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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E-Zine
22 May 2020
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
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News
21 May 2020
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
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News
20 May 2020
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
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News
15 May 2020
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
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E-Zine
14 May 2020
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
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News
14 May 2020
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
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News
14 May 2020
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
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News
13 May 2020
Google-powered algorithm set to modernise insurance brokering
Algorithm, developed in conjunction with UCL, drives a Lloyd’s of London syndicate electronically Continue Reading
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News
12 May 2020
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
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News
12 May 2020
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
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News
06 May 2020
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
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News
06 May 2020
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
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News
06 May 2020
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
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News
05 May 2020
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
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News
04 May 2020
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
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News
04 May 2020
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
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News
01 May 2020
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
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News
30 Apr 2020
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
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News
29 Apr 2020
Coronavirus: Cash use plummets during UK lockdown
Consumers are switching to digital payment methods amid the current global pandemic crisis Continue Reading
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News
29 Apr 2020
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
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News
28 Apr 2020
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
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News
24 Apr 2020
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
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News
23 Apr 2020
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
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News
23 Apr 2020
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
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News
22 Apr 2020
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
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News
22 Apr 2020
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
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News
20 Apr 2020
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
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News
20 Apr 2020
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
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News
16 Apr 2020
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
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News
15 Apr 2020
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
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News
14 Apr 2020
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
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News
08 Apr 2020
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
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News
01 Apr 2020
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
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News
01 Apr 2020
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
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News
31 Mar 2020
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
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News
31 Mar 2020
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
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News
26 Mar 2020
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
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News
24 Mar 2020
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
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News
24 Mar 2020
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
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News
24 Mar 2020
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
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News
23 Mar 2020
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
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News
19 Mar 2020
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
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News
18 Mar 2020
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
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Podcast
18 Mar 2020
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
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News
18 Mar 2020
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
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News
17 Mar 2020
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
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News
13 Mar 2020
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
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News
12 Mar 2020
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
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E-Zine
12 Mar 2020
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
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News
12 Mar 2020
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
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News
11 Mar 2020
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
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News
11 Mar 2020
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
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News
10 Mar 2020
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
