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

Human error to blame as UK data breach investigations surge

UK data breach investigations within the financial services industry almost trebled over the last two years, according to figures acquired via a Freedom of Information request to the Information Commissioner’s Office, with human error almost always responsible. The 183 per cent rise in reported Data Protection Act (DPA) …
John Leyden, 03 Jun 2015
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
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
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
Bitcoin is the future of money CC 2.0 by Jonathan Waller https://www.flickr.com/photos/whitez/

The United States' first official BitCoin exchange goes live

The first government-approved BitCoin exchange in the US has gone live. As we predicted last week, the New York State Department of Financial Services (NYFDS) has given itBit Trust Company the first charter to be a virtual currency in the world's financial center. NYFDS superintendent Benjamin Lawsky said of the decision: "We …
Kieren McCarthy, 07 May 2015
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
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
HP Logo splitting in two

We read Hewlett Packard Enterprise's 316-page post-split blueprint so you don't have to

Hewlett Packard Enterprise, one of two new companies that will emerge once the current HP splits off its PCs and printers business from its enterprise IT offerings, has filed Form 10 with the US Securities and Exchange Commission, an important milestone in the separation process. "Today, I'm more convinced than ever that this …
Neil McAllister, 02 Jul 2015

HP to buy EMC? We think so, say Wall St money men

An HP and EMC merger still seems like a fanciful sticking plaster to heal two tech giants, but financial analysts in the US are advising that such a transaction not only looks logical but more likely. Wall St money men spent last week analysing HP’s direction in the corporate enterprise following the Discover event in Las Vegas …
Paul Kunert, 07 Jun 2015
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
Bitcoin is the future of money CC 2.0 by Jonathan Waller https://www.flickr.com/photos/whitez/

The world's first proper Bitcoin exchange will be live in a month

Bitcoin will officially enter the mainstream financial world next month when New York State's Department of Financial Services (NYDFS) publishes a regulatory framework for the virtual currency, allowing virtual currency exchange itBit to become the first-ever legitimate Bitcoin bank. The NYDFS will publish its final "BitLicense …
Kieren McCarthy, 29 Apr 2015
£10 notes. Pic: Howard Lake

Value of European outsourcing deals plummets

The number of mega outsourcing deals shrank by 25 per cent in Europe for the first quarter of 2015, with just 128 contracts, valued at €1.9 billion (£1.4 billion), according to outsourcing analysts Information Services Group (ISG). David Howie, a partner at ISG, said the figures reflect a trend toward smaller deals, although " …
Kat Hall, 24 Apr 2015
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
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 …

Bin bods Brabantia breached, customer passwords trashed

Brabantia, the Dutch company most well known for making steel bins, has been hacked within the last 24 hours, and customer details may have been exposed. An email Brabantia has sent to consumers explains that "as part of our routine monitoring, we have been made aware that our database accounts have been subject to unauthorised …
Kim Jong-un

Sony blames NORK The Interview cyber strike for delayed Q3 report

Sony plans to delay its third-quarter financial results and has blamed North Korea’s crippling cyber attack on Sony Pictures Entertainment’s business systems. The media giant has asked Japan’s Financial Services Agency to extend its deadline by a month so it can compile the period’s results. Sony needs the extension so its film …
Gavin Clarke, 23 Jan 2015
FTC building

Robocalling Americans? That'll cost you $1.7 MEEELLION

A pair of US companies have been fined $1.7m by the FTC for violating federal laws on robocalling. The US trade watchdog said that Universal Processing Services of Wisconsin and HES Merchant Services Company would have to split a $1,734,972 bill for their role in a robocall scheme advertising credit card interest rate reductions …
Shaun Nichols, 20 May 2015
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

Midland tech dynasty launches The Bank of Rigby

Nigel Jenkins – a senior veteran of corporate leasing at HP, Cisco and Microsoft – wants to turn the tables on his old employers from his base camp at Rigby Capital, the sister firm of services-based reseller SCC. Jenkins, the GM who joined the business in July having worked at the big three, reviewed the existing process of …
Paul Kunert, 15 Apr 2015
Padlocks by Simon Cocks Flickr CC2 license

Redmond promises even MORE cloudy crypto

Get ready for the spooks to howl: Microsoft Research has developed another layer of security to lock up customer data in the cloud. What the Redmond boffins dub "VC3" – Verifiable Confidential Cloud Computing – takes advantage of Intel's SGX command set to create a “lockbox” for customers running MapReduce computations in the …
scissors cut cable

Half of Windows Server 2003 fans will miss July's security cut-off

More than half of companies are now expected to miss the deadline to quit Windows Server 2003 before Microsoft’s 14 July end-of-extended-support cut-off point. Many will seek security cover through Microsoft Custom Support Agreements (CSAs) charged at $600 per server, or reckon on having in place their own plans for coping. …
Gavin Clarke, 30 Jun 2015
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 …
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
sea_hp_sink

Sales of HP notebooks and servers are UP! And that's all the good news

HP kicked off its fiscal 2015 with a disappointing first quarter, reporting revenue and earnings both down for the three months ending on January 31, as compared to the year-ago period. Total revenues for the quarter were $26.84bn, a 4.7 per cent year-on-year decline that underperformed analysts' estimates. The firm's net …
Neil McAllister, 24 Feb 2015
5_pounds_sterling_money_cash_moolah

giffgaff riff-raff hacked off with lift-off of cash spaff

giffgaff claims to be “the network run by you”, so perhaps it shouldn’t be quite so surprised when the online community objects to what was a mobile phone company suddenly deciding it’s a bank. The “run by you” bit means that the company worries a lot about what customers say in the forums. And what the “owners” are saying is …
Simon Rockman, 24 Apr 2015
IBM Dynamic Buy

