Lloyds Bank to use Workday software to help select staff for redundancy
admin Lloyds Banking Group will monitor its Workday HR software to help it select the lowest performing staff…
Finance
Number of UK banks reporting AI-driven productivity improvements doubles
The number of UK banks reporting productivity gains from artificial intelligence (AI) has doubled as projects move…
Scottish Widows completes migration of millions of accounts to TCS platform
Scottish Widows has moved 3.8 million customer accounts and pension data from multiple legacy systems to a…
Open banking take-up grows by a third
The use of open banking services in the UK has increased by a third in the past…
Meet the IT leader In Lebanon who became an IT entrepreneur
Asked for his advice as to whether it’s a smart idea to switch from being an IT leader…
Interview: Simon Goodyear, chief information and technology officer, Redwood Bank
As a youngster, Simon Goodyear believed there was nothing that couldn’t be solved with technology, and he…
Santander will make AI training mandatory for all staff in 2026
Banco Santander will introduce a mandatory artificial intelligence (AI) training programme for all its staff next year,…
UK state-owned bank goes cloud-native
The UK’s National Savings and Investments (NS&I) bank is replacing its legacy core banking system as part…
Interview: Kirsty Roth, chief operations and technology officer, Thomson Reuters
“Technology people just look at the problem differently,” says Kirsty Roth, chief operations and technology officer at…
Investing in diverse business could boost UK equity market
More investment in businesses led by women and ethnic minorities could increase the UK equity market by…
Monzo’s £21m fine highlights banks’ cyber security failures
Monzo’s recent £21m fine over customer verification failures highlights the cyber security and privacy shortcomings of popular…
UK loses second spot in global fintech to UAE
The UAE has leapfrogged the UK in the latest fintech market rankings, following a $2bn investment by…
The Bank of England’s quiet ‘Big Bang’
The Bank of England has completed the replacement of the UK financial system’s “beating heart”, and is…
Travelex replacing its software spine as part of cloud migration
Travelex is replacing multiple legacy core supply chain systems with an off-the-shelf alternative, as it seeks to complete…
Technology fuels successful FCA fight against unauthorised financial services
The Financial Conduct Authority (FCA) has shut down 1,600 websites and 50 finance apps through the use…
Irish bank rolls out AI tools to 10,000 staff
AIB is embedding artificial intelligence (AI) into business tools throughout the bank for 10,000 staff to free…
Zopa to embed into Manchester’s tech ecosystem
Zopa will tap into the tech ecosystem in Manchester through a regional office that could eventually house…
Digital workers at US bank to get their own email accounts
Artificial intelligence (AI) agents at the Bank of New York Mellon (BNY) have company logins, and will…
TSB faces another risky IT migration as Santander eyes UK bank
Santander’s proposed acquisition of TSB would require customer accounts to be migrated from the in-house developed system…
ING Bank transforming operations through agentic AI
ING Bank is currently amid multiple projects to improve its operations through the use of agentic artificial…
Interview: Developing a CIO strategy for artificial intelligence
When Chris Loake joined Hiscox in November 2023 as the company’s group information officer, the insurance firm…
Next phase of fintech reflected in strong financials, says World Economic Forum
Fintechs are growing customer bases at a lower rate, but profits and revenues are strong as the…
UBS employee data leaked after cyber attack on supplier
The details of about 130,000 UBS staff were leaked after a cyber attack on a procurement service…
Scattered Spider widens web to target insurance sector
Insurance companies are warned to be on their guard against a spreading campaign of network intrusions orchestrated…
West Brom Building Society project to meet customers’ digital demands
West Brom Building Society is embarking on a three-stage project to build the digital capabilities its customers…
UK finance regulator tie-up with Nvidia allows firms to experiment with AI
The UK’s financial services regulator has teamed up with Nvidia to provide an environment to enable finance…
Third-party security weaknesses threaten Europe’s big banks
Almost all (96%) of Europe’s largest financial services organisations have been affected by a security breach at…
Barclays rolls out Microsoft Copilot to 100,000 employees as AI adoption gathers pace
Barclays has signed an agreement with public cloud giant Microsoft that will see the latter’s generative artificial…