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News
10 Mar 2020
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
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News
09 Mar 2020
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
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News
05 Mar 2020
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
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Opinion
03 Mar 2020
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
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News
02 Mar 2020
HMRC CEO denies it is ‘deliberately misleading’ public over loan scheme promoter arrests
HMRC CEO Jim Harra has “strongly rejected” claims made on social media by the Loan Charge All Party Parliamentary Group of cross-party MPs that it is “deliberately misleading” the public about its recent loan scheme-related enforcement activities Continue Reading
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News
02 Mar 2020
Nordic lessons on digital transformation
Swedish financial services firm reports a successful IT outsourcing project with India-based IT services company Continue Reading
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News
27 Feb 2020
Gove warns EU that UK sovereignty is non-negotiable on eve of trade deal talks
The UK and the EU have published their divergent mandates for trade talks due to start on Monday 2 March 2020, and digital may emerge as a long-term terrain of dispute Continue Reading
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News
27 Feb 2020
IR35 private sector reforms: Treasury review concludes no delay needed to April 2020 start date
Contracting groups describe HM Treasury’s highly anticipated review into the implementation of the IR35 reforms as “recklessly inadequate” as it concludes roll-out should proceed as planned Continue Reading
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News
26 Feb 2020
Thousands of UK entrepreneurs register businesses in Estonia since Brexit referendum
UK entrepreneurs are registering businesses in Estonia to make sure they can continue to trade freely in the EU Continue Reading
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News
25 Feb 2020
Mastercard creates 1,500 tech jobs in Ireland
New roles at tech hub in Dublin will include professionals with expertise in artificial intelligence, cyber security, blockchain and user experience Continue Reading
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News
24 Feb 2020
IR35 private sector reforms: First year of enforcement won't be ‘heavy-handed’, claims chancellor
New chancellor Rishi Sunak has moved to assure business leaders that HMRC will not be heavy-handed in enforcing the new IR35 rules Continue Reading
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News
19 Feb 2020
Refinitiv uses Google Cloud to revolutionise delivery of huge datasets
Financial data giant is expanding delivery of its services in the cloud, removing the need for customers to use hard disks and trucks to transport large datasets onsite Continue Reading
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News
19 Feb 2020
Swedish consumer-protection legislation will hit fintechs
New financial regulation to protect consumers from agreeing to unnecessary credit will force financial technology companies to make changes to their products Continue Reading
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News
17 Feb 2020
Mastercard opens European security resilience unit
Mastercard’s European Cyber Resilience Centre will bring together its partners and other industry bodies to support enterprise resilience Continue Reading
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News
12 Feb 2020
Brexit cited as reason for German digital bank’s UK exit
German challenger bank N26 leaves the UK, saying Brexit is the reason behind the decision due to the removal of passporting rights Continue Reading
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News
11 Feb 2020
Chinese military personnel accused of Equifax hack
A US federal grand jury has indicted four Chinese army personnel over the 2017 Equifax breach Continue Reading
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News
10 Feb 2020
Two-thirds of workers at risk of robot-driven redundancy are unaware of the threat to jobs
People who do jobs that are most likely to be automated through technology are unaware and unprepared of the impending threat to their livelihoods, with Nesta calling on the government to do more to up-skill those at risk Continue Reading
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News
09 Feb 2020
Australian government to roll out SAP S/4 Hana
Australia’s finance department earmarks S/4 Hana as its ERP system to provide common financial and HR services across government Continue Reading
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News
07 Feb 2020
IR35 private sector reforms: HMRC confirms last-minute tweak to incoming off-payroll rules
The government is rolling out a tweak to the IR35 private sector reforms that it claims will give businesses more time to prepare, but stakeholders are unconvinced Continue Reading
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News
07 Feb 2020
Goldman Sachs considers building cloud service to sell to other finance firms
Internal memo reveals that bank could provide an Amazon Web Services-like cloud service to financial services companies Continue Reading
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News
05 Feb 2020
Scammers using fake PayPal emails stole over £1m in the UK in last quarter
Fraudsters tricked Brits into sending over £1m worth of goods to them that they hadn't paid for Continue Reading
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News
04 Feb 2020
Azimo gets loan from European Investment Bank to build cross-border payments infrastructure in EU
UK fintech gets validation from EIB through €20m loan which will contribute to building its smartphone app-based payments infrastructure Continue Reading
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News
03 Feb 2020
New jobs in Ireland as Brexit forces Revolut to migrate work from London
Brexit has pushed the financial technology firm into moving London jobs to Ireland Continue Reading
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News
31 Jan 2020
Estonian CIO gives UK IT professionals hope as Brexit removes rights
Tech chief says Estonia’s door is open to UK IT professionals if they want to continue enjoying an EU lifestyle Continue Reading
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News
31 Jan 2020
UK police arrest three over Maltese cyber bank robbery
The NCA has made three arrests in Belfast and London following an investigation into money laundering linked to a cyber heist on a bank in Malta Continue Reading
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News
