Articles about Financial Services

Apple Contact Hero shot

Financial wizardess joins Apple board, air of coolness noticeably diminishes

The founder of investment fund BlackRock has joined the Apple board of directors, perhaps giving a tantalising clue to the fruity firm's interest in entering the financial services arena. Susan L Wagner, founding partner and director of BlackRock, has replaced Bill Campbell, who was the longest-serving member of the board and …
Jasper Hamill, 18 Jul 2014
Two mobiles man

BT fattens flabby Global Services biz to puff and huff way to £32bn

Falling sales at BT's global services division has forced the company to make a bold shift in its strategy in that part of the business by expanding its investments abroad. The telecoms giant said today that it planned to "accelerate growth" in Asia Pacific, the Middle East and Africa. It's one of Gavin Patterson's first big …
Kelly Fiveash, 28 Nov 2013
The Register breaking news

Bloomberg blocks its hacks from snooping on financial terminals

Bloomberg has blocked its journalists from eavesdropping on users of its financial data terminals after it emerged that reporters were obtaining stories through their snooping. Financial services firms, including merchant banks, pay about $20,000 a year to rent each Bloomberg terminal. Thousands of traders in stock exchanges …
John Leyden, 13 May 2013
channel

Capita coughs up £29m for financial services house

Capita has splurged £29m on AIB International Financial Services, (AIBFS) as it continues to broaden its commercial base outside of the UK. The deal – subject to regulatory approval in Ireland, Luxembourg and the Netherlands – will give the company entry into Switzerland and Hungary as well as adding a chunk of revenues to its …
Paul Kunert, 02 Aug 2011
The Playmobil bank set, complete with armed robber

Banks, UK.gov must work together to beat cyber-nasties

Government must work closely with UK banks to improve financial institutions' infrastructure and resilience to cyber attacks, the Bank of England has warned. Banks currently view cyber attacks as a "technical" problem, rather than an issue which merits "board-level attention," it said on Tuesday in its Financial Stability Report …
Kat Hall, 16 Dec 2014
The Register breaking news

Is Financial services IT in a mess?

Tech Panel Whether it’s insurance or banking, those working in financial services keep coming in for a lot of stick. Over the years, many organisations have spent shed loads of money on IT, yet customers still complain about bad service, broken processes and the fact that nothing seems to be joined up. This brings the state of IT into …
Martha Bennett, 11 Nov 2011
man_inks_deal_channel signs contract services

Oz regulator says crowdfunding must obey financial rules

Kickstarter kicked Australia's financial services regulator, the Australian Securities and Investment Commission (ASIC), has run its eye over crowdfunding services and decided some effectively issue securities under Australian law. “Depending on the particular crowd funding arrangement, ASIC's view is that some types of crowd …
Simon Sharwood, 14 Aug 2012
2001: A Space Odyssey

Boffins look down back of Amazon Web Services, find a SUPERCOMPUTER

What runs faster than the majority of the world's supercomputers, costs less, and was used to research organic solar-power cells? The answer is Megarun, a 1.21-petaflop super that was spun up by Cycle Computing in the AMAZON CLOUD. Cycle Computing revealed its Megarun beast on Tuesday before the kickoff of Amazon Web Services's …
Jack Clark, 12 Nov 2013
channel_partners_deal_handshake

Destination Korea: an emerging market for IT services

South Korea is being touted as the latest outsourcing market for global IT services firms to target, and could even emerge as an offshoring destination in its own right in the future, according to analyst outfit Ovum. The IT analyst’s latest Emerging Outsourcing Opportunities reportclaims the South Korean IT services market is …
Phil Muncaster, 03 Jun 2013
channel_teaser_money_top

Brits conned out of nearly £24m in phone scams IN ONE YEAR

Brits have lost three times as much money in phone scams in the last year than they did the year before, according to Financial Fraud Action UK. The organisation, which works with consumers, retailers and the police as well as the financial services industry, said that 58 per cent of people said they’d received suspect calls, up …
The Roadrunner two-socket, Open Compute motherboard designed by AMD and friends

Financial firms start lining up for AMD Roadrunner systems

For more than a few large-scale data center operators and supercomputer centers in the world, AMD's Opteron processors are still an important part of their infrastructure. But over the past few years, as Intel has got its Xeon act together and AMD has had some issues (to put it politely) the tier-one server makers have not …
Trade in Services Agreement parties

Bankers bid to use offshore temp techies

Financial services organisations could parachute IT staff in wherever they please instead of employing locals, under provisions of an annex to the Trade in Services Agreement (TISA) revealed today by WikiLeaks. TISA is a trade agreement aimed at making it easier for service providers to access foreign markets. But the Financial …
Simon Sharwood, 20 Jun 2014
CapitaITServices