IBM continues fanboi courtship with fresh crop of iOS apps

IBM has released a trio of enterprise applications for iOS devices, as part of its Businesslab partnership with Apple. Big Blue's three new iOS apps offer tools for customer service tasks and remote working, two areas that IBM and Apple cited as keys last year when they announced their joint effort to put IBM business software …
Shaun Nichols, 03 Mar 2015

Wall Street watchdog publishes its ultimate rules on Bitcoin biz

The New York State Department of Financial Services (DFS) — the financial regulator for Wall Street — has released its final regulations for Bitcoins. The BitLicense Framework will regulate the use of digital currency in New York and tries to strike a balance between preventing fraud while staying open to innovation in a rapidly …
Kieren McCarthy, 03 Jun 2015

Hey biz – cut fraud with digital ID verification. Yes, like Verify – Maude

Building identity (ID) assurance systems into "customer registration processes" could help businesses cut the cost of fraud, a UK government minister has said. Francis Maude said the Cabinet Office is working with "like-minded organisations" to look into the potential for ID assurance services to be used more extensively in the …
OUT-LAW.COM, 06 Feb 2015
Toilet

UK.gov crackpots: Let's build vapourware-based sharing economy CITIES

The creation of entire "sharing economy" cities, mandatory use of Airbnb and Uber for civil servants, and the "opening up" of UK.gov's vapourware Verify service to business are just some of the latest crackpot "sharing economy" recommendations from the government. The response from the Department for Business, Innovation and …
Kat Hall, 19 Mar 2015
Screenshot of the Office 2013 installer for Office 365

Office 365 and Dynamics go live in Australia

Office 365 files may load just a little faster in Australia today, after Microsoft announced it has flicked the switch for the local version of the service. Redmond's outpost has also decided the time is right to serve Dynamics CRM from its Australian bit barns in Sydney and Melbourne. Like the local version of Azure, the two …
Simon Sharwood, 30 Mar 2015
Cook, via Shutterstock

Dell cooks up cloud recipes with Microsoft, VMware and OpenStack

Dell is doubling down on its policy of selling infrastructure, after retreating from its public cloud service provider plan. The firm, which has carved out a big niche in web-scale server centres, will release plans in the next six months to guide others building their own clouds. Blueprints will be for Microsoft’s Cloud …
Gavin Clarke, 25 Jun 2015
Google's Mountain View Headquarters

Google nabs Morgan Stanley CFO to replace Patrick Pichette

Google have announced that Ruth Porat, currently Chief Financial Officer at Morgan Stanley, will be joining the Mountain View management team as CFO. Current CFO Patrick Pichette announced his retirement to go backpacking earlier this month. Google stated that he would be staying on board to "ensure an orderly transition, which …
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

Bad news, IT bods: UK's tech outsourcing up 15% last year

IT outsourcing contracts agreed in 2014 totalled £3.44bn in value, with nearly a third of that value accounted for by deals struck in the energy and utilities sector. Those deals were worth £1.05bn and accounted for most of the 187 per cent year-on-year rise in the sector on £373 million spent on all outsourcing deals in the …
OUT-LAW.COM, 16 Feb 2015
management regulation2

As the US realises it's been PWNED, when will OPM heads roll?

Heads are set to roll at the Office of Personnel Management as director Katherine Archuleta continues to receive a grilling from Senate committees, who are beginning to realise that the country's entire intelligence workforce has been utterly pwned, probably by a hostile nation. Archuleta, alongside OPM's Chief Information …
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 …
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

Bloomberg crash embarrasment delays £3 BEELLLION debt sale

A Debt Management Office auction of short-term Treasury bills, forming part of a bid to raise £3bn, has been postponed, after Bloomberg trading terminals went TITSUP on Friday morning. Just as the weekly tender of cheap debt was being flogged by Her Majesty's lackeys, the Bloomberg terminals crashed, affecting an estimated 300, …
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
IBM 'through-silicon via' stacked chips

DDN purrs, rubs itself around Big Blue's legs, snuggles up to POWER

Intel CPU-using DDN has joined the OpenPOWER Foundation, which is focussed on the use of IBM's competing POWER processor design. DDN, which supplies storage arrays for HPC, big data and enterprise use, says that, by working with the foundation it will help partners and customers drive HPC infrastructure technologies further into …
Chris Mellor, 13 Feb 2015
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

DataStax slurps graph database biz Titan's brains

NoSQL database-start up DataStax is today expected to announce its plans to start developing and selling a graph database for enterprises. DataStax will announce it has bought Aurelius, whose team is behind the Apache-licensed Titan distributed graph database for Cassandra. Financial terms were not revealed. DataStax said the …
Gavin Clarke, 03 Feb 2015
Scrooge McDuck

Oracle data centre offers its back end to banking upstart

Oracle is becoming a British banking back end, with its data centres about to start holding the money and details of some of the UK’s wealthiest citizens. Hampden & Co, due to launch in the first quarter of 2015, has picked Oracle’s Flexcube as its core banking platform, the database giant said Tuesday. Unlike other Flexcube …
Gavin Clarke, 15 Jan 2015
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
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
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