IT for financial services

Zopa bank profitable after just 21 months

The bank that emerged from peer-to-peer lending pioneer has hit its first profit after 21 months of operation Continue Reading

Saudi Arabian ICT sector hits $32.1bn after strong pandemic response

The Saudi Arabian IT and communications sector is recovering strongly from the Covid-19 pandemic Continue Reading

Environmental campaigners halt Meta datacentre construction in the Netherlands

Datacentre being built to serve ‘metaverse’ worlds would consume nearly half as much energy as all other datacentres in the country Continue Reading

Four moves to ‘checkmate’ critical assets thanks to lax cloud security

Malicious actors can compromise 94% of critical assets within four steps of the initial breach point, according to a report Continue Reading

Bank fraud prevention scheme blocked £60m in fraud last year

Scheme to catch fraudsters, including online scammers, before they commit their crimes has reported a significant increase in crimes prevented Continue Reading

Why diversity in AI remains a challenge and how to fix it

With artificial intelligence set for a global economic explosion, its development must put diversity at its core to avoid discriminating systems Continue Reading

Acquisition of UK fintech Azimo will address home-working challenges for enterprises

UK fintech acquired by Papaya Global is looking to improve cross-border employee payments Continue Reading

Lax money laundering controls lands N26 with ban from Italian central bank

German digital bank N26 has had problems with anti-money laundering regulations in the past, and is now banned in Italy Continue Reading

One-third of UK firms suffer a cyber attack every week

New statistics from the annual DCMS Cyber security breaches survey reveal the extent and frequency with which UK organisations are being attacked by malicious actors Continue Reading

Recruitment risks: Avoiding the dangers of fraudulent candidates

Tech companies are seeing an increase in fraudulent job applications, with associated impacts on risk and cyber security. So how can organisations protect themselves from fraudulent applicants while ensuring they recruit the best talent? Continue Reading

NCSC: Not necessarily wise to ditch Kaspersky

UK’s National Cyber Security Centre issues refreshed guidance on organisations’ usage of technology and services of Russian origin, but stops short of advising users to expunge all Russian products from their IT estates Continue Reading

Wave of Log4j-linked attacks targeting VMware Horizon

Sophos issues a new warning to organisations that have so far failed to patch their VMware Horizon servers against Log4Shell Continue Reading

FCA reports 52% jump in security incidents

The Financial Conduct Authority received 116 cyber incident reports in 2021, a fifth of them involving ransomware Continue Reading

IT professionals wary of government campaign to limit end-to-end encryption

Members of the Chartered Institute of IT, the professional body for technology professionals in the UK, warn against limiting end-to-end encryption Continue Reading

Most big businesses are taking up banking as a service

API-based banking services allow corporate customers to offer financial services without the need for heavy tech development or regulatory approval Continue Reading

CW Innovation Awards: How WLTH is disrupting traditional banking

The fintech company built its own technology stack that delivers data analytics and other capabilities as it seeks to win market share from traditional banks Continue Reading

Digital continues to deplete bank branch networks as Lloyds cuts 60 more

Lloyds Banking Group has stripped UK high streets of a further 60 branches as the take-up of digital banking continues Continue Reading

Japan’s Mizuho partners Google to accelerate tech transformation after a year to forget

Following a year when it hit the tech headlines for the wrong reasons, Mizuho is on a mission to modernise IT in collaboration with Google Continue Reading

Details of Conti ransomware affiliate released

Information about a new Conti affiliate has been released by eSentire and BreakPoint Lab after a joint investigation into the group’s indicators of compromise Continue Reading

Competition watchdog contacts Barclays and Lloyds banks over API failures

Barclays and Lloyds banks have failed to meet some of the open banking rules, says competition watchdog Continue Reading

Revised scope of UK security strategy reflects digitised society

The omission of the word ‘security’ from the title of the UK government’s new National Cyber Strategy is a telling one, reflecting our increasingly digitised society, say Maximillian Brook and Arunoshi Singh of the ISF Continue Reading

One year on from IR35 reforms – why IT skills are harder to find

In this week’s Computer Weekly, a year after IR35 tax reforms were introduced, we assess the impact on the UK’s IT talent pool – and it’s not looking good. We examine the rise of industry clouds, and how they are changing the market. And we find out how London councils plan to work together on data and innovation. Read the issue now. Continue Reading

UK Cyber Strategy a welcome injection of progress

The National Cyber Strategy should be seen as a welcome injection of both focus and investment in bettering cyber defence for everyone, says Turnkey Consulting senior consultant Louise Barber Continue Reading

Ukrainian cyber defences prove resilient

Thanks to a combination of prior experience and global support, Ukraine’s defences against cyber incidents are holding strong in the face of Russian attacks Continue Reading