Capita IT Services healing Hands make mark on biz

Chairs on good ship Capita IT Services (CITS) are being re-arranged under the say so of chief executive Peter Hands. Staff were told via email - seen by El Chan - that Gordon Ellen, director of IT Services at Capita is set to leave the business at the end of May to take on a new "challenge". And in typical Capita fashion it …
Paul Kunert, 18 Mar 2013
App Magnets

Remember that Big Blue Apple? Biz apps for iPads are here

The fruits of Apple and IBM’s enterprise software alliance were today plucked and displayed for the world to see: a bunch of apps ported to iOS that target corporate buyers of iPad and iPhones in specific vertical industries. In the first tranche of Big Blue developed MobileFirst “made for business” apps and “supporting” cloudy …
Paul Kunert, 10 Dec 2014
Files

UK banks hook themselves up to real-time cop data feed

UK banks will receive real-time warnings about threats to their customers' accounts as well as the overall integrity of their banking systems from a new financial crime alert system. Financial Crime Alerts Service (FCAS), which is being rolled out by banking industry association BBA, is designed to allow financial crime …
John Leyden, 23 Sep 2014

Bill Gates asks telcoms standards boffins to define future of money

Two-and-a-half billion adults in the world don't have bank accounts, and the the Bill and Melinda Gates Foundation thinks it's got the answer: deliver financial services to mobile phones. And the International Telecommunications Union (ITU) agrees: late in June, it established a focus group to look at Digital Financial Services …
The US Cyber Command official seal

What is ex-NSA spyboss selling for $1m a month, asks US congressman

Representative Alan Grayson (D-FL) is pushing for a formal investigation into the activities of General Keith Alexander now that the former head of the NSA has started his own very expensive security consultancy. There is no evidence of any wrongdoing by Gen Alexander. Last week it was reported that Alexander, who retired from …
Iain Thomson, 26 Jun 2014
Cloud security

Defence giant BAE coughs $230m for cloud heavy SilverSky

BAE Systems has bought cloud-based email and network security firm SilverSky for $232.5m, seemingly finding the US company's products and customer base irresistible. Ian King, chief executive, BAE Systems, said: "SilverSky has an established sales force, a complementary suite of scalable products and a large installed customer …
John Leyden, 21 Oct 2014
Spam

This is your chance to help Blighty beat off moneymen's spambots

It used to be said that age knows no class. Perhaps the same can now be said of spam advertising. Some annoying message or other must have reached the gilded timeline of someone at the Financial Conduct Authority, because it has launched a bid to clamp down on the uniquely irritating social media promotions industry – at least …
Jasper Hamill, 07 Aug 2014
Dunce

Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws

The whopping 70 per cent of retail and 69 perc ent of financial services apps are vulnerable to data breaches. That's according to an analysis of 705 million lines of code as used by 1,316 enterprise applications carried out by software analysis and measurement firm CAST. The firm reckons a growing number of data breaches and …
John Leyden, 27 Aug 2014

Post Office: Here's £100m, Computacenter. Now get us up to date, for pity's sake

Services-based reseller Computacenter has bagged a £100m project to refresh and manage tens of thousands of PCs for the Post Office, in line with the customer’s aim to drag itself into the 21st century. The four-year End User Computing Tower involves CC buying, configuring, installing and maintaining more than 30,000 devices …
Paul Kunert, 08 Dec 2014
Uncov chronicles the failure of Web 2.0

BAE retracts hedge fund hack allegation

BAE Systems Applied Intelligence has retracted allegations of a nasty attack on a hedge fund it floated on Canadian television a couple of weeks ago. The firm today told Bloomberg was just a scenario that it used for “illustrative” purposes. BAE has promised not to scare us all with hypotheticals any more. That promise is all …
Simon Sharwood, 03 Jul 2014
Tactical facepalm

Oz biz regulator discovers shared servers in EPIC FACEPALM

The Australian Securities and Investment Commission, which in 2013 accidentally blocked innocent Websites in an attempt to disrupt financial fraud, has told a government inquiry it didn't actually know what it was doing. In using what are called “Section 313 notices” under the Act to shut down fraud sites, the financial …
European Union Flag

Will Europe's ISPs unmask anonymous IP infringers?