Citigroup cuts thousands of staff at China-based tech centres
Citigroup is “streamlining” tech support operations in China as part of a global restructure, with 3,500 roles…
Australia’s CommBank completes migration of data to AWS in AI drive
The Commonwealth Bank of Australia (CommBank) plans to accelerate the integration of artificial intelligence (AI) into its…
NCSC sets out how to build cyber safe cultures
Security leaders accustomed to the time-worn cliché of being the guy in IT whose job it is…
Interview: Pega’s ‘Blueprint’ for breaking the curse of legacy IT
Businesses are losing out twice by having to support old IT systems that they cannot afford to…
Fintech growth three times that of finance sector as a whole
The global fintech sector saw its revenues increase three times that of the finance sector as a…
Tech adaptability helps Zopa unwrap current account and test generative AI
Zopa Bank will make its current account widely available by the end of this year, signalling a…
Remote purchase fraud surges 14%, says banking industry
The UK economy lost £1.17bn to payment fraud in 2024, with a steep increase in unauthorised remote…
Maturing UK fintechs increase tech and cyber security hiring
The UK’s financial technology sector, or fintech as it is widely known, will see a 32% increase…
Lloyds and Nationwide to use UK finance sector LLM
Lloyds Banking Group and Nationwide Building Society are set to roll out a generative AI (GenAI) tool…
HMRC begins escape from Fujitsu’s grip through £500m contract
HMRC has begun the process of breaking away from its heavy reliance on Fujitsu for IT services,…
Strong fintech security posture at risk via third-party weak links
Financial technology (fintech) companies have a strong security posture but are at risk from third-party weaknesses, according…
Capital One pushes out data tokenisation
The software arm of Capital One has expanded the availability of a tool that enables IT departments…
How close is quantum computing to commercial reality?
Quantum computing may still be regarded by many IT leaders as a very niche technology, but broader…
Italian bank signs 10-year deal with Google Cloud
UniCredit has signed a 10-year agreement with Google Cloud to “accelerate” its digital transformation by tapping into…
Nordic countries plan offline payment system for disaster backup
Countries in the Nordic region are planning offline backups to digital payments in the event of losing…
Fintech summit reveals what’s next for sector
This year’s Innovate Finance Global Summit (IFGS) event comes with the backdrop of turmoil caused by Donald…
Artificial intelligence roles the ‘only safe jobs in banking’
Artificial intelligence (AI)-related roles could be the only “safe jobs” in the banking sector as financial organisations…
FCA wants ‘safe place’ for finance firms to test artificial intelligence
The Financial Conduct Authority (FCA) plans to offer a service where companies under its watch can test…
Interview: Daniele Tonella, CTO, ING
Daniele Tonella, global head of IT at ING Bank, tells Computer Weekly about his first nine months…
UK challenger bank targets US’s mid-tier banking sector with tech platform
Starling Bank has created a US subsidiary where it will target mid-sized banks with its banking software…
Lloyds Bank moves AI work onto Google Cloud platform
Lloyds Banking Group will build, deploy and scale artificial intelligence (AI) systems using a Google service, accelerating…
Spirit of openness helps banks get serious about stopping scams
Three announcements in the space of a few days this month suggest financial scams have reached a…
Over £18m stolen from Santander UK customers in first three months of year
Over £18m was stolen from Santander customers in the UK during the first three months of this…
Fintech body calls on government for national anti-fraud centre
Fintech trade body calls on the government to establish a national centre to help businesses across different…
Banks to share fraud data with tech firms in cross-sector collaboration
Banks and tech firms are coming together in an initiative to share information on fraud to give…
How to respond to digital regulation in 2025
Given digital technology is so central to how we live, work, transact and communicate, we have recently…
‘Bankenstein’ and a cold calculation means banking crashes will continue
Banks are operating a “spaghetti” tech structure that is creating a game of “technology Jenga” for IT…
Government announces inevitable end to Payments Services Regulator
The government has canned the Payments Services Regulator (PSR) to reduce red tape as part of its…
2024: the year misconfigurations exposed digital vulnerabilities
Imagine the impact of a sudden service disruption on your business. Customers unable to access your platform,…
CFIT publishes blueprint for digital company business IDs
