Articles about Financial Services

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What's Brexit? How Tech UK tore up its plans after June 23

Leaders of many British tech firms were less than thrilled to hear that the UK had voted to leave the European Union. “I was shocked and horrified,” says Kate Craig-Wood, managing director of hosting firm Memset, who we spoke before the June 23 vote. Her comments were echoed by others. Mike Laven, chief executive of fintech …
SA Mathieson, 25 Jul 2016
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London's contactless ticket payment system for sale in £15m deal

A contactless payment system built for London’s massive public transport network is to be made available commercially under a £15m deal. Transport for London has agreed that its two-year-old contactless payment system can be modified and sold to other cities by Cubic Transportation System. The £15m deal grants CTS access to …
Gavin Clarke, 13 Jul 2016
Partnership

IBM caps '20 years' of deep MS love with Surface deal

IBM has become the latest sometime hardware giant to agree to push software giant Microsoft’s client hardware - years after selling off its own client devices business. MS device marketing general manager Brian Hall said in a blog post that IBM had joined the Surface Enterprise Initiative along with consultancy and contracting …
Joe Fay, 12 Jul 2016
The British Pound - Sterling currency tumbles post Brexit

Sterling's post-Brexit dollar woes are forcing up tech kit prices

Tech vendors don’t want to admit it but CIOs will need to return to their spending plan spreadsheets: hardware is going to get more expensive post-Brexit as sterling slides against the US dollar. The UK currency fell 12 per cent on 24 June when the outcome of the EU referendum emerged, and this week the pound plunged to a 31 …
Paul Kunert, 01 Jul 2016
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Trustmarque has been sold yet again – this time to Capita for £57m

Capita has acquired Microsoft licensing house and managed services biz Trustmarque for £57m in cash – the fourth time the company has changed hands in three years Trustmarque, part of the Liberata Group, was rolled onto the market in February by parent Ardbid Ltd, appointing investment bank William Blair to find a buyer, as we …
Paul Kunert, 21 Jun 2016
Earth

Punchy SimpliVity wins a Global 50 financial services customer

Hyper-converged systems supplier SimpliVity has won a Global 50 customer, a financial services one. This company has been in existence for more than 100 years. It hopes to reduce its IT total cost of ownership by an astonishing $100m over five years. We don't know who it is but we're thinking it is a financial services …
Chris Mellor, 14 Jun 2016
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Hackers targeting SWIFT banks also targeted US moneymen: Hedge funds at risk

The Lazarus Group of hackers, blamed for a recent run of attacks against mainly Asian banks linked through the SWIFT network, is now suspected of targeting a mid-market US bank. Evidence uncovered by threat detection firm eSentire suggests that the Lazarus crew (which is also the chief suspect in the 2014 Sony Pictures hack) …
John Leyden, 13 Jun 2016
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Over Ireland? Bothered by Brexit? Find that new home for your cloud

As we all know, the cloud isn't an amorphous, non-geographical blob of computing. Which is a good thing, because there are plenty of legal implications around where your data lives and where it moves both to and from. The point is, of course, that as the cloud isn't just a cloud, your choice of provider is largely dependent on …
Dave Cartwright, 13 Jun 2016
Man in a suit drinking tea out doors reading from his tablet

Chinese Ant buy reported

A fifth of financial data provider Shangai Suntime Information Technology has been purchased by Alibaba affiliate Ant Financial for $35m. The purchase was reported by Reuters, which cited "a source with direct knowledge of the deal". Suntime provides financial data forecasting profits. Ant Financial Services Group is valued …
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Developer waits two years for management to define project

On-Call Welcome again to On-Call, our Friday festival celebrating the many odd things Reg readers have been asked to do at work. This week, we're delving into the mailbag of tales generated by recent On-Calls about the reader paid £35k to do nothing for three months and another paid to do nothing for a year. Reader “Henry” reckons he …
Simon Sharwood, 10 Jun 2016

Microsoft's biggest UK reseller flashes fuller figures for '15

Microsoft licensing mountain Trustmarque won’t have done its chances of snaring a new private equity backer any harm by pushing out a decent set of trading figures for calendar year 2015. The York-based reseller, which merged with sister biz TES at the start of last year, reported turnover of £191.9m, up eight per cent on a …
Paul Kunert, 06 Jun 2016
European Union Flag

Brexit: UK gov would probably lay out tax plans in post-'leave' vote emergency budget

The UK government would be likely to have an "emergency" budget shortly after next month's EU referendum if there is a "leave" vote. It would use that budget to give clarity on its priorities for changes to the tax regime. Its proposed changes to the corporate tax regime would be influenced by the eventual trading relationship …
OUT-LAW.COM, 06 Jun 2016
Taylor Swift

SWIFT threatens to give insecure banks a slap if they don't shape up

The SWIFT global payments system has announced it plans to suspend banks with weaker cyber defences until they improve their security. The threatened sanction follows a run of attacks on international banks over recent weeks, including the $81m mega-heist at the Bangladeshi Central Bank. These cyber-heists1 relied on hackers …
John Leyden, 03 Jun 2016
Speed

