IT for financial services

Over a quarter of UK adults use buy now, pay later fintechs

Latest research from UK financial services regulator shows BNPL more likely to be used by people experiencing financial difficulty Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

The implications of biased AI models on the financial services industry

The Bank of England has warned of the risk artificial intelligence models present in creating bias that could pose a threat to the UK’s financial services sector. How do those risks emerge and how they might be mitigated?   Continue Reading

By

• Jamie Rowlands

Finland shows off its new 20-qubit quantum computer

Anybody who scoffs at Finland’s lofty ambitions in the field of quantum computing should remember that not only is the country home to one of Europe's most successful companies (Nokia), but it also houses Europe’s most powerful supercomputer (LUMI). Continue Reading

By

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

UK Finance paints mixed picture of fraud as losses top £500m

UK losses to fraud in the first six months of the year topped £500m, but a slight decline in overall crime rates was observed, according to UK Finance’s latest data Continue Reading

By

• Alex Scroxton, Security Editor

CDO interview: Carter Cousineau, vice-president of data and model governance, Thomson Reuters

The news and information provider places a premium on responsible and ethical use of artificial intelligence, and central to that is the governance of data and the models surrounding it Continue Reading

By

• Mark Samuels

DORA: Moving into a new era of digital resilience

The EU’s Digital Operational Resilience Act will come into force in just over a year, the majority of risk management professionals are only at the beginning of their planning journey. Kate Needham-Bennett of Fusion Risk Management explains how to get things moving Continue Reading

By

• Kate Needham-Bennett

Lloyds Bank launches digital identity app

Lloyds Bank has launched a digital identity app with tech startup Yoti, after it invested £10m in the firm Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Visa to invest $100m in generative AI startups

Payments giant investing in startups that focus on applying generative AI to commerce and payments Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

AI vs software outsourcing: An opportunity or a threat?

While artificial intelligence offers unprecedented opportunities for growth, efficiency and automation, it also raises pertinent questions about the future of software outsourcing Continue Reading

By

• Maxim Ivanov

HMRC names and shames non-compliant umbrella firms for running tax avoidance schemes

The government tax collection agency is stepping up its efforts to prevent contractors falling victim to non-compliant umbrella firms with three new names added to its list of known tax avoidance schemes Continue Reading

By

• Caroline Donnelly, Senior Editor, UK

Visa to fund AI scholarships for underrepresented students in government scheme

Payments giant supports UK scheme to increase diversity in the data and artificial intelligence sector through funding Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Insights from launching a developer-led bank

A software developer's approach to building a bank in the digital age. Continue Reading

By

• David Jarvis

Ending the online fraud epidemic

A different approach to managing personal data across the web is possible - and it could minimise online fraud, boost e-commerce, and help make the web more secure. So why isn't the government doing it? Continue Reading

By

• Jon Nash, Demos

Unregulated DeFi services abused in latest pig butchering twist

Pig butchering scammers are taking advantage of the unregulated nature of DeFi crypto trading apps to siphon off even more money from their victims, according to the latest findings of an ongoing investigation Continue Reading

By

• Alex Scroxton, Security Editor

Government seeks industry views on cyber threat to UK CNI

The Science, Innovation and Technology Select Committee is seeking evidence from the cyber sector as it launches an inquiry into the resilience of the UK's critical national infrastructure Continue Reading

By

• Alex Scroxton, Security Editor

Number of UK contactless payments rose by 30% last year

UK consumers are increasingly making contactless payments, with the number of payments using the technology up 30% last year Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Banks less focused on metaverse technology than last year

Senior banking executives have reduced their focus on investigating metaverse technology in the past 12 months Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Patch Tuesday: Microsoft fixes zero-days in Word and Streaming Service

September 2023 brings a light Patch Tuesday, with two zero-days and five critical vulnerabilities listed in the latest release Continue Reading

By

• Alex Scroxton, Security Editor

European enterprises to spend more on generative IT to close gap on US

European organisations are upping their spending on generative AI innovation, but face challenges recruiting the right people to support this Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

European fintech investment plummets, but more sustainable future lies ahead

Investment in European fintechs has seen a dramatic drop, but a more sustainable sector will result from investment discipline Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

University of Glasgow launches Centre for data science and AI

Scottish university will apply artificial intelligence and data science to help solve some of the world's biggest challenges Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

HSBC collaborates on hybrid quantum optimisation

The bank, which wants to be at the forefront of quantum computing, is looking at how it can manage collateral assets more efficiently Continue Reading

By

• Cliff Saran, Managing Editor

Sensitive NatWest customer files set to be returned after High Court agreement

Sensitive NatWest customer files set to be secured by bank after years in the home of a data breach whistleblower Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Interview: Ashish Gupta, head of EMEA, HCLTech

