a major study. Continue Reading

By

• Bill Goodwin, Computer Weekly

Cyber threats hiding in plain sight, says Palo Alto Networks

Cyber attackers exploit commonly used business applications to bypass security controls, research shows Continue Reading

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• Warwick Ashford, Senior analyst

UK shoe retailer Office hit by data breach

Data breach at UK shoe retailer Office prompts calls for online firms to beef up security around customer details Continue Reading

IT supplier insolvencies fall for first time as economy recovers

Technology companies have reached a turning point as insolvencies fall for the first time in 2014 Continue Reading

By

• Tim Wood and Henry Kirby

Google launches right-to-be-forgotten application form

Google has introduced an online application form for Europeans who want personal data to be removed from online search results Continue Reading

By

• Warwick Ashford, Senior analyst

CIO interview: Ian Cohen, CIO, Jardine Lloyd Thompson

Running a programme to transform the business is the wrong way to go about change, according to Ian Cohen, CIO at insurance broker JLT Continue Reading

By

• Cliff Saran, Managing Editor

Principles of compliance in the financial services industry

Compliance in financial services can appear a staggeringly complex web of laws and regulations, but some key principles apply, says Mathieu Gorge of Vigitrust Continue Reading

By

• Antony Adshead, Storage Editor

Android Outlook app has privacy issues, warn researchers

Microsoft’s Outlook.com app for Android is exposing users' data, warn security researchers Continue Reading

By

• Warwick Ashford, Senior analyst

eBay under fire over handling of data breach

eBay is coming under increasing criticism over its handling of the data breach that exposed millions of user records Continue Reading

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• Warwick Ashford, Senior analyst

Case study: Bank of America and Nationwide use in-branch telepresence

Bank of America and Nationwide implement video conferencing technology to enable customers to speak to banking specialists Continue Reading

By

• Caroline Baldwin, Freelance editor and journalist

Tablet banking to quickly overtake mobile banking

The number of people in Europe banking on tablets will grow at twice the rate of those on mobile phones, with security concerns not a major driver Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

US cyber criminal jailed for 20 years

US authorities have jailed a cyber criminal for 20 years, for trading in stolen credit cards and identities Continue Reading

By

• Warwick Ashford, Senior analyst

Internet of things security is relevant to business, says researcher

Internet of things is relevant to enterprise information security professionals, says researcher Continue Reading

By

• Warwick Ashford, Senior analyst

Minnesota passes mobile kill switch law to stop theft

Minnesota has become the first US state to introduce legislation aimed at reducing the theft of smartphones Continue Reading

By

• Warwick Ashford, Senior analyst

Net neutrality under threat from US plan

The US telecoms regulator has approved proposals that opponents believe will quash the principle of net neutrality Continue Reading

By

• Warwick Ashford, Senior analyst

Orange data breach underlines need for encryption, say experts

The theft of 1.3 million customer records from Orange, France underlines the need for encryption, say experts Continue Reading

By

• Warwick Ashford, Senior analyst

Internet privacy could thwart data security, warns expert

Steps to improve online privacy could thwart data security, warns security expert Hugh Thompson Continue Reading

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• Warwick Ashford, Senior analyst

The problems of legacy IT in banking

In this week’s Computer Weekly, as problems caused by legacy IT in banks become increasingly critical, we assess the difficulties in updating banking systems. After the Windows XP support issues – we look at a similar problem facing Oracle users. And we take an in-depth look at managing corporate networks to enable mobile IT. Read the issue now. Continue Reading

Co-operative Bank report reveals challenge of legacy IT replacement

A report into the £1.5bn losses at Co-operative Bank reveals numerous failures in a project to replace core banking systems Continue Reading

Infosec 2014: Threat knowledge is key to cyber security, say experts

Business should improve awareness of cyber risks to stay ahead of criminals, say experts Continue Reading

By

• Warwick Ashford, Senior analyst

Software developers suffer as IT companies endure rising insolvencies

Increase in the number of IT insolvencies expected as the economy improves Continue Reading

By

• Tim Wood and Henry Kirby

UK and Ireland cyber attacks up 300% in 2013, says FireEye

UK and Ireland enterprises were hit by an average of more than 70 new infections a day in 2013, a report shows Continue Reading

By

• Warwick Ashford, Senior analyst

Cyber threat detection paramount, says SANS fellow

Cyber threat prevention is ideal, but detection is a must, says Eric Cole, SANS Institute fellow Continue Reading

By

• Warwick Ashford, Senior analyst

Heartbleed prompts tech firms to pledge open-source support

Top tech firms have joined forces to support open-source software to help prevent future bugs like Heartbleed Continue Reading