The government-backed Centre for Finance, Innovation and technology (CFIT) has outlined its plan to fight economic crime…
Norway says ‘no way’ to global financial crime
In 2024, the Norwegian government set out a national digitisation strategy with the aim of making the…
Major UK banks hit by payday digital banking problems again
Customers of multiple banks have reported problems banking online, as they struggle to access services on payday…
Post Office makes first official apology to Capture users
The Post Office has made its first official apology to subpostmasters who used its faulty Capture accounting…
Government seeks payments tech partner through £49m contract
The UK government has begun its search for an IT supplier to support its plan to build…
CaixaBank outlines artificial intelligence intentions in €5bn plan
CaixaBank will invest in programmes to make more use of artificial intelligence (AI), as part of a…
Cyber Monitoring Centre develops hurricane scale to count cost of cyber attacks
The CrowdStrike incident in 2024 hit the UK like a hurricane. As it swept across the country,…
EY: Industrial companies worldwide stunted in emerging technology use
Many companies from a range of industries worldwide are stuck at a trial stage of emerging technologies…
‘Times are hard’ for fintech but latest report reveals glimmer of recovery
Fintech investment has been on a downward spiral since 2012, but the second half of this year…
MPs demand bank bosses come clean over IT outages following Barclays crash
MPs have written to bosses at the UK’s biggest banks to shed light on the impact of…
Courting Global Talent: How can Web3 Startups Attract the Best Developers in the World?
One of the interesting developments right now is the intersection between AI and Web3. From the creation…
MPs to scrutinise use of artificial intelligence in the finance sector
The Parliamentary Treasury Committee has called on consumers, finance firms and IT suppliers to provide evidence to support…
How do I prepare for a CPA consultation?
prepare for a CPA consultation Preparing for a CPA consultation is essential to ensuring you get the most…
Barclays hit by major IT outage on HMRC deadline day
Customers of Barclays Bank have been left unable to access web app and online banking, make payments…
The death of the piggy bank marks coming of age of a fintech
Those Beyond started life as the tech lab of fintech unicorn Thought Machine, supplying cloud-based core banking…
A guide to DORA compliance
The Digital Operational Resilience Act (DORA) came into force on 16 January 2023. Following a two-year implementation…
Bank of England and New York counterpart exchange puts technology cooperation into 3D
Financial services regulators in the UK and New York are to share staff through a secondment programme…
Almost half of UK banks set to miss DORA deadline
Although they have had two years to prepare for the incoming legislation, a study has today revealed…
UK’s female fintech leaders hit harder by investment collapse
The women behind fintechs still face discrimination when seeking investment, despite the issue being an industry talking…
Experts say ‘something has to break’ before banks slow IT-driven cost-cutting measures
Two separate announcements have highlighted the aggressive cost-cutting measures banks are putting in place as digital technologies replace…
US bank FNBO uses Pindrop to tackle voice fraud, deepfakes
With cyber criminality and fraud against banks running rampant in recent years and showing no signs of…
Top 10 financial services stories of 2024
It seems fintech has been replaced by generative artificial intelligence (GenAI) as the most-used term in banking…
Interview: Wendy Redshaw, chief digital information officer, NatWest Retail Bank
Wendy Redshaw, chief digital information officer (CDIO) at NatWest Retail Bank, has had a distinguished career leading…
The future is inclusive: How technology can democratise access to opportunity
Technology has always been a transformative force, reshaping industries, economies, and societies. In today’s rapidly evolving landscape,…
Financiers isolate Middle East over sanctions-evading paytech
International financiers have pulled support for a revolutionary paytech system being rolled out in the Middle East…
Bank of England warns against AI ‘complacency’
The Bank of England is launching a consortium where private sector finance organisations and artificial intelligence (AI)…
Tata Consultancy Services to deliver Irish pension scheme
Ireland’s Department of Social Protection has contracted Tata Consultancy Services (TCS) to provide the IT and business…
MoneyGram customer data breached in attack
Financial services firm and money transfer specialist MoneyGram has disclosed a breach of customer data arising from a…