28 Jan 2020
Fintechs fear deepfake fraud
New research reveals the majority of CISOs working in the financial services sector are increasingly concerned about the potential use of deepfakes Continue Reading
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News
27 Jan 2020
LV= rolls out smart speaker skill
General insurance firm says customers will receive answers to commonly asked questions by invoking the skill on Alexa or Google Home Assistant Continue Reading
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News
24 Jan 2020
IR35 private sector reforms: Bank of America IT contractors await verdict on future employment terms
Despite notifying staff of its intentions to phase out contractors from its workforce in December 2019, IT contractors at the Bank of America are still awaiting clarification about what their future at the firm will look like, Computer Weekly has learned Continue Reading
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News
21 Jan 2020
Singapore updates model AI governance framework
Second edition of Singapore’s artificial intelligence governance framework includes new guidance, use cases and a self-assessment guide Continue Reading
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News
17 Jan 2020
IR35 private sector reforms: Blanket bans ‘devalue’ IT contractor contributions to digital projects
James Poyser, CEO of contractor-focused online accountancy firm InniAccounts, claims large firms that are failing to assess contractors fairly will lose out in productivity, reputation and talent retention Continue Reading
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News
16 Jan 2020
Lloyds Banking Group to create digital workplace with Microsoft
Bank is transforming how its staff work as part of a multibillion-pound digital transformation Continue Reading
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News
15 Jan 2020
TSB signs up IBM Services and announces Edinburgh tech hub
TSB has contracted IBM to provide hybrid cloud services as part of its £120m digital transformation plans, which will see more tech jobs in Scotland Continue Reading
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News
15 Jan 2020
Travelex warns customers to be alert to phone scams
Under-fire forex provider warns that criminals may try to take advantage of its predicament to scam customers Continue Reading
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News
15 Jan 2020
Gates Foundation mobile money projects in developing world to go live this year
Mobile money projects aim to give millions of the world’s poorest people access to financial services Continue Reading
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News
15 Jan 2020
Government distances itself from Post Office decisions in Horizon IT litigation
Department for Business, Energy & Industrial Strategy says it did not make decisions in the Post Office’s recent court battle Continue Reading
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News
15 Jan 2020
Royal Bank of Canada gives Mencap a ‘leg-up’ in automating processes
UK charity gets help from Canadian bank in a collaboration aimed at creating a robotic workforce Continue Reading
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News
13 Jan 2020
Travelex to begin restoring foreign exchange services two weeks after ‘Sodinokibi’ attack
Travelex says it is making “good progress” in its recovery and is to begin restoring electronic foreign exchange services, but is silent about whether it has agreed to pay hackers a $6m ransom to decrypt computer files Continue Reading
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Opinion
10 Jan 2020
Learning from the Travelex cyber attack: Failing to prepare is preparing to fail
The key lesson to take from the Travelex breach is that an effective response to a breach is a critical business function and no longer the sole province of the IT department Continue Reading
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News
09 Jan 2020
Travelex hackers threaten to sell credit card data on dark web
Sodinokibi cyber gangsters have threatened to sell Travelex customers’ private data on a Russian underground cyber crime forum if it fails to pay a $6m ransom Continue Reading
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News
09 Jan 2020
Don’t become the next Travelex: Get ready for ransomware
With Travelex’s IT still in disarray and banks and travellers left without access to funds more than a week after it was hit by a ransomware attack, we ask what others can learn from the foreign exchange services company’s response to the incident Continue Reading
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News
09 Jan 2020
PowerTrick backdoor used to target high-value businesses
Threat actors are exploiting a PowerShell-based backdoor called PowerTrick to go after high-value targets, warns SentinelLabs Continue Reading
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News
09 Jan 2020
Can fintech succeed where schools and parents have failed?
Young people in Britain are unprepared to manage their finances when they leave home and, as a result, many run into serious problems Continue Reading
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Opinion
08 Jan 2020
Why the banking industry needs an IT makeover
UK banks face huge challenges keeping their service availability levels at 99.99% Continue Reading
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News
06 Jan 2020
Cyber gangsters demand payment from Travelex after ‘Sodinokibi’ attack
Cyber criminals are demanding payment to decrypt Travelex’s computer files after a devastating malware attack. New questions have been raised about the security of Travelex’s computer network after it emerged the company waited eight months to patch vulnerable VPN servers Continue Reading
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05 Jan 2020
Holy grail of digital banking is, at first glance, a new channel, not a new concept
Details of Google’s plans in the financial services sector have emerged with nothing groundbreaking so far, but the sector is guessing what comes next. Continue Reading
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News
03 Jan 2020
Suspected ransomware attack causes worldwide disruption for Travelex
Travelex switches off computer systems and resorts to cash-only currency sales after malware attack. Insiders claim the currency exchange chain has been hit by ransomware which has left critical files containing customer data encrypted Continue Reading
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Feature
31 Dec 2019
How to optimise remote workforces while tackling loneliness
Remote working is very common in tech companies and IT departments. How can it be managed to optimise productivity and keep employees socially connected to their companies? Continue Reading