IT for financial services

Locked-down Nationwide staff make 2.5 million video calls in June

Home-working technologies are no longer just a contingency for large companies, with future working practices set to change Continue Reading

Dutch banking’s transaction monitoring utility gets green light

Plans for a shared utility to monitor financial transactions in the Netherlands have been given the go-ahead after six months of proving the concept Continue Reading

Most finance firms are multicloud, but many are unprepared for public cloud cyber attacks

Financial services firms are moving to the cloud at pace, but many are uncertain whether they could cope with an attack on an application based in the public cloud Continue Reading

CW Middle East: Facing up to coronavirus

The UAE, like the rest of the world, continues to be heavily impacted by the fallout of the Covid-19 pandemic – and technology is helping to lead the fight. Also read why the the Abu Dhabi National Oil Company sees its flagship digital project in high demand, and how the coronavirus has spurred the use of financial technology in Bahrain. Continue Reading

Tencent Cloud teams up with ADBC on banking services

Singapore’s Asia Digital Bank Corporation could leverage Tencent Cloud’s financial cloud platform to provide banking services to small businesses Continue Reading

Coronavirus: Bahrain sees fintech take-up surge amid Covid-19 crisis

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Over 15 billion credentials for sale on dark web

Research by Digital Shadows reveals the scale of the security threat facing consumers as it uncovers 15 billion usernames and passwords stolen in more than 100,000 different data breaches Continue Reading

Auditing for algorithmic discrimination

Despite the abundance of decision-making algorithms with social impacts, many companies are not conducting specific audits for bias and discrimination that can help mitigate their potentially negative consequences Continue Reading

Banks need to think like Google and not just follow it

Banks are recruiting senior thinkers from within the IT sector as digital transformations mature Continue Reading

MSP Xchanging attacked in ransomware incident

Specialist managed services provider is restoring customer access to systems after an unspecified ransomware incident Continue Reading

Société Générale acquires fintech challenger bank

French bank acquires Shine to expand its services to small businesses and entrepreneurs Continue Reading

FCA estimates about 2.6 million Brits have bought cryptocurrency

UK financial services regulator says there has been a significant increase in ownership of cryptocurrencies in the UK Continue Reading

BNP Paribas uses biometrics to increase contactless payment limit

French bank BNP Paribas is enabling customers to make higher value contactless payments through fingerprint-recognition technology Continue Reading

Standard Chartered embarks on virtual internship programme

Bank offers 300 candidates virtual placements on internship programme Continue Reading

Peer-to-peer lender Zopa gets full banking licence

Peer-to-peer lending pioneer works towards creating the ‘Netflix of banking’ Continue Reading

Nordic business is leading open banking charge in Europe

Nordic region has the right ingredients to prove open banking can benefit consumers, businesses and the economy Continue Reading

Datacentre investment boost as Norway’s government reinstates tax relief

Government reinstates datacentre energy tax relief for cryptocurrency mining organisations after investments in the country’s datacentres drops Continue Reading

Danske Bank begins process of creating autonomous development teams

Danish bank begins the process of changing how thousands of its staff work as it attempts to be more responsive to digital demand Continue Reading

Banking trojans roar back to prominence in May

Check Point sees an upswing in malicious activity around a number of classic banking trojan malware variants Continue Reading

NatWest develops behavioural biometrics as additional authentication

Bank is working with Visa to develop behavioural biometrics technology as an extra layer of invisible authentication Continue Reading

Brits get used to life without cash

British people are getting used to life without cash, as the Covid-19 lockdown forces the adoption of digital payments Continue Reading

Santander to recruit 3,000 more IT staff

Spanish bank to recruit a further 3,000 tech staff globally to accelerate its digital transformation Continue Reading

Fake contact-tracing apps delivering banking trojans

Spoof government coronavirus apps are popping up all over the world, says the Anomali Threat Research team Continue Reading

