Financial Services IT

Financial IT news, trends, analysis and practical advice

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IBM will open the first of four new UK data centers next month

IBM is opening four new data centers in the U.K., despite some of the gloomy forecasts for the country's economy following its vote to leave the European Union.

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U.K. bank suspends online payments after fraud hits 20,000 accounts

The banking arm of U.K. supermarket chain Tesco has suspended online payments for its 136,000 checking account customers following a spate of fraud.

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Bankers plan to give Corda blockchain code to Hyperledger project

Corda, a distributed ledger platform developed by a finance industry consortium, will go open source next month when its developers donate the code to the Linux Foundation's Hyperledger Project.

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Banks turn to A.I. for improved customer service, competitive edge

Here's how Capital One, RBS and TD Bank use artificial intelligence to boost customer service and revenue.

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Second group of hackers found also targeting SWIFT users

A second hacking group is also trying to rob banks by exploiting the SWIFT money transfer system, following an $81 million heist in February that used a similar approach.

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Chip card lawsuit to move forward against Visa, Mastercard, others

A federal judge has ruled it is plausible that four national credit-card companies improperly conspired “in lockstep” to set a deadline of Oct. 1, 2015 for requiring retailers to upgrade their technology to accept embedded chip cards...

gottfried leibbrandt ceo swift sibos 2016

Swift CEO details three more failed attacks on banking network

Banks stopped three new attempts to abuse the Swift financial transfer network this summer, its CEO Gottfried Leibbrandt said Monday, as he announced Swift's plan to impose tighter security controls on its customers.

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IT certifications report card: What are they worth now? Which ones pay off the most?

The first of a two-part series on IT certifications' multifaceted contribution to a prosperous, secure career in technology's busiest and most promising sectors and senior management in any enterprise.

swift security breaches

Swift hopes daily reporting will help stem payment fraud

Swift is introducing a new reporting system to help banks identify fraudulent payments made over its financial transfer network -- but the reports will arrive up to a day too late to stop them all.

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Bank of England wants next payment system to be blockchain-ready

The Bank of England wants to open its interbank settlement service to blockchain technologies as part of a major revamp of the system.

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SWIFT: More banks hacked; persistent, sophisticated threat is here to stay

SWIFT warned that more banks have been attacked, some losing money in the high-tech heists, and urged banks to tighten security since the persistent and sophisticated threat is here to stay.

Malware steals payment card data from PoS

Eddie Bauer is latest retailer to be hit by point-of-sale malware

Sportswear retailer Eddie Bauer informed customers that point-of-sale systems at its stores were hit by malware, enabling the theft of payment card information.

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How 3 fintech startups are shaking up security

Over the years, the financial industry has invested heavily in staff, processes and technology to improve security. But some startups are taking a more innovative approach.

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The last throes of the financial printing typesetter

Pronounced all but dead since the advent of SEC self-filing software solutions, their proprietary skill sets suitable only to an industry in decline, financial typesetters still working are bucking the odds. But for how much longer?

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Yodlee to boost financial transactions with contextual data

There was a reason for that acquisition, and it was all about data. Envestnet leverages Yodlee's breadth.

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Bitcoin exchange Bitfinex may have lost $63M to hackers

A digital exchange in Hong Kong suspended trading after a security breach in which thieves made off with an apparent $63 million worth of bitcoins.

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IBM tests secure cloud blockchain service

IBM is cranking up the security on its cloud-based blockchain service.

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SWIFT brings in external support as it fights wave of bank hacks

SWIFT is bringing in additional security support after a series of high-profile bank heists and attempted bank heists conducted via its financial transaction network.

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