IT for financial services
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News
12 Jun 2024
Nordic innovators look to revive the zombie subscriber population
Zombie subscriptions where customers buy a service and forget about it are harming the subscription economy, but software is being developed to support the subscription economy Continue Reading
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News
15 Jan 2024
Santander bank added 4,500 tech staff last year
Santander added thousands of IT staff to its global operation last year, as part of its digital transformation Continue Reading
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News
15 Sep 2021
Tech Nation announces second cohort for Net Zero accelerator
The Net Zero programme from Tech Nation aims to help tech startups and scaleups realise their potential to reduce global emissions Continue Reading
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News
15 Sep 2021
Nordic central banks drive fintech and digital currency
Banks are working together through a cross-border financial technology development hub Continue Reading
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News
14 Sep 2021
UK government takes equity shares in more than 150 startups
Covid-support loans given to startups through the UK government’s Future Fund have given it stakes in more than 150 high-growth enterprises Continue Reading
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News
14 Sep 2021
Cost of ransomware attack in financial sector exceeds $2m
Mid-sized financial services organisations worldwide spend an average of over $2m recovering from ransomware attacks Continue Reading
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13 Sep 2021
How high can the contactless card limit go without two-factor authentication?
The spending limit for contactless cards has reached an eyebrow-raising triple-digit figure – £100 – raising questions about the need for user authentication Continue Reading
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News
09 Sep 2021
UK GDPR faces changes under planned reforms
DCMS is launching a major consultation on proposed changes to the UK’s data protection regime, under which several key elements of the GDPR are likely to change Continue Reading
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News
08 Sep 2021
Stolen credit card data worth about £13 on dark web, PayPal worth more
The average price of a stolen credit card on a dark web marketplace comes in at around $17.40, or £12.60, according to new data – but the real money for cyber criminals is in hacked PayPal accounts Continue Reading
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News
07 Sep 2021
Banking anti-fraud scheme blocks 65% more fraud
Scheme designed to protect vulnerable people against banking fraud has been expanded to include online scams Continue Reading
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News
03 Sep 2021
China accused of cyber attacks on Norwegian IT systems
China-based cyber attackers have been blamed for multiple assaults on IT systems in Norway Continue Reading
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News
02 Sep 2021
How high can the contactless card limit go without two-factor authentication?
The spending limit for contactless cards has reached an eyebrow-raising triple-digit figure – £100 – raising questions about the need for user authentication Continue Reading
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News
02 Sep 2021
Finance firms faced up to £760,000 costs per DNS attack during pandemic
Financial services firms have been the focus of attacks by cyber criminals during the Covid-19 crisis Continue Reading
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News
01 Sep 2021
University of Sunderland applies technology through robot dog
Students will apply technologies such as artificial intelligence to robotic dog as part of their learning Continue Reading
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News
27 Aug 2021
Are proposed data protection changes a threat to UK citizens’ privacy?
Though changes are as-yet undefined pending an upcoming consultation, concerns are already being expressed over the government’s plan to liberalise data protection laws in the service of innovation and growth Continue Reading
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News
26 Aug 2021
Tech giants commit to Biden's cyber security action plan
Some of the world’s most prominent tech giants have made a series of commitments to enhance the US’ national cyber security posture following a high-profile meeting with president Biden Continue Reading
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News
26 Aug 2021
Government unveils post-Brexit data flow proposals
The government will pursue data partnerships with countries including Australia, South Korea and the US as part of a post-Brexit data regime that may also see substantial changes to the UK’s data protection law Continue Reading
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E-Zine
26 Aug 2021
CW Nordics: Klarna alumni energise Stockholm’s startup scene
Klarna, established in 2005, has not only grown into a well-known Swedish fintech brand, but former staff have gone on to create some of the Nordic region's new startup ventures that are currently riding a wave of growth. Find out more about the so-called ‘Klarna academy’. Also read in this issue why growing tech companies in Stockholm say the city's startup environment needs to diversify more. Continue Reading
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News
26 Aug 2021
NZ privacy lead John Edwards named new information commissioner
DCMS has named John Edwards, currently New Zealand privacy commissioner, to succeed Elizabeth Denham as UK information commissioner Continue Reading