‘Shocked’ MoneyGram hits back at Post Office
MoneyGram said it is “shocked and disappointed” by Post Office portrayal on a contract breakdown, which saw money…
Metro Bank outsources IT to Infosys to cut costs and digitally transform
Metro Bank has contracted Infosys to support its digital business transformation and use of automation, artificial intelligence (AI)…
HSBC tests post-quantum VPN tunnel for digital ledgers
HSBC has worked with Quantinuum to trial “the first application” of quantum-secure technology for distributing tokenised physical gold.…
Barclays takes on more GreenLake
Barclays has extended a private cloud contract with HPE to use GreenLake Cloud as a core pillar of…
Mphasis expands UK roots with leap into quantum computing
Mphasis is expanding its UK operation with a central London innovation hub that will provide its customers with…
Fraud and scam complaints hit highest ever level in UK
Recorded incidents of digitally enabled financial fraud and scams across the UK have hit their highest ever level,…
Lloyds Bank uses artificial intelligence to check trade finance documents
Lloyds Bank is streamlining its trade financing sales through the use of artificial intelligence (AI), which will automate…
Nationwide development platform uses Red Hat technology
Nationwide Building Society is using Red Hat as part of its application development platform, which is speeding up…
TSB systems could be on the move again as BBVA eyes its parent
Financial services company BBVA has received approval from the UK regulator for a takeover of Spanish rival Sabadell,…
Updating taxation: Can AI and data analysis help with HMRC’s human resources problem?
According to the House of Commons, there were approximately 5.6 million private sector businesses in the UK as…
Wells Fargo bank turns to AI to help families settle estates after a death
US bank Wells Fargo has reported a big jump in recommendations from customers after using artificial intelligence (AI)…
CrowdStrike update chaos explained: What you need to know
On Friday 19 July 2024, the UK awoke to news of a fast-spreading IT outage, seemingly global in…
Room to grow in UK for Tata Consultancy Services after half a century
Tata Consultancy Services (TCS) is only bettered in size by Accenture and IBM Global Services, with a customer…
Nordic banks pursue AI in battle with digital competitors
Nordic banks are turning more eagerly to artificial intelligence (AI) and innovation-led tech partnerships that can help them…
Rapid AI development poses supervisory challenges in the Netherlands
The Dutch Authority for the Financial Markets (AFM) and the monetary authority, De Nederlandsche Bank (DNB), are in…
CIO interview: Belinda Finch, CIO, IFS
Technology changes fast and tech jobs are changing just as rapidly, according to Belinda Finch, CIO at enterprise…
International police operation infiltrates LabHost phishing website used by thousands of criminals
Police have shut down a web service used by more than 2,000 criminals worldwide to launch and manage…
Lords to challenge controversial DWP benefits bank account surveillance powers
Members of the House of Lords are pressing for changes to legislation that will give the Department of…
Security Think Tank: Ransomware lessons from the armed forces
Coming from a military intelligence background, focusing on the financing of terrorist groups, I saw the power of…
Which? calls for government action on fake banking sites
Thousands of fraudulent websites that appear to be those of the UK’s largest retail banks – but are,…
Nationwide building society falls victim to IT outage
Nationwide building society is recovering from an IT outage that caused significant difficulties for customers over a period…
Nationwide IT infrastructure poised to absorb Virgin Money
Nationwide’s proposed takeover of Virgin Money could see a company that has gone through multiple technology integrations in…
Dutch organisations vulnerable to deepfake fraud
Dutch companies are vulnerable to deepfake digital fraud due to the country’s high level of digitisation and working…
American Express customers exposed through third-party breach
American Express has written to customers warning that their account details may have been breached after a third-party…
IT leaders dial back cloud-first strategies as hybrid IT becomes more of an investment priority
Cloud-first IT strategies seem to be falling out of favour with technology decision-makers and business leaders, suggests data…
Insurance company Admiral partners with Google Cloud for digital transformation push
Insurance services provider Admiral is shifting its core operations to the Google Cloud Platform (GCP), and working with…
Aviva signs 15-year contract with Indian IT giant
Tata Consultancy Services (TCS) will provide technology services to over five million pension policies over the next…