National Cyber Strategy will enhance UK’s cyber power status

The UK punches above its weight when it comes to wielding cyber power around the world, but challenges to this status are clear. The National Cyber Strategy has a clear role to play in maintaining and enhancing this status, writes Paddy Francis of Airbus Cybersecurity Continue Reading

How multiphysics simulation might accelerate the advent of quantum computing – and vice versa

Sophisticated tools that simulate more than one physical phenomenon at a time may help designers home in on optimal architectures for quantum computers at less cost – and much faster Continue Reading

Value of contactless transactions doubles in two years

Almost £166bn was spent in the UK last year using contactless technology, compared with £80.5bn in 2019 Continue Reading

Estonian anti-money laundering software pilot reaps benefits

Estonian startup and local banks have successfully piloted a data-sharing platform that prevents money laundering Continue Reading

German authorities warn on Kaspersky but stop short of ban

Germany authorities warn Kaspersky users to consider alternatives to the firm’s flagship antivirus software, citing national security concerns and the war on Ukraine Continue Reading

No end to UK bank branch closures as HSBC shuts 69 more

HSBC closes another 69 branches as customers continue to migrate to digital channels Continue Reading

How cyber security teams can conquer the four-day working week

The four-day week may be an idea whose time has come, but for always-on cyber security professionals, the impact of squeezing more work into fewer days is a tricky proposition Continue Reading

How can I avoid an exodus of cyber talent linked to stress and burnout?

Cyber security professionals have played a crucial role during the pandemic, yet many feel like their employers aren’t providing adequate mental health support and have considered quitting their jobs as a result. What can employers do to help them? Continue Reading

‘Technical issues’ leave Post Office branches with ATM cash discrepancies

Discrepancies of up to £2,000 reported after an ‘IT change’ impacted more than 200 Post Office branches Continue Reading

BNP Paribas to recruit 1,000 more women in IT

Spanish bank sets target of adding 1,000 more female IT professionals to its workforce over the next two years Continue Reading

National Cyber Strategy misses the mark in one important way

The National Cyber Strategy is full of fine words, says Petra Wenham, but as the old expression goes, fine words butter no parsnips, and it misses the mark in one very important way Continue Reading

Open banking’s next big thing could replace direct debits

Variable recurring payments could fuel the next stage of open banking take-up in the UK Continue Reading

Tech brands sign on to HackerOne responsible security drive

Tech companies sign HackerOne’s new corporate security responsibility pledge to bring cyber out of the shadows and promote effective, secure development practices Continue Reading

CW Europe: Luxembourg sees big role in global fintech market

Read about Luxembourg’s aim to play a larger role in the rapidly growing global financial technology market. Also find out how a Siri-like digital assistant will automate the completion of government service requests in Estonia, and how drones can get life-saving equipment to heart attack victims in Sweden before emergency services can arrive on the scene. Continue Reading

Fintech players get cosy in Luxembourg

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Government to force tech firms to stop fraudsters using their platforms for scams

Changes to legislation will make social media and search engine firms responsible for preventing fraudsters using their platforms to commit crimes Continue Reading

China’s APT41 exploited Log4j within hours

APT41 compromised multiple government organisations via the Log4Shell exploit within hours of its initial disclosure, Mandiant claims Continue Reading

Microsoft serves up three zero-days on March Patch Tuesday

Three zero-days pop up in Microsoft’s March update, along with a number of other noteworthy concerns for defenders Continue Reading

Boardroom does not see ransomware as a priority

Less than a quarter of company directors think ransomware is a top priority for their security teams, according to Egress Continue Reading

Gothenburg University makes breakthrough in energy efficient computers

Swedish and Japanese universities make advancement in the development of computers that can work as energy efficiently as a brain Continue Reading

Middle East IT spending to recover to at least pre-pandemic levels

Middle East IT leaders expect budgets to increase this year, with spending to match or exceed pre-Covid levels Continue Reading

Software firm saves storage array costs with Nutanix hyper-converged

Banking SaaS provider Vialink needed more IOPS when its NetApp arrays slowed up, but Nutanix hyper-converged proved a better package than Pure Storage and Dell EMC, too Continue Reading

Nationwide suffers payday payments outage

Nationwide customers were left unable to pay bills on payday as the building society suffered a software outage Continue Reading

The British people are waking up to the scandal that happened under their noses

Victims of the Post Office Horizon scandal have been suffering in silence for many years, but the current public inquiry is giving them a voice, and people are listening Continue Reading

Ukraine cyber attacks seen spiking, but no destructive cyber war yet

While cyber attacks linked to Russia’s war on Ukraine are taking place, they are having little impact beyond the region Continue Reading

Cracking the code on blockchain and crypto: What might adoption mean for datacentres?