A debate into whether internet service providers should be able to deliver content over their networks to anonymous internet users has been launched in the EU. The presidency of the Council of Ministers, an EU lawmaking body, said there was a need to clarify whether "due diligence obligations such as 'know your customer' are or …
OUT-LAW.COM, 23 Sep 2014

Blighty will be BIGGER and BETTER than Germany, confirm beancounters

Britain's teamsters may not be setting the sporting stage alight this summer but the local tech economy is heating up as it sprints to Euro glory. Figures from Chancellor George Osborne late last week showed that overall UK economic output is some two per cent larger than pre-financial crisis levels in 2008, after rising 0.8 per …
Paul Kunert, 28 Jul 2014
channel

Onyx Group scoops up financial services IT provider

Onyx Group has bought London-based IT firm Moffat Communications for an undisclosed sum. The managed networks and hosting outfit said the acquisition was its fourth in 18 months as the company attempts to expand its operations to become a "leading national IT provider." Moffat, which was formerly part of Grant Thornton UK LLP, …
Kelly Fiveash, 18 Aug 2009
The Register breaking news

Financial fraud hits 23-year high

High-end financial fraud hit a record 23-year high during the course of 2010, management accountancy and consultancy firm KPMG reports. KPMG's latest annual Fraud Barometer report records 314 incidents of fraud with a combined total of £1.4bn, up 16 per cent on 2009. This is the highest level recorded in the 23-year history of …
John Leyden, 12 Jan 2011
Lehman Brothers London HQ

Enormo reseller Insight seeks experienced sales hands for City pad

Headhunters will be on red alert after Insight confirmed plans to establish a sales outpost in the City in a bid to snuggle up to existing and potential corporate customers. The firm has rented some space from an unspecified service delivery partner in Aldgate to rub shoulders with Kelway, Misco, Softcat, Computacenter and many …
Paul Kunert, 20 Mar 2014
IBM logo

IBM services chief and CEO contender Daniels retires

Mike Daniels, a career IBMer who has been running all or most of Big Blue's Global Services behemoth for the past several years, has said uncle and will be leaving the company. IBM's current CEO, Ginni Rometty, beat Daniels and other graybeards for the top job in October 2011 and rearranged management appointments last year …

Elderly zombie Asprox botnet STILL mauling biz bods, says survey

The Asprox botnet was responsible for about 80 per cent of all attack sessions recorded during October 2014, impacting nearly 2,000 different organisations. These figures, from a new report by Palo Alto Networks, provide evidence that the Asprox (AKA Kuluoz) malware family is continuing to plague businesses, despite multiple …
John Leyden, 11 Dec 2014

UK.gov eyes up virtual currencies, fingers red tape dispenser

The UK government is to review the trade in virtual currencies to investigate whether it should regulated. Chancellor George Osborne said the review would look into the potential of "alternative payment systems" to boost UK growth and would include an assessment of the need to regulate the use of virtual currencies in …
OUT-LAW.COM, 07 Aug 2014

Oh dear, traders: Banker bosses are monitoring your smoke breaks

Banks must consider staff relations when turning to "big data" to identify potential misconduct, says an expert. There are legitimate reasons why banks would wish to monitor staff behaviour through the latest in 'big data' analytics, but they should consider employee relations issues before using that technology, an expert has …
OUT-LAW.COM, 04 Dec 2014

UK's a very popular target for EMEA cyberspies – report

Malware attacks, especially in Europe, nearly doubled in the first half of 2014, according to a new report. Government, financial services, telecommunications and energy were the most targeted sectors – collectively making up more than half of attacks detected by security vendor FireEye. The UK (17 per cent) followed by Germany …
John Leyden, 17 Oct 2014
The Register breaking news

Meerkats face financial regulation

Price comparison sites may be in breach of financial advice regulations when they lead customers to insurance policies, regulator the Financial Services Authority (FSA) has said. Companies must have FSA permission to provide financial advice, but some price comparison website activity could amount to a regulated activity, it has …
OUT-LAW.COM, 17 Jun 2011
management management4

Security: Sweet brief for rare man Roche, new boss of Fujitsu TS

Fujitsu company veteran Tom Roche has grabbed the chieftain's chair at the Technology Solutions unit with a specific brief to boost security sales. The post became vacant last month when former boss Michael Keegan was made overlord of UK ops for Fujitsu, replacing Duncan Tait who was lifted to the head of the EMEIA organisation …
Paul Kunert, 18 Jun 2014
sea_hp_sink

HP biz split latest: 'I'm excited!' says CEO as investors exchange nervous looks

HP performed about as well as the analysts expected for the fourth quarter of its fiscal 2014, which is to say it was another difficult quarter that put the cap on what has been a trying year for the tarnished tech titan. Revenues for the quarter were down 2.5 per cent from the year-ago period, at $28.4bn. That sum missed Wall …
Neil McAllister, 26 Nov 2014

Korean credit card companies hit with 90-day, $100m sales ban

Three South Korean credit card firms which are thought to have exposed the personal data of 20 million customers have been forced to suspend all new business for three months in a blow which could cost them nearly $100 million. Korean regulator the Financial Services Commission (FSC) said the firms were not allowed to sign up …
Phil Muncaster, 20 Feb 2014

Fed chairwoman casts doubt on Bitcoin regulation in the US

The head of the US Federal Reserve has said that her office will not imposing any regulatory controls or restrictions on the Bitcoin cryptocurrency. Chairwoman Janet Yellen told a congressional committee that the Reserve lacks the authority to impose regulations on Bitcoin and she cast doubts on the ability for other government …
Shaun Nichols, 28 Feb 2014