It’s not just enterprises that changed their operating models during and after Covid, but also the suppliers that took them on the journey, HCLTech Europe’s head explains Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Saudi Arabian fintech gets Mastercard boost

Saudi-based fintechs could soon benefit from Mastercard's extensive payments network Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

London Stock Exchange plans blockchain-based market

The London Stock Exchange plans to have a blockchain-based trading venue available in the next 12 months Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Thousands of Klarna staff access ChatGPT Enterprise

Fintech unicorn Klarna has become an early adopter of the enterprise version of ChatGPT as it continues to focus on artificial intelligence Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

July sees huge jump in open banking payments

The number of open banking payments in the UK have doubled over the past year, according to latest figures Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Zurich Insurance slashes ServiceNow application development time

Insurance giant cuts time it takes to complete development of ServiceNow applications by days Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Top-performing CISOs reserve time for professional development

Survey of chief information security officers conducted by Gartner sheds light on habits shared by the top-performing members of the profession Continue Reading

By

• Alex Scroxton, Security Editor

Cyber attacks in 2023 develop quicker as average dwell times plummet

The median attacker dwell time shrunk from 10 to eight days in the first seven months of 2023, and in the case of ransomware attacks it is down to just five days Continue Reading

By

• Alex Scroxton, Security Editor

NatWest customer calls bank’s handling of breach of his data ‘disgusting’

A second NatWest customer has contacted Computer Weekly after finding out from a whistleblower that his sensitive personal data has been in her home for 14 years Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

TSB and Fintech Scotland lab open for applications

High street bank opens applications to its latest fintech programme in partnership with Fintech Scotland Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Bank of England core system experiences outage

The “beating heart” of the UK financial system stopped after a technical issue Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

NatWest offers compensation to customer affected by data breach exposed by whistleblower

NatWest bank has offered compensation to a former customer affected by a data breach alongside around 1,600 other former and current customers Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Why technology jobs are proving resilient

The clamour for technology professionals has become less frenetic in recent months but demand for IT skills remains high Continue Reading

By

• Andy Heyes and Rhona Carmichael, Harvey Nash, part of Nash Squared

Rise in fraudsters spoofing the websites of leading UK banks

Despite safeguards to protect customers from scams, UK retail banks are still seeing high volumes of fake phishing websites exploiting their brands, and the problem seems to be increasing in scope and scale Continue Reading

By

• Alex Scroxton, Security Editor

Chief data officer interview: Neema Raphael, Goldman Sachs

After two decades at Goldman Sachs, Neema Raphael tells Computer Weekly about his tech journey at one of the world’s biggest banks Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Mayor of London announces startup funding

Seven technology startups working on the Mayor of London’s Poverty Prevention Challenge will receive up to £50,000 each to further develop their proposals, designed to help alleviate the cost-of-living crisis for the capital’s most vulnerable Continue Reading

By

• Sebastian Klovig Skelton, Data & ethics editor

Transforming the financial system's plumbing

Executive heading up the Bank of England’s core system replacement project says the financial services sector plumbing is getting the attention it deserves. Continue Reading

By

• Victoria Cleland

Bank of England’s project to replace ‘beating heart’ is foundation for continuous development

The Bank of England has reached a major milestone in its core system replacement programme, with next landmark in sight Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

CaixaBank adds hundreds more IT professionals to support digital transformation

CaixaBank is recruiting 200 more IT professionals in Spain to support its ongoing digital transformation Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Whistleblower contacts NatWest customers affected by a decade-old data breach

Former worker says contacting the people affected by the data breach is her last resort after the bank and regulators appear satisfied that the sensitive data file is safe stored under her bed Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Met Office bids to make climate data more accessible with Esri

The Met Office is offering a new data portal, built on Esri’s geographic information systems technology, to enable users to understand local and national impacts of climate change Continue Reading

By

• Brian McKenna, Senior Analyst, Business Applications

HSBC explores quantum-safe comms to AWS edge

Banking group HSBC is looking at how to secure transactions and the benefits of quantum computing in finance Continue Reading

By

• Cliff Saran, Managing Editor

BBVA launches tech job portal as it continues to add talent

Spanish bank BBVA ramps up its tech recruitment strategy with new online portal and target of 2,600 more people Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Deutsche Bank completes migration of millions of Postbank customers

Deutsche Bank has completed the migration of 12 million Postbank customers to its banking platform Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Has mobile become the battleground for banking?