A high share of datacentre customers look set to adopt blockchain technologies, including digital currencies, over the next few years Continue Reading

KnowBe4 cyber drama tackles Colonial Pipeline in fourth season

KnowBe4’s ongoing cyber security training drama, The Inside Man, reaches its fourth season with a plot drawing inspiration from one of the most impactful cyber attacks of 2021 Continue Reading

Russia behind dangerous Cyclops Blink malware

Joint NCSC CISA advisory attributes a dangerous malware, dubbed Cyclops Blink, to Russia’s Sandworm APT, likely a GRU unit, with WatchGuard users at particular risk Continue Reading

Microsoft extends Defender umbrella to Google Cloud Platform

Redmond says extending Defender for Cloud native capabilities to the Google Cloud Platform will help simplify security for organisations pursuing multicloud strategies by eliminating the gaps where the bad guys can get in Continue Reading

Backups ‘no longer effective’ for stopping ransomware attacks

Traditional methods of mitigating ransomware are less efficacious thanks to the rise in double and triple extortion techniques Continue Reading

No imminent cyber threat to UK from Russia

Intelligence officials say they have no evidence or indication that Russian cyber attackers are preparing offensive assaults on infrastructure or organisations in Britain Continue Reading

Attempted burglary exposes risk of NatWest customer data in former worker’s home

Former Royal Bank of Scotland employee offers bank a compromise in her dispute over the return of confidential customer information Continue Reading

UK organisations swift to chide phishing victims

While UK organisations are doing better at security training, many are quick to punish employees who fall victim to phishing attacks, whether real or simulated Continue Reading

Security Think Tank: Good training is all about context

In-house or outsourced? What makes a good security training programme, and what questions should buyers ask when procuring training as a service? Continue Reading

Sweden completes phase two of e-krona pilot

Sweden’s central bank is well into its second year of testing a new digital currency, but so far, no firm decision has been made by the government to adopt it Continue Reading

UK joins US in pinning Ukraine DDoS attacks on Russia

A series of DDoS attacks on Ukrainian defence and banking organisations last week is now being firmly attributed to Russian action Continue Reading

Open banking surpasses five million UK customers

Upwards of five million people in the UK are using open banking services as the financial sector’s fintech revolution gathers pace Continue Reading

Amazon and Visa resolve UK credit card ban threat

Companies reach ‘broad, global agreement that includes the acceptance of Visa at all Amazon stores and sites’ Continue Reading

UK organisations untroubled by Trickbot surge

A surge in Trickbot infections is targeting some of the world’s most prominent brands, but UK organisations seem thankfully unaffected Continue Reading

CIO interview: Adam Miller, group head of IT, Markerstudy Group

The insurer and Auto Windscreens owner is using cloud-based virtual desktops to ease acquisitions and support home working during the pandemic – and its IT chief has a growing range of projects on the go Continue Reading

The British people are waking up to the scandal that happened under their noses

Victims of the Post Office Horizon scandal have been suffering in silence for many years, but the current public inquiry is giving them a voice, and people are listening Continue Reading

2021 another record year for UK cyber investment

Total revenue generated by the UK’s cyber sector was up 14% last year, and UK-registered security firms raised over £1bn in investment Continue Reading

DDoS attacks hit Ukrainian defence ministry and banks

A further wave of cyber attacks has taken place against targets in Ukraine amid heightened tension in the region Continue Reading

Nordic countries lack a unified approach to AI

Nordic countries need to work together on a pan-regional artificial intelligence strategy Continue Reading

UK finance regulator effects changes to ‘buy now, pay later’ contract terms

BNPL finance providers have agreed to make their contracts with consumers fairer, amid concerns Continue Reading

NatWest group shutters 32 more branches as digital shift continues

Banking group announces more branch closures as part of its digital transformation, but promises that no customers will be left behind Continue Reading

China emerges as leader in vulnerability exploitation

Threat actors linked to China are emerging as a significant force in the weaponisation of newly discovered CVEs Continue Reading

Why security professionals should pay attention to what Russia is doing

Even though the average organisation is an unlikely target for a Russian state cyber attack, here's why security teams still need to watch what Russian threat groups are up to Continue Reading

IR35 reforms: HMRC slammed for ‘over-collecting tax’ from non-compliant public sector bodies

HMRC has moved to play down claims it is collecting more tax than it is due when tackling non-compliance with the IR35 reforms in the public sector Continue Reading

Phishing tests are a useful exercise, but don’t overdo it

The vast majority of cyber attacks start with a phish, so it’s not surprising that phishing tests form part of cyber training plans. But sometimes these tests go too far. Cyberis’ Gemma Moore looks at how to avoid the pitfalls Continue Reading