By

• Warwick Ashford, Senior analyst

Facebook reports strong quarter driven by mobile ads

Facebook has beaten analyst expectations with first-quarter profits of $642m and revenues of $2.5bn, up 72% Continue Reading

By

• Warwick Ashford, Senior analyst

Co-op Bank plans to 'fix the fundamentals' and invest in IT

The Co-operative Bank intends to invest in IT systems following a troubled year Continue Reading

By

• Caroline Baldwin, Freelance editor and journalist

Microsoft halts Windows 8.1 update for businesses due to bug

Microsoft has suspended the Windows 8.1 update for business users because of a bug. Continue Reading

By

• Warwick Ashford, Senior analyst

TCG releases TPM 2 specification for improved security

The Trusted Computing Group has published an updated specification for the Trusted Platform Module Continue Reading

By

• Warwick Ashford, Senior analyst

Workday sees opportunity for cloud financial management in Europe

Workday plans to push cloud finance and accounting services to enterprise in Europe, but observers say its background in HR technology may prove an obstacle Continue Reading

By

• Bill Goodwin, Computer Weekly

RBS IT head Mike Errington retires

Royal Bank of Scotland (RBS) IT head Mike "Offshore Errington" is to retire after months of speculation during the bank's cost-cutting operation Continue Reading

Study alleges deeper NSA influence on RSA

RSA adopted a second NSA-developed encryption tool, increasing the agency's spying capabilities, a study claims Continue Reading

By

• Warwick Ashford, Senior analyst

UK update to copyright law imminent

The UK is to update its 1988 copyright law for the digital age in line with a nearly three-year-old review Continue Reading

By

• Warwick Ashford, Senior analyst

Google says government data requests are up 120% since 2009

Government requests for information about Google customers, have increased by 120% since 2009 Continue Reading

By

• Warwick Ashford, Senior analyst

Security an unnecessary expense, say one in six techies

One in six IT professionals see security as an unnecessary expense, a study has revealed Continue Reading

By

• Warwick Ashford, Senior analyst

Target data breach: Why UK business needs to pay attention

Late last year, US retailer Target was hit by one of the biggest data breaches in the industry's history. So what happened and why is it relevant to UK businesses? Continue Reading

By

• Lee Munson

Customer privacy an ongoing challenge, says Unilever

Unilever has set up a programme to address the continually evolving challenge of privacy issues relating to customer data Continue Reading

By

• Warwick Ashford, Senior analyst

Pirated software malware to cost business $491bn in 2014, study shows

Malware deliberately loaded into pirated or counterfeit software is expected cost enterprises $491bn in 2014 Continue Reading

By

• Warwick Ashford, Senior analyst

Firms urged to take tough action on Unix-based cyber attack

Security researchers have urged businesses to take action on a cyber criminal campaign that has seized control of 25,000+ Unix servers worldwide Continue Reading

By

• Warwick Ashford, Senior analyst

SMEs believes they are immune to cyber attack

Most SMEs believe they are not at real risk of cyber attack, a survey has revealed Continue Reading

By

• Warwick Ashford, Senior analyst

Hacktivism: good or evil?

IT lawyer Dai Davis looks at the rise of hacktivism and its impact on business and international politics Continue Reading

By

• Dai Davis, Percy Crow Davis & Co

More than 162,000 WordPress sites used in DDoS attack

Security researchers have uncovered a DDoS attack that used more than 162,000 legitimate and unwitting WordPress websites Continue Reading

By

• Warwick Ashford, Senior analyst

Tim Berners-Lee calls for internet users’ "bill of rights"

World Wide Web creator marks its 25th anniversary by calling for a “free, open and truly global internet” enshrined in a "bill of rights" Continue Reading

By

• Warwick Ashford, Senior analyst

Dark web key enabler for cyber criminals, say McAfee researchers

The dark web is a key conduit for the malware industry to refine and distribute its products and services, say security researchers Continue Reading

By

• Warwick Ashford, Senior analyst

RBS to tidy up systems mess

Royal Bank of Scotland (RBS) outlines plans to cut costs and improve customer services, slashing the number of IT systems in the process Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

MasterCard and Syniverse launch geolocation card verification service

MasterCard and Syniverse have launched a number of mobile and payment services for mobile users to use while travelling abroad Continue Reading

By

• Caroline Baldwin, Freelance editor and journalist

Microsoft takes aim at passwords

Microsoft says it is determined to solve the problem of ineffective authentication that relies on usernames and passwords Continue Reading

By

• Warwick Ashford, Senior analyst