Head of Insights at data.ai discusses the unstoppable freight train that is the mobile banking revolution Continue Reading

By

• Lexi Sydow

GDPR tax reclaim scheme preys on fears of SMEs

IT suppliers are a target of companies offering a tax reclaim scheme that preys on small businesses’ fears around General Data Protection Regulation compliance Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Infosys to acquire Danske Bank Indian IT centre as part of $454m outsourcing deal

Agreement will accelerate Danske Bank’s digital transformation and widen Infosys’ growing customer base in the Nordic region. Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

HSBC leaving Canary Wharf headquarters

HSBC is to leave its current Canary Wharf headquarters by 2027 as hybrid-working policies reduce demand for office space Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK pension scheme expands relationship with IT services giant TCS

Tata Consultancy Services retains contract with UK pension scheme for another decade after extending a contract that was first signed in 2011 Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Lloyds Bank to open tech centre in India

UK bank taps into Hyderabad tech ecosystem by opening a tech centre focused on improving digital experiences for customers Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Software spending grows fastest as finance firms spend $652bn on tech in 2023

Banks and investment firms are increasing their spending on IT despite gloomy economic outlook, but priorities have changed Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Co-op Group adds nearshore engineering resources

Manchester headquartered Co-op group adds additional engineering resources as competition for talent in the UK ramps up Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Mizuho Financial Group trials generative AI for development and maintenance

Japanese bank is working with Fujitsu to explore potential for using generative artificial intelligence technology in system development and maintenance Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

PCI compliance

PCI compliance is adherence to the set of policies and procedures developed to protect credit, debit and cash card transactions and prevent the misuse of cardholders' personal information. Continue Reading

By

• Nick Barney, Technology Writer
• Ben Cole, Executive Editor

Prime minister Rishi Sunak faces pressure from banks to force tech firms to pay for online fraud

The UK’s major banks have told the prime minister to force tech firms to do more to prevent fraud that the banks end up paying for Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Early June Microsoft outages were result of large-scale DDoS hit

Investigations into recent outages on Microsoft Azure and Outlook services have turned up evidence of a massive distributed denial-of-service attack Continue Reading

By

• Alex Scroxton, Security Editor

Jordan’s Ahli Bank launches app on cloud-native platform

Middle East bank launches app on latest cloud-native banking platform from Google-inspired company Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Visa takeover means economic turmoil won’t slow Tink’s progress

Tink is one of the pioneers of the open banking sector, and under Visa’s light-touch ownership is continuing to think like a startup Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Dutch government puts up €123m to address shortage of ICT workers

Financial injection aimed at improving cooperation between vocational education and business in the Netherlands, and making the tech professions more attractive Continue Reading

By

• Kim Loohuis

Collaboration in finance sector develops prototype API for digital currency

The Bank for International Settlements and the Bank of England worked with private sector on central bank digital currency experiment Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

BBVA uses AI and analytics services from AWS

BBVA invests in Amazon Web Services cloud platforms to help transform itself into an organisation driven by AI and data Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Citi US Personal Banking turns to AI to ‘delight’ customers with personalised services

Citigroup’s US Personal Banking business has created a repository of customer data and is rolling out a decision engine to provide customers with personalised services Continue Reading

By

• Bill Goodwin, Computer Weekly

TSB calls on Meta to intervene and protect users from fraud losses of £250m this year

TSB is the latest bank to demand more action from social media sector in helping to reduce online fraud Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Banks still investing heavily in legacy payments systems

Banks are missing out on additional revenues through payment services because they are stuck with inflexible legacy payments systems. Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Belgian bank leaps forward in digital transformation through core banking outsourcing deal

Online bank moves to a software-as-a-service core banking platform to ‘leapfrog’ in-house development Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

GoCardless cuts jobs and wants its ‘startup spirit’ back

Payments fintech unicorn GoCardless will cut its workforce in the UK as part of a 15% reduction in its global workforce Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Delayed Making Tax Digital programme to cost taxpayers extra £1.5bn

HM Revenue and Customs’ (HMRC) Making Tax Digital programme, which is running several years behind schedule, is expected to cost five times more than planned, National Audit Office (NAO) report finds Continue Reading

By

• Lis Evenstad

Annual spend on regtech to reach more than £200bn by 2028

Global corporates will spend over $200bn in 2028 as the technology is used to help organisations in more industries comply with complex regulations. Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Sweden’s Ikano Bank outsources core banking to TCS

Ikano Bank moves to cloud banking platform from Indian IT services giant Tata Consultancy Services Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK gets new rules to regulate crypto sector

The Financial Conduct Authority is introducing new rules to regulate the cryptoasset sector, after being handed a government remit to oversee crypto promotions Continue Reading

By

• Alex Scroxton, Security Editor

UKtech50 2023: The most influential people in UK technology

Computer Weekly has announced the 13th annual UKtech50 – our definitive list of the movers and shakers in the UK tech sector Continue Reading

By

• Lis Evenstad

UKtech50 2023 winner: Michelle Donelan/Chloe Smith, secretary of state, DSIT

Computer Weekly looks at the achievements and successes of the Department for Science, Innovation and Technology, as its secretary of state is recognised as the most influential person in UK technology for 2023 Continue Reading

By

• Lis Evenstad

NatWest and University of Edinburgh form partnership to research data use in banking sector