Tech firms respond to Nordic government calls

Nordic firms are working with tech suppliers to help them get back up and running after Covid-19 Continue Reading

Swedbank to rebuild anti-money laundering systems after damning report

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CW Europe: 5G rush in Russia

Russian mobile operators are pooling their resources to help them overcome the technical challenges of creating 5G networks. Also read why Swedbank is rebuilding its anti-money laundering systems, and how a public-private partnership in the Netherlands is combating business email compromise fraud. Continue Reading

Coronavirus: Danske Bank to make permanent changes to working practices

Danske Bank has seen the value of remote working during the unplanned proof of concept triggered by the Covid-19 pandemic Continue Reading

CaixaBank introduces facial recognition ATMs

Spanish bank broadens its use of facial recognition technology on cash machines Continue Reading

Bankers say artificial intelligence will separate winners and losers

The application of artificial intelligence at banks will be the difference between the ones that succeed and the ones that fail in the coming years Continue Reading

Businesses develop apps quickly to manage disruption of Covid-19

Healthcare companies, insurers, government agencies and big tech companies have used technology from Pegasystems to develop apps to manage the disruption caused by coronavirus Continue Reading

Coronavirus: Digital bank Monzo cuts 120 staff

Digital challenger Monzo has announced 120 job cuts as it navigates the current economic slowdown Continue Reading

CaixiaBank gets ready to modernise IT using IBM Cloud Pak

Spanish bank extends IBM relationship with the roll-out of Cloud Pak to modernise IT, which it says will allow it to innovate in quantum computing and blockchain Continue Reading

London Tech Week to go ahead through Zoom

London Tech week will go ahead next week, with the tech industry attending through Zoom Continue Reading

Dutch organisations invest heavily in compliance – but in vain

Despite the fact that companies in the Netherlands have invested heavily to comply with GDPR legislation introduced two years ago, 90% of them are still discovering fundamental weaknesses in their IT environment Continue Reading

Employees must be consulted on technologies monitoring the return to work

Experts say the workforce must be ‘in the room’ and given a meaningful say about technologies introduced to monitor their return to work following the Covid-19 pandemic Continue Reading

HSBC platform uses AI to analyse trading data thousands of times faster

HSBC is offering its US share trading customers artificial intelligence-powered insights into public information about listed companies Continue Reading

How Saudi Arabia is using cloud to navigate the Covid-19 downturn

Organisations in Saudi Arabia are using cloud computing services to help them navigate challenges caused by the coronavirus pandemic Continue Reading

UK fintech investment reaches record high

Huge increases in UK fintech investment over the past three years has seen the sector explode, but most of the activity is still concentrated in London Continue Reading

TSB Bank digitises banking forms in response to coronavirus lockdown

As part of its 2022 digital strategy, TSB has begun rolling out electronic forms designed in Adobe XD and processed using Adobe Sign Continue Reading

One-third of all bank jobs are now tech-related

The proportion of jobs in banks that are technology-related is growing quickly, accelerated further by the Covid-19 pandemic Continue Reading

Can Lady Gaga and Madonna get people to take IT security seriously?

In this week’s Computer Weekly, after hackers threatened to release data from a US law firm’s celebrity clients, will people finally take cyber security seriously? Designing software for older users makes systems better for all – we examine how. And the IT chief at TSB explains how the bank recovered from its 2018 IT disaster. Read the issue now. Continue Reading

Nordic fintechs urge financial literacy to be taken seriously before it’s too late

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Swedbank to rebuild anti-money laundering systems after damning report

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CW Nordics: Startups face tough decisions as coronavirus hits

Tech startups based in the Nordic region face difficult decisions as the Covid-19 pandemic leads to falling sales and investment. Also read why Swedbank is rebuilding its anti-money laundering systems, and how Nordic fintechs are developing apps to prevent more adults getting into financial difficulty. Continue Reading