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News
25 Aug 2021
UK loses £1.3bn to fraud and cyber crime so far this year
New figures from the National Fraud Intelligence Bureau show a threefold spike in reported financial losses to fraud and cyber crime in the first six months of 2021 Continue Reading
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Opinion
25 Aug 2021
Basel III: How fintech can provide allocated gold for banks
Banking rules that were over 10 years in the making as a response to the financial crisis have finally come into effect, marking a seismic shift for European banks and their dealings with gold – potentially completely altering the landscape of precious metal investment. Sylvia Carrasco, CEO of Goldex, explains Continue Reading
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News
24 Aug 2021
Half of MS Exchange servers at risk in ProxyShell debacle
Up to 50% of MS Exchange users in the UK are exposed to three vulnerabilities that are now being actively exploited Continue Reading
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News
23 Aug 2021
IBM unveils Telum to combat financial fraud in real time
Completely new architecture means the AI accelerator chip does not need to pass data to and from the main processor, PCI bus or operating system Continue Reading
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News
20 Aug 2021
Swedish IT industry braced for China’s response to Huawei 5G ban
Swedish IT and communications equipment suppliers fear economic backlash from China following Huawei ban Continue Reading
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News
19 Aug 2021
How Bet365 addressed Apple’s iOS App Store policy changes
Apps on the iOS app store need to be more ‘Apple like’, with a common user experience. We find out how Bet365 achieved app portability Continue Reading
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News
19 Aug 2021
Challenger banks make reputational gains in business banking
The business banking sector is a big target for digital challengers and some are already building good reputations in the market Continue Reading
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News
17 Aug 2021
What will be the bank branch balance in the digital age?
Will the traditional banks be permanently disadvantaged by the need to retain bank branches or could they turn it to their advantage? Continue Reading
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News
16 Aug 2021
NAB partners AWS, global banks on open finance
Australia’s NAB teams up with three other banks and AWS to run an open global finance challenge that will see participating teams prototype new digital banking services Continue Reading
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News
12 Aug 2021
Regulatory complexity hinders cloud adoption by financial services firms, Google study finds
Business leaders within the financial services space reveal details of what is holding up cloud adoption within their industry in latest Google poll Continue Reading
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News
11 Aug 2021
Hacker makes off with $600m in world’s largest crypto-heist
Despite bagging $600m worth of cryptocurrency in what has been described as the biggest decentralised finance hack, the hacker has already started returning the funds Continue Reading
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News
11 Aug 2021
Global fintech investments reach new heights
The global financial technology industry is emerging from the pandemic-triggered slowdown with record levels of investment to fuel further growth Continue Reading
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News
10 Aug 2021
Banks could be blocked from closing branches through FCA legislation
UK financial services regulator the Financial Conduct Authority considers legislation that could block some bank branch closures to ensure citizens have easy access to cash Continue Reading
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News
10 Aug 2021
Third of finance firms accelerate use of artificial intelligence to detect money laundering
Financial services firms are stepping up their use of artificial intelligence and machine learning technology to fight increasing money laundering activity Continue Reading
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News
10 Aug 2021
Dutch lead the way in protecting themselves against internet risks
Dutch citizens come top in a study on awareness of internet risks in Europe, which showed major differences across the continent Continue Reading
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News
28 Jul 2021
COP26 cyber resource hub launched for Glasgow businesses
New digital information hub for Glasgow business to help organisations keep secure both physically and online ahead of major climate change summit Continue Reading
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Opinion
28 Jul 2021
Security Think Tank: Consider cyber policies and procedures as you welcome employees back
With Covid-19 restrictions easing, offices are welcoming back remote workers this summer, bringing with them their notebooks and mobiles, and creating an endpoint management headache for CISOs. What do security teams need to account for to protect their returning office workers? Continue Reading
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News
27 Jul 2021
ICO ends its involvement in dispute between NatWest Bank and data breach whistleblower
The Information Commissioner’s Office has ended its involvement in a dispute between a data breach whistleblower and NatWest bank Continue Reading
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News
27 Jul 2021
Gaming could reduce the gamble for users of online finance