UK second in money laundering hall of shame

Banks need to step up their anti-money laundering processes if billions of pounds’ worth of criminal activity is to be prevented Continue Reading

Linux-based clouds an open door for attackers, says VMware

Its prevalence as a cloud operating system means Linux is becoming a meal ticket for malicious actors, but the security industry does not seem to have cottoned on to this yet, says VMware Continue Reading

Ransomware ever more sophisticated and impactful, warns NCSC

UK’s National Cyber Security Centre teams up with US and Australian partners in a joint advisory warning organisations of the increasing sophistication exhibited by criminal ransomware gangs Continue Reading

Microsoft stomps on 48 bugs in February Patch Tuesday update

It’s a light Patch Tuesday for February 2022, as Microsoft issues fixes for just 48 CVEs, including a solitary zero-day Continue Reading

Microsoft to start blocking macros to thwart malware

Microsoft is making changes to web macro permissions across multiple Office apps to help improve user security Continue Reading

The Security Interviews: Building the UK’s future cyber ecosystem

As the government lays out the next iteration of its Cyber Security Strategy, we speak to Plexal and Lorca’s Saj Huq about his work building a cyber ecosystem to support the UK’s future ambitions Continue Reading

UK fintech investment sees sevenfold increase in a year

UK fintech investment rose from $5.2bn in 2020 to $37.3bn in 2021, with 603 private equity, venture capital and merger and acquisition deals Continue Reading

UAE chooses Accenture to develop national payments platform

Consortium led by Accenture to build new payments infrastructure in the United Arab Emirates Continue Reading

Security Think Tank: How to build a human firewall

In-house or outsourced? What makes a good security training programme, and what questions should buyers ask when procuring training as a service? Continue Reading

Zero-trust to soar in 2022, but dogged by implementation challenges

IT leaders are keen to invest in zero-trust, but face issues around a lack of expertise, and selling the concept into the C-suite Continue Reading

Nationwide Building Society streamlines digital onboarding through API

Building society is improving its digital onboarding process through application programming interface-based technology from a US startup Continue Reading

MPs call on government to ‘push harder’ and ‘act faster’ amid online fraud epidemic

MPs on the Treasury Committee want the government to act quickly to reduce the amount of money being stolen through online fraud Continue Reading

What neurodivergent people really think of working in cyber security

Many firms are filling cyber security skills gaps by hiring neurodivergent talent – but more support is needed for neurodivergent cyber security professionals, writes autistic tech journalist Nicholas Fearn Continue Reading

Saudi Arabia to invest billions of dollars in technology and startups

Saudi Arabia announces $6.4bn investment in its tech sector as part of plans to diversify its economy Continue Reading

Check Point buys Spectral to safeguard cloud development

Check Point’s latest acquisition of Israel-based startup Spectral expands its developer-centric security toolset Continue Reading

Over one-fifth of ransomware attacks target financial sector

Newly published data reveals a significant uptick in cyber attacks against the financial services sector during the third quarter of 2021 Continue Reading

UK has record year for tech IPOs in 2021

Tech companies represented 29% of all UK initial public offerings last year, raising a record $6.6bn Continue Reading

Understand your cyber training ‘need’ before committing to a programme

In-house or outsourced? What makes a good security training programme, and what questions should buyers ask when procuring training-as-a-service? Continue Reading

Cyber skills gap affecting data privacy practice, finds ISACA

Organisations are struggling to fill both legal and technical privacy roles, with potentially damaging consequences, according to a report Continue Reading

CISOs must get out in front of Ukraine cyber crisis, says NCSC

The National Cyber Security Centre is urging UK organisations to take steps to bolster their cyber security resilience in response to the ongoing Ukraine crisis Continue Reading

Novel phishing campaign highlights need for MFA, says Microsoft

Microsoft details a new multi-stage phishing campaign that only affects victims without multifactor authentication in place Continue Reading

Barclaycard customers increase contactless spending following limit rise

Barclaycard customers have increased their contactless card spending by 40% with most of their card payments using the technology Continue Reading

Nightmare Log4Shell scenario averted by prompt, professional action

Prompt and professional community response to the Log4Shell disclosure means the dangerous and widespread vulnerability has not been exploited to the extent many had feared Continue Reading

Bank account switching accelerates as consumers choose digital services

Surge in UK consumers changing current account providers is a sign that digital banking services are eating into the traditional sector Continue Reading

Security Think Tank: Focus on ‘nudging’ to build effective cyber training

In-house or outsourced? What makes a good security training programme, and what questions should buyers ask when procuring training-as-a-service? Continue Reading

Mr 500,000 Chips

We recently saw a TikTok of the new guy on Dragons’ Den explaining the virtues of obtaining enough money to own a private jet: to maximise the number of what he refers to as his 500,000 chips – the ... Continue Reading