Coronavirus: Dutch work on XR technology shows promise in pandemic scenario

Netherlands leads the way in the development of extended reality technology, which could prove its value in a crisis such as Covid-19 Continue Reading

Coronavirus: Bahrain sees fintech take-up surge amid Covid-19 crisis

Covid-19 has spurred the use of financial technology in Bahrain, which could boost the industry in the country and wider Gulf region Continue Reading

Coronavirus: Digital bank’s valuation falls as it seeks funds to ride Covid-19 storm

Monzo is seeking new investment to help it through the coronavirus pandemic Continue Reading

CW APAC: Trend Watch – business response to coronavirus

With countries the world over reeling from the Covid-19 coronavirus outbreak, which has meant sweeping changes both economically and socially, Computer Weekly looks at how firms in the Asia-Pacific region have adapted to what has so quickly become the new normal. Continue Reading

Coronavirus: Nearly £2bn of UK fintech investment lost so far

Investment into UK fintechs falls dramatically during Covid-19 pandemic as venture capitalists hold back Continue Reading

Deutsche Bank’s planned tech spend unaffected by global crisis

Deutsche bank is driving on with its ambitious IT investment plans, with the Covid-19 pandemic, if anything, adding fuel to it Continue Reading

Google-powered algorithm set to modernise insurance brokering

Algorithm, developed in conjunction with UCL, drives a Lloyd’s of London syndicate electronically Continue Reading

Coronavirus: Nationwide’s human expertise used to quickly build smart agent amid pandemic

Nationwide Building Society is the latest financial services company to quickly automate customer services related to Covid-19 Continue Reading

Banks failing to protect customers from coronavirus fraud

Just 13 of the 64 banks accredited for the government’s Coronavirus Business Interruption Loan Scheme have implemented Dmarc protection Continue Reading

CIO interview: Andrew Lennon, CIO, Barings, on Covid-19, data science and mergers

Forget rogue traders, Barings is still going strong, and the investment bank's CIO is leading the way with data science and other enabling technologies Continue Reading

Cash use to go below 5% of total spending in Middle East

Banks expect a rapid reduction of the use of cash in the region Continue Reading

End-users failing to protect themselves online

Remote workers and stuck-at-home consumers are taking silly risks with their security during the coronavirus pandemic, according to a report Continue Reading

Coronavirus: TSB develops smart agent to help staff during pandemic

TSB took just five days to design and implement a smart digital agent to answer customer questions during the Covid-19 pandemic Continue Reading

Coronavirus: UK finance regulator gives more time for payment security compliance

Financial Conduct Authority has extended the deadline for payment processors to meet payment security standard Continue Reading

NatWest Bank shutters its app based bank after five months

NatWest is closing its consumer-facing, app-based bank and increasing its focus on mobile business bank Mettle Continue Reading

No going back to packed workplaces after Covid-19

A recent project by IT service providers outlines how, in a post-coronavirus world, businesses like Barclays Bank will reduce their reliance on skyscrapers packed with people Continue Reading

Mobile banking customers at risk from new EventBot trojan

Customers of Barclays, HSBC, Santander and many other banks should be alert to a dangerous new trojan Continue Reading

Coronavirus: Cash use plummets during UK lockdown

Consumers are switching to digital payment methods amid the current global pandemic crisis Continue Reading

Coronavirus: Call for extension to European payment security standard deadline

Payment processors across Europe want more time to meet the SCA payment security standard Continue Reading

Covid-19 will decimate fintechs, but those that survive will prosper

The coronavirus will wipe out some fintechs, but those that get through it will share in the next growth phase of the industry's development Continue Reading

How likely are IT service providers to offer discounts in an unprecedented global recession?