Korean credit card bosses offer to RESIGN over huge data breach

An IT contractor has been arrested over the theft of credit card and personal details of 20 million South Koreans. Investigators allege an IT worker at the Korea Credit Bureau copied names, social security numbers and credit card details of millions onto a USB stick before flogging them to a marketing firm. He has been charged …
John Leyden, 22 Jan 2014
management regulation7

ONE FIFTH of Win Server 2003 users to miss support cutoff date

A fifth of those running Windows Server 2003 are currently expected to miss Microsoft’s deadline to move before it terminates support next year. That number will likely increase as Windows Server 2003 migration projects that are underway hit snags and delays. That’s according to Avanade, which reckons there's a hard core of …
Gavin Clarke, 07 Nov 2014
The Register breaking news

NYSE Euronext fluffs financial cloud

NYSE Technologies – the research, development, and IT operations arm of the NYSE Euronext exchanges in New York and London – has fluffed up a cloud specifically for trading firms. Saying so won't generate much sympathy among the proles, but trading volumes on Wall Street and in the City are down, and profits for brokerage houses …

HP says 'turnaround remains on track', cuts thousands of workers

HP has handed in a tepid set of financial results with a surprise note saying it expects to lay off even more employees, as the company trudges down an unknown path into a new IT world. The company reported revenue of $27.3bn and earnings per share of $0.88 on Thursday, meeting analyst earnings expectations but narrowly missing …
Jack Clark, 22 May 2014
Houses of Parliament at night-time

HM Treasury: Look at our SME-friendly contracts ... that we just gave to a multinational

Her Majesty's Treasury appears to be using smoke and mirror tactics to promote the government's wider SME agenda, after splitting up a major contract into multiple towers but handing the beefiest deal to a huge corporate. The coalition has made great strides to break the oligopoly of tech suppliers that hoovered up business …
Paul Kunert, 08 May 2014
Two mobiles man

Buy Your Own Device: No more shiny-shiny work mobe for you

A new service piggybacks a company number on the back of the employee's personal number to save money for both and make Bring Your Own Device (BYOD) easier. Youtube Video The idea of people wanting to use their own mobile but have work pay for calls opens a can of worms. The spectre of BYOD brings with it the issue of who pays …
Simon Rockman, 09 Dec 2014
Freescale Internet of Things car

PwC says US biz lagging in Internet of Things

PricewaterhouseCoopers reckons the business end of the Internet of Things is going to hit its straps in 2015, reporting that 20 per cent of US businesses polled in its most recent Digital IQ Snapshot are putting money into sensors of some kind. Unsurprisingly, the industries most keen on sensors are industries already famous for …

Euro banks will rip out EVERYTHING and buy proper backend systems ... LOL, fooled ya

European banks are in a "holding pattern" when it comes to integrating the latest technology into their core banking systems, with the majority only carrying out modernisation initiatives when necessary rather than with a view towards long-term transformation, according to a new survey. None of the 27 banks or two financial …
OUT-LAW.COM, 29 Aug 2014
Japanse suspension bridge

Wonderful wizard of WOS daddy DDN moves into big data

Comment HPC and supercomputer storage company Data Direct Networks (DDN) says its move into enterprise big data is providing a bridge to profits, with 100 per cent revenue growth. The stats it quotes are these: Better than 100 per cent business increase in first half of 2014 compared to first half of 2013 for its enterprise big data …
Chris Mellor, 01 Sep 2014
Money image

Hackers steal trade secrets from major US hedge firm

Criminals have successfully attacked a hedge fund, delaying trades and stealing profitable secrets in a rare direct raid on the financial services sector, according to BAE Systems Applied Intelligence. The clever hack cost the unnamed US-based hedge fund millions of dollars over two months, the firm alleges. Attackers apparently …
Darren Pauli, 23 Jun 2014
Canary Wharf at night

FCA drafts new rules to protect crowdfunders' lenders

Loan-based crowdfunding platforms will be required to hold a certain amount of capital in reserve to mitigate against the risk of their business failing and leaving lenders out of pocket, the UK's Financial Conduct Authority (FCA) has said. The regulator has announced a finalised regulatory regime for crowdfunding platforms (95- …
OUT-LAW.COM, 07 Mar 2014
Larry Ellison, photo by Oracle Corporate Communications

Oracle has swallowed BigMachines, but does Salesforce look queasy?

Oracle has scooped up a hosted CRM specialist and one-time Salesforce.com investment. Larry Ellison's database giant has bought BigMachines, a 13-year-old provider of hosted sales-to-order software that allows sales staff to create quotes, promotions and proposals using automated workflows. Financial terms of the deal were not …
Gavin Clarke, 24 Oct 2013