Financial IT

Financial IT news, trends, analysis and practical advice

Shellshock flaw poses risks to payments industry

The Shellshock flaw could pose a risk to the payments industry, but doesn't appear to have caused any problems yet, an official with a consortium run by major credit card companies warned Tuesday.

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Grant Thornton connects workforce with cloud collaboration tools

Will create online tool for up to 39,000 staff

why mobile payments pros are drinking apple pay kool aid

Why mobile payments people are drinking Apple Pay Kool Aid…

The financial tech sector seems incredibly excited at the potential of Apple Pay. This is what some players in that sector are saying about Apple's new mobile payment system.

Why we love customers (and sales VPs, too)

It's the late 1980s, and this pilot fish has a project to install some new servers for a rapidly expanding bank. "Because the bank bought these servers with financing through my employer, it was also my job to get the customer to...

Tennessee firm blames bank for $193K cybertheft

A lawsuit filed in Tennessee earlier this month has resurfaced questions about a bank's responsibility in protecting customers against cyberheists.

Hoax press release says Intel suspending investment in Israel

Intel was the target of an elaborate hoax Thursday that drew attention to its plan to invest almost US$6 billion in a chip plant in southern Israel.

Retail industry rallies behind open standard for tokenization

A coalition of retail industry trade groups this week called for the creation of an open tokenization standard for protecting credit and debit card data from theft and misuse.

Apple steals your wallet with future iPhone

Multiple reports claim Apple and Visa are ready to turn your iPhone into your wallet, after years of steady work to develop such services. Apple's wants your money It seems likely Apple's payment solution will combine iTunes with...

How'd you get the vendor guy to go along with it?

The financial institution where this pilot fish works is moving to a new disaster recovery site -- and that means arranging the transfer of several financial-market data servers. "They were all owned by the data vendor, but served...

At least the data center stayed high and dry

Flashback to the 1980s, when this pilot fish is working for a local bank with an old-fashioned two-story lobby -- and its own mainframe upstairs. "In the data center on the third floor, above the branch, we had a leased IBM 3081...

New York's proposed Bitcoin rules include consumer protections

Companies trading in Bitcoin and other virtual currencies would be required to hold enough of the currencies to cover their debts to customers and would have to verify the identities of account holders as a protection against money...

Visa launches 'Checkout' for quick and easy payments from any device

Visa announced a new simplified digital payment service called Visa Checkout, which is designed to allow customers to pay quickly for goods online on any connected device.

Bank of America illegally copied $300M in software, alleges Tibco lawsuit

Bank of America illegally copied $300 million worth of Tibco's enterprise software for use in a massive IT project at its Merrill Lynch subsidiary, Tibco alleges in a lawsuit.

Bankers beware: Technology is going to get you (and none of us will care)

Technology is about to take a big slice of the traditional banking business. Bankers have been slow to see what's coming, but they're starting to realize what's at stake.

Today, of course, we'd do this with a cloud outage

Flashback to the late 1960s, when this pilot fish has just gotten his second IT job -- as a junior assembly-language programmer in a bank's data processing department. "My employer was a small savings bank in a major city," says...

PF Chang's says breach was 'highly sophisticated criminal operation'

Restaurant chain P.F. Chang's China Bistro says the theft of credit and debit card information from some of its restaurants earlier this year was "part of a highly sophisticated criminal operation."

Breaches exposed 1 in 7 US debit cards in 2013

Data breaches at retailers and financial services companies exposed 14 percent of all U.S. debit cards in 2013, according to a nationwide survey by a major ATM network operator.

How to @#$%! up a customer service report

IT support pilot fish who works for a financial institution gets a call from a user: "The letters on my report are printing really small." "After looking at the terminal, network and printer, I could not find any obvious cause,"...

You won't believe what programming language this Wall Street firm uses

One Wall Street firm found computational success not on the traditional path of enterprise Java, but in an obscure functional programming language called Caml, which offered the perfect tradeoff of concision and readability.

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