As the global economy slows, businesses are trying to cut costs, with IT services one of the first stops – but what are the chances of a happy outcome? Continue Reading

Ransomware-stricken Travelex up for sale

Travelex’s parent Finablr is washing its hands of the ransomware-stricken forex provider as it struggles with the twin shocks of the Covid-19 pandemic and a developing fraud scandal Continue Reading

Nasdaq gives customers real-time data through cloud platform

US stock exchange uses public cloud and APIs to provide investment companies with real-time data on trading activity Continue Reading

Coronavirus: Banking and mobile sectors collaborate to stop text scams

Initiative aims to protect 50 genuine brands and government organisations from being impersonated by cyber criminals Continue Reading

Traditional banks need to do more than gloss over back-end systems with fintech paint

Banks need to work with fintechs if they are to prosper in the new world, but first they must update their back-end systems Continue Reading

Dutch organisations address business email compromise fraud

Public-private partnership in the Netherlands works to break the chains used by fraudsters to carry out BEC attacks Continue Reading

CaixaBank uses hybrid of conventional and quantum computers to classify risk

Spain's CaixaBank is using quantum computers as part of a project to assess risk using machine learning algorithms Continue Reading

Coronavirus: Cyber attacks on banks seen spiking, says Carbon Black

VMware’s Carbon Black observes a spike in cyber attacks on financial services organisations Continue Reading

Coronavirus: Lloyds Bank to give thousands of tablet devices to over-70s

Banking group is giving away tablets and basic digital training to help vulnerable customers stay connected during the UK’s Covid-19 lockdown Continue Reading

Apple and Netflix most imitated brands in phishing attacks

A new report highlights the brands which are being most frequently spoofed by cyber criminals in phishing attacks Continue Reading

IR35 private sector reforms: Blanket bans on limited company contractors hold firm despite deferral

While many firms have seized on the government’s decision to delay the roll-out of the IR35 reforms to rethink their approach, others are sticking by their decision to ban limited company IT contractors from their workforce Continue Reading

Coronavirus: Use of fintech apps in Europe accelerates

Fintech apps are being increasingly used by consumers as restrictions on their movements are put in place Continue Reading

Swedbank to rebuild anti-money laundering systems after damning report

Report finds that €36.7bn in transactions, all carrying a high risk for money laundering, were processed through the bank’s branch network in Estonia, Latvia and Lithuania Continue Reading

Gartner: Top-performing companies understand CX

Those businesses that measure customer experience, either through surveys, real-time analytics or the use of artificial intelligence, are more profitable Continue Reading

Insurance company uses artificial intelligence to assess car damage when claims are made

In the latest insurtech development, the UK arm of insurance company Ageas is using artificial intelligence to assess vehicle damage in accidents Continue Reading

Nordic fintechs urge financial literacy to be taken seriously before it’s too late

Fintechs in the Nordic region hope to prevent more adults getting into financial difficulty through apps that educate people about managing their finances at an early age Continue Reading

Norwegian banking app gives access to other banks’ accounts

Banking customers can access and make payments from their other bank accounts using the DNB Mobile Bank app Continue Reading

Coronavirus: Contactless spending limit increased to fight pandemic

Banking and financial services trade body UK Finance to increase spending limit for contactless payments to £45 from the start of April Continue Reading

Coronavirus: Fintechs create Covid Credit to help self-employed prove income loss

Financial technology professionals have created a tool that will support self-employed people claiming financial relief from the government during the Covid-19 pandemic Continue Reading

Interview: Jamil Farshchi, CISO, Equifax

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

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

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

Prudential turns to AI to secure computer networks against cyber attacks

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

Podcast: The Computer Weekly Downtime Upload – Episode 51

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

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

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

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

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

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

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

CIO interview: Miguel Rio Tinto, Emirates NBD

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

CW Europe: Experts examine Dutch government’s IT problems

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

Dutch landscape attracts fintech exploration

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

Fintech workers called to share their experiences of microaggression

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

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

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

VAT software supplier exposed data of millions

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

Lloyds Banking Group signs five-year Google Cloud deal

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

Bill Gates backs Crest fintech security scheme for Africa and Asia

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

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

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

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

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