Scottish university and banking group set up research centre that will aim to improve the use of banking data Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Open banking regulator sets out next steps

Plans for ongoing evolution of the UK open banking sector have been set out by regulator in bid to grow the open banking sector in a ‘safe, scalable and economically sustainable way’ Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Payments regulator makes APP fraud reimbursement mandatory

UK payments regulator confirms changes to rules around repaying customers who lose money to authorised push payment fraudsters Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Indian IT services giant takes UK teachers’ pensions contract from Capita

Tata Consultancy Services bolsters its growing UK public sector customer base with key contract win Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Mercedes Pay turns vehicles into payment devices

German car manufacturer add contactless payment feature to enable drivers to find and book parking spaces and pay automatically when they arrive Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Bank of International Settlement sets up channel secure from quantum breach

The Bank of International Settlement has worked with two of Europe's central banks to explore preventing the security risks posed by quantum computers Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

UK has time limit on ensuring cryptocurrency regulatory leadership, says Parliamentary report

Parliamentary report makes 53 recommendations to the government's plans to regulate cryptocurrency Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Sweden is developing its own big language model

Artificial Intelligence Sweden is leading an initiative to build a large language model not only for Swedish, but for all the major languages in the Nordic region: Danish, Swedish, Norwegian, Icelandic, and Faroese Continue Reading

By

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

HSBC explores quantum computing for finance sector

UK banking giant works with quantum computing specialist to explore the technology’s potential in the finance sector Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Lloyds Bank calls on tech companies to control social media ‘wild west’

Lloyds Banking Group is calling on tech giants to step forward in the fight against online fraud, which emanates in the social media ‘wild west’ Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Europe’s central bank reveals drop in Euro Zone card fraud

Euro Zone card fraud drops with card-not-present scams down following the introduction of Strong Customer Authentication rules Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Downstream breaches of Capita customers spreading

As many as 90 organisations that used Capita services have now reported data breaches arising from various security incidents at the outsourcer Continue Reading

By

• Alex Scroxton, Security Editor

Tech jobs to go as part of JPMorgan layoffs

According to reports, US banking giant to cut hundreds of jobs, including role reductions in technology and operations Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Five key steps where there is a risk of fraud investigation

When fraud investigators come knocking, there are some important ways in which management and senior IT professionals can make sure their company is best protected. Continue Reading

By

• Caroline Day and Phil Taylor

Fintech pioneer Anne Boden steps aside from challenger bank CEO role

Fintech pioneer to step aside for a new CEO after 10 years building a UK banking unicorn Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Kuwait bank introduces biometric payments card

Middle East bank launches payment cards with fingerprint sensor technology embedded Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

JPMorgan’s UK digital retail bank adds more than a million customers in a year

The app-based bank launched in the UK by US giant JPMorgan has added one million customers in the past 12 months Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Visa to recruit 1,500 tech staff in Poland

Visa’s latest global tech hub will recruit up to 1,500 staff, with focus on artificial intelligence, cyber security, and resilience in payments and ecommerce sectors Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Microsoft and Google go into battle for enterprise AI

In this week’s Computer Weekly, as developments in generative AI accelerate, Microsoft and Google have each unveiled their plans around enterprise applications. Nobody doubts the importance of digital transformation – but experts say it won’t work without cultural change as well. And we examine the emerging practice of FinOps as part of cloud automation projects. Read the issue now. Continue Reading

UKtech50 2023: Vote for the most influential person in UK technology

Our judges have selected the top 50 leaders from a shortlist of more than 300 people – now it’s your chance to tell us who you think is the most influential person in UK technology Continue Reading

By

• Lis Evenstad

Black Basta ransomware attack to cost Capita over £15m

Exceptional costs arising from the March 2023 Black Basta ransomware attack on the systems of outsourcer Capita will be somewhere between £15m and £20m, the organisation says Continue Reading

By

• Alex Scroxton, Security Editor

UKtech50 2023: The longlist of the UK’s influential tech leaders

Each year, Computer Weekly launches a search for the most influential people in UK IT, asking the tech community who it thinks should be in the top 50 – here is the longlist of everyone nominated for 2023 Continue Reading

By

• Lis Evenstad

Capita pension clients told data may have leaked

Capita has told trustees of some of the pension funds for which it provides outsourced services that their customer data may have been stolen by the Black Basta ransomware operation Continue Reading

By

• Alex Scroxton, Security Editor

Open banking use to increase 470% in next four years, driven from Europe

Europe is leading the surge in the take-up of API-based open banking services, according to Juniper Research Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA

Santander reports increase in scams and admits fraud head was impersonated

Santander has reported an increase in impersonation scams, and admitted its own head of fraud was impersonated by a fraudster Continue Reading

By

• Karl Flinders, Chief reporter and senior editor EMEA