Financial gaming platform designed to educate the increasing number of amateur traders Continue Reading
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News
20 Jul 2021
Nordic banks join forces to compete with fintechs
Collaboration will be key for traditional Nordic banks to retain business amid intense competition from tech companies Continue Reading
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News
15 Jul 2021
Fintech sector continues to attract investment as Revolut hits $33bn valuation
Revolut has become the most valuable financial technology firm in the UK after its latest round of investment, with plans for a ‘superapp’ Continue Reading
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News
14 Jul 2021
EC approves pan-Nordic payments platform
Pan-Nordic payments platform will move to its next phase after receiving merger approval from the European Commission Continue Reading
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News
14 Jul 2021
More than half of European IT outsourcing spending will soon be on cloud services
Cloud services will soon be the largest part of the IT services market in Europe, as enterprises invest in them as part of their Covid-19 recovery strategies Continue Reading
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News
14 Jul 2021
Multiple Microsoft bugs being actively exploited
Microsoft’s July Patch Tuesday update fixes 117 vulnerabilities, 13 rated as critical and four already being actively exploited Continue Reading
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News
13 Jul 2021
AI to have biggest impact on fintech development over next five years
Artificial intelligence will become the most influential technology in the fintech sector over the next five years Continue Reading
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News
13 Jul 2021
Financial services sector’s cloud use set for more regulatory scrutiny on resilience grounds
Financial stability report by Bank of England’s Financial Policy Committee raises red flag about banks’ growing reliance on a small number of cloud service providers Continue Reading
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News
13 Jul 2021
Met Police seize £180m worth of Bitcoin
The largest ever seizure of cryptocurrency in the UK comes just weeks after a previous multi-million pound confiscation, as law enforcement clamps down on money laundering Continue Reading
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News
13 Jul 2021
UK fintech investments recovering from lost year
Fintech investments have bounced back in the first half of this year after a Covid-19-hit 2020 Continue Reading
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News
13 Jul 2021
Russia tightens pressure on global IT companies
Russian authorities will force certain IT companies with customers in Russia to open local offices Continue Reading
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Opinion
08 Jul 2021
Security Think Tank: Reopening is an opportunity to reassess wider security posture
With Covid-19 restrictions easing, offices are welcoming back remote workers this summer, bringing with them their notebooks and mobiles, and creating an endpoint management headache for CISOs. What do security teams need to account for to protect their returning office workers? Continue Reading
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News
07 Jul 2021
Former Bank of England CIO joins Co-op Group as CTO
Rob Elsey joins the Co-op Group at a time when the organisation is undergoing major digital transformation Continue Reading
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News
07 Jul 2021
Opportunists seen targeting Kaseya REvil victims
Malwarebytes researchers highlight new spam campaign targeting businesses impacted by the ongoing Kaseya REvil ransomware incident Continue Reading
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News
06 Jul 2021
Bank of England searches for new CIO amid once-in-a-generation project
The Bank of England is recruiting a head of IT during a period of major change in its core IT system Continue Reading
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News
06 Jul 2021
Klarna under investigation by Swedish finance watchdog
Swedish fintech is being investigated by financial services regulator after customer information was visible to others Continue Reading
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News
06 Jul 2021
Cyber insurance costs up by a third
The frequency and severity of ransomware attacks is a leading factor behind a substantial increase in the cost of obtaining cyber security insurance Continue Reading
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News
06 Jul 2021
Gulf hospitals flock to digital health to manage lifestyle diseases
The Middle East is accelerating its take-up of digital healthcare technologies following lessons learned in the Covid-19 pandemic Continue Reading
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News
06 Jul 2021
Nordic fintech could lead the world
Will the Nordics become the fintech and open banking innovation capital of the world? Continue Reading
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News
05 Jul 2021
Quarter of UK financial services staff want to continue working from home
Working from home looks set to stay in the finance sector after Covid-19 restrictions are lifted, as staff express their preferences for remote working Continue Reading
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News
05 Jul 2021
Klarna’s alumni thrive with new ventures after witnessing path to success
Former Klarna employees are using their experiences with the fintech giant to create the next wave of Swedish tech startups Continue Reading
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News
02 Jul 2021
Should I be worried about PrintNightmare?