SEC bitcoin hack was result of SIM-swapping
A cyber attack against the US Securities and Exchange Commission (SEC) that resulted in misinformation being posted…
Urgent question asks which ministers knew of Post Office’s shocking plan to remove judge
Labour peer Prem Nath Sikka has asked the government what it knew about the Post Office’s attempt…
More than 900 subpostmaster convictions wouldn’t have happened without Post Office-backed law change
The IT expert who represented Alan Bates and more than 500 subpostmasters in a High Court case…
2024: The year Generative AI is let out of its cage
Whilst other forms of AI will still drive the bulk of the business impact, generative AI will…
Santander bank added 4,500 tech staff last year
Spanish banking giant Santander has increased its IT workforce to 27,500 globally after adding 4,500 in 2023…
SEC social media hack highlights value of MFA
Cryptocurrency markets fluctuated wildly on the evening of Monday 9 January after the US financial regulator, the…
Metropolitan Police launches second criminal investigation in Post Office scandal
The Metropolitan Police is investigating the Post Office for fraud related to money taken from wrongly prosecuted…
Top 10 financial services and fintech stories of 2023
With spending on IT in the finance sector expected to emerge from the doldrums, we kick off…
CIO interview: Sasha Jory, Hastings Direct
Sasha Jory developed her IT leadership skills in a series of roles with blue-chip finance firms. She…
Insights from launching a developer-led bank
The banking world has always belonged to bankers – and historically, it has been an exclusive and…
Visa to fund AI scholarships for underrepresented students in government scheme
Visa is funding data science and artificial intelligence (AI) scholarships for students from underrepresented backgrounds in a…
Visa to invest $100m in generative AI startups
Visa wants to be at the forefront of the next phase of generative AI (GenAI) innovation through…
Lloyds Bank launches digital identity app
Lloyds Banking Group has launched a digital identity service in partnership with a tech startup it invested…
UK Finance paints mixed picture of fraud as losses top £500m
The rate of cyber fraud dropped slightly over the first six months of 2023, falling 2% compared…
Government’s Online Fraud Charter welcomed
Consumer affairs and financial services specialists alike have given their backing to new commitments from some of…
The implications of biased AI models on the financial services industry
The meteoric increase of the use of artificial intelligence (AI) across all sectors is impossible to ignore.…
Over a quarter of UK adults use buy now, pay later fintechs
Fintech-based credit services, known as buy now, pay later (BNPL), were used by over a quarter of…
Lloyds bank kicks off Hyderabad operation
Lloyds Banking Group has described the opening of a tech delivery centre in Hyderabad, India, as a…
Banking should start testing out quantum ideas
Banks should be setting up a quantum computing taskforce, a report from UK Finance has concluded. The…
Cloud banking fintech unicorn cuts 50 staff
UK fintech unicorn Thought Machine has cut 50 staff in roles it said were no longer needed,…
‘Excited’ finance firms pump money into digital technology
According to Finastra’s Financial services: State of the nation survey 2023, technology investment is currently constrained for…
Visa launches artificial intelligence advisory service
Visa is offering its customers artificial intelligence (AI) advisory services following the launch of an operation dedicated…
Ransomware attack on major Chinese lender disrupts financial markets
A suspected LockBit ransomware attack on ICBC Financial Services, the US arm of the Industrial and Commercial…
Shawbrook Bank slashes mortgage processing time through low code
Shawbrook Bank has seen a fourfold reduction in the time it takes to process buy-to-let mortgage offers…
Lloyds Bank warns over rising threat of crypto scams
Cryptocurrency scams have increased by 23% in 2023 compared with the same period last year, according to…
Million Brits could lose access to bank branch if closure rate continues
A million people in the UK could lose easy access to a bank branch in their local…
US government reinforces ICBC hack link to Citrix Bleed
The possibility that this was the case was first raised by security researcher and commentator Kevin Beaumont via…
JPMorgan Chase tops bank AI ranking
JPMorgan Chase has been named the leading global bank for artificial intelligence (AI) maturity in the benchmarking…
Three-quarters of finance executives expect generative AI to replace them
Generative artificial intelligence (GenAI) is expected to take over the jobs of three-quarters of current financial services…