The accidental publication of proof of concept code for a Windows vulnerability, and the reclassification of said bug from low to critical severity, has the cyber community concerned. Is it right to be? Continue Reading
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News
01 Jul 2021
Nordic mobile wallets to merge onto single tech platform
Plans underway to merge the mobile wallets of various Nordic banks into a single public cloud-based technology platform Continue Reading
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News
01 Jul 2021
US Cybersecurity and Infrastructure Security Agency launches ransomware assessment tool
Newly launched service will help US organisations understand how prepared they are to deal with a ransomware attack Continue Reading
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News
01 Jul 2021
NHS IT fraudster Barry Stannard sentenced to five years in prison
Stannard used his position as head of unified communications at an Essex NHS Trust to cheat the taxpayer of more than £800,000 Continue Reading
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News
29 Jun 2021
Bank branches will be a thing of the past in five years, say bankers
Traditional bank branches are likely to disappear from the high street in the next five years, but banking ecosystems will ensure customer service levels are high, say bankers Continue Reading
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News
29 Jun 2021
New Nobelium attacks a reminder to attend to cyber basics
A new campaign from the same threat group that broke into SolarWinds serves as a reminder that cyber crime gangs will try to exploit any avenue they can, even if technically unsophisticated Continue Reading
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News
29 Jun 2021
UK Cyber Security Council launches inaugural initiatives
Security association seeks to determine terms of reference for committees to oversee standards and ethics, and qualifications and careers in the cyber sector Continue Reading
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Opinion
29 Jun 2021
How Covid-19 accelerated cloud investment in the financial world
Cloud computing is no longer a thing of the future for banks that want to remain competitive Continue Reading
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Opinion
29 Jun 2021
Banking tech fraud: How to trace and recover your money
Even when stolen assets are sent offshore, the special powers of the English civil court system mean all may not be lost Continue Reading
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News
28 Jun 2021
Insurers unprepared for challenges of underwriting ransomware
RUSI think tank calls for an industry-wide reset amid intense challenges for providers of cyber security insurance Continue Reading
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News
28 Jun 2021
Zopa Bank to make profit in its first year
Bank set up by peer-to-peer lending fintech firm expected to make a profit in its first year Continue Reading
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News
28 Jun 2021
UK’s FCA bans crypto exchange Binance as crackdown spreads
Ban on Binance Markets comes amid a wider global crackdown on the largely unregulated global market for cryptocurrencies and related assets. Continue Reading
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News
28 Jun 2021
German merger to fuel savings fintech expansion
German savings fintechs merge and plan European and US expansion Continue Reading
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News
28 Jun 2021
HMRC-branded phishing scams surge despite protections
The number of HMRC-branded phishing scams surged 87% in the past 12 months, according to latest revealed figures Continue Reading
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News
25 Jun 2021
Brighton tourists charged thousands of pounds for fairground ride after Worldpay glitch
Tourists at a Brighton attraction were overcharged by thousands of pounds due to a glitch at payment processor Worldpay Continue Reading
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News
24 Jun 2021
Visa to acquire Swedish open banking fintech for €1.8bn
Payments giant Visa agrees to pay €1.8bn to acquire Tink, a specialist open banking fintech Continue Reading
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News
24 Jun 2021
Revealed: Crypto platform’s role in Cl0p ransomware raid
Crypto infrastructure provider Binance provided assistance to law enforcement after finding its exchange was being used by cyber criminals to launder their ransomware profits Continue Reading
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News
24 Jun 2021
Oracle signs multi-year database modernisation deal with Deutsche Bank to support its cloud plans
Database software giant signs a deal with Deutsche Bank to support the financial services company’s ongoing hybrid cloud-focused digital transformation plans Continue Reading
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News
24 Jun 2021
Lloyds Bank to close 44 more branches
Banking group has announced the closure of a further 44 branches as customers increasingly use other channels for banking Continue Reading
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News
24 Jun 2021
Make ransomware payments illegal, say 79% of cyber pros
Report produced for MSSP Talion claims overwhelming support for the criminalisation of ransomware payments Continue Reading
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News
16 Jun 2021
Contactless payments accounted for a quarter of all UK payments in 2020
Restrictions in everyday life brought by the Covid-19 pandemic fuelled an increase in the use of contactless payment technology during 2020 Continue Reading
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News
15 Jun 2021
Japanese bank boss to leave after IT failures
Mizuho Bank president takes the blame for widespread IT system failures at the organisation Continue Reading
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News
11 Jun 2021
IR35 tribunal sees Nationwide IT contractor lose second appeal against £70,000 HMRC tax bill
Tribunal dismisses second appeal by IT project manager Robert Lee that his contracts with Nationwide would fall out of scope of the IR35 legislation Continue Reading
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News
10 Jun 2021
Risk data shows UK energy sector most vulnerable to cyber attack
New report compiled by insurance firm Hiscox reveals the state of cyber preparedness in the UK and beyond Continue Reading
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E-Zine
10 Jun 2021
CW Europe: Amsterdam reins back datacentre developments over environmental concern
The construction of datacentres in the Netherlands’ Amsterdam region has accelerated at such a pace that their demands for electricity are causing concern, prompting city authorities and datacentre operators to open a dialogue about sustainable datacentre industry expansion. Also in this issue, find out the state of play in the adoption of open banking across Europe. Continue Reading
- 09 Jun 2021
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News
09 Jun 2021
RSA spins out fraud and risk unit as Outseer
RSA Security is transitioning its fraud and risk intelligence work into a new business to be called Outseer Continue Reading
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News
09 Jun 2021
BBVA to cut 3,000 jobs in Spain as digital technology transforms industry
Spanish bank is the latest to announce swingeing branch and job cuts amid increased digital competition Continue Reading
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News
09 Jun 2021
Klarna takes on UK credit card providers with feature that breaks up online payments
Fintech unicorn introduces feature to its app in the UK which will challenge traditional credit card providers Continue Reading
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News
07 Jun 2021
Bank of England calls for feedback on digital currencies
The UK financial services regulator is calling for feedback from organisations, including tech firms, on the use of cryptocurrency Continue Reading
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News
04 Jun 2021
HSBC offers all businesses scam awareness app
HSBC is sharing information on the latest scams and how to defend against them thorough its latest app, available to all businesses Continue Reading
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News
03 Jun 2021
Swedish university is behind quantum computing breakthrough
Chalmers University of Technology simplifies the process of measuring the temperatures of quantum computers during complex calculations Continue Reading
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News
01 Jun 2021
Ex-IT manager stole over £800,000 from NHS trust
A former senior IT manager at an Essex NHS trust has pleaded guilty to defrauding his employer out of more than £800,000 Continue Reading
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News
31 May 2021
Great Eastern doubles down on data analytics
Singapore insurer Great Eastern has started a centre of excellence to drive adoption of data analytics and hone its capabilities in data governance and data engineering Continue Reading
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E-Zine
27 May 2021
CW Nordics: Denmark takes a top-down approach to gender equality in tech entrepreneurship
Tech Nordic Advocates has adopted a new approach to closing the gender gap in Danish technology startups, looking to emulate Canada’s top-down approach. Also in this issue, find out the state of play with the adoption of open banking in Europe. Continue Reading
- 26 May 2021
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News
26 May 2021
Millions of pounds lost to crypto fraud on social media
More than £63m has been lost nationally by victims of investment fraud via a social media platform, says Action Fraud Continue Reading
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News
20 May 2021
Credit Suisse to recruit more than 1,000 tech staff in India
Credit Suisse is hiring more IT professionals in India to supports its plan to develop a global tech hub Continue Reading
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News
19 May 2021
India’s HCL to hire 1,000 tech professionals in the UK
Indian IT suppliers set to create thousands of IT jobs in the UK, which supports their intention to have more staff based closer to customers Continue Reading
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News
19 May 2021
Barclays first bank to publish online scam refund details
All banks must be transparent about the proportion of victims of authorised push payment fraud they refund, says consumer rights organisation Which? Continue Reading
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News
18 May 2021
Post Office Horizon inquiry set to be given statutory status with wider powers
The government inquiry into the Post Office Horizon scandal is set to be made statutory with the power to call witnesses under oath and compel provision of evidence Continue Reading
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News
18 May 2021
Shift to digital remittances helps sector retain transaction value
Global remittance volumes and value was more resilient than expected over the past year, partly as a result of the take-up of fintech services Continue Reading
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News
18 May 2021
Santander says sorry for weekend tech outage
Bank’s customers were unable to access multiple banking channels because of technical problems Continue Reading
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Opinion
14 May 2021
The shape of fraud and cyber crime: 10 things we learned from 2020
While a pandemic-driven increase in cyber crime and an exacerbation of existing fraud trends were, to a large extent, to be expected, the LexisNexis Risk solutions UK cybercrime report 2020 still contained a few surprises Continue Reading