DDN: We've smashed bandwidth bottleneck. The IOPS will blind you

DDN’s FlashScale (14KXi) is a scale-up and scale-out all-flash and processor powerhouse that can deliver headline-grabbing IOPS and bandwidth numbers - fancy a billion IOPS? This array has dual active:active controllers, each with a pair of 18-core Xeon E5 v4 Broadwell CPUs, up to 2TB of DDR4-2400 memory, and an embedded 48- …
Chris Mellor, 31 May 2016
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Hardware sizzles for HPE – and brings home the bacon

Software and IT services might make the world go round – at least in the heads of Wall Street moneymen – but it was hardware that once again brought home the bacon for Hewlett Packard Enterprise. For the three months ended 30 April (second quarter fiscal year 2016 – summary, tables [PDFs]), HPE's turnover edged up one per cent …
Paul Kunert, 25 May 2016

SWIFT CEO promises security improvements

The head of the SWIFT financial network has put forward a five-part plan to improve security after its systems were the focus of several cyberattacks. Gottfried Leibbrandt gave a keynote on Tuesday at a financial services conference in Brussels and promised the organization would work harder to ensure that incidents like last …
Kieren McCarthy, 24 May 2016

Trad software sales type looking for a break? Atlassian shrugs

Most new companies are likely to opt for cloud-based software, the president of Atlassian said today. And that might just bring a tear to the eye of traditional IT sales bods, given that the company had grown to its $117.9m Q3 revenue off 57,000 companies, without ever having a fleet of besuited sales types. The JIRA and …
Joe Fay, 24 May 2016
Archer cracks the ISIS mainframe's password

Hmmm, where should I dump those unencrypted password files? I know - OneDrive

Enterprises are routinely storing corporate password files in the cloud through Microsoft’s OneDrive backup technology. OneDrive is the most common Office 365 application, with 79.1 per cent of organisations using it, according to a study by cloud control tech vendor Skyhigh Networks. The average corporate OneDrive service …
John Leyden, 18 May 2016
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Firms that make 'questionable use' of your data will pay... with their reputations

There is a reputational risk to firms if they make "questionable use" of consumer data, the European Banking Authority (EBA) has warned. The regulator highlighted the risk in a new discussion paper on the innovative uses of consumer data by financial institutions (29-page/292KB PDF). "Financial institutions might use data in …
OUT-LAW.COM, 10 May 2016
Ireland and Great Britain map, image via Shutterstock

Sayonara, Brits! The Irish tech sector could benefit from Brexit

There appears to be a broad consensus that a Brexit would be bad for Ireland: that Ireland’s economy would be seriously affected if the UK decides to leave the EU on June 23. A report by Irish business lobby group Ibec has warned of “the far-reaching impact on Ireland if our nearest neighbour, key trading partner and close …
Billy MacInnes, 06 May 2016
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Ireland's tech sector fears fallout of Brexit 'Yes' vote

The Republic of Ireland’s IT industry would be damaged if its second-biggest trading partner Britain left the European Union. Firms are concerned about the impact on exports - particularly if the British economy and sterling hit the skids. Some think Ireland could benefit from international firms wanting an English-speaking …
SA Mathieson, 29 Apr 2016

Neo4j CEO: We're at 'a huge inflection point for graph databases'

Interview Emil Eifrem, CEO and co-founder of Neo Technology, says the world is at “a huge inflection point for graph databases” as his company, which supports the open source Neo4j graph database management system, releases v3.0 of the software. Ahead of releasing an architecturally overhauled v3.0 of the data management system, the …
Abstract newspaper letters

DDoS just smokescreens

Distributed denial of service (DDoS) attacks are increasingly being used as a smokescreen for hacker attacks. A new survey from Neustar reports 71 per cent of financial services firms attacked experienced some form of theft and 38 per cent found viruses or malware activation after a DDoS attack. More than half (57 per cent) of …
John Leyden, 27 Apr 2016

Is Dublin becoming as unaffordable as San Francisco?

Comment Over the last five to 10 years, Dublin has become the European base for the likes of Google, Facebook, Amazon, Salesforce, LinkedIn, Yahoo! and Microsoft. Its controversial corporation tax of 12.5 per cent, introduced in 2003, has undoubtedly been the major selling point. However, during that period, the cost of living has …
Kat Hall, 27 Apr 2016
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The suits in finance are cutting down on tech spend – Computacenter

Some financial services institutions are taking a break from spending cash on tech, London-based supplier giant Computacenter said today as it reported a Q1 trading update. The services-based reseller revealed a four per cent year-on-year dip in UK turnover to £348.6m for the three months ended 31 March. Product sales dropped …
Paul Kunert, 21 Apr 2016
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Hortonworks CEO tells El Reg: 'Clearly there's a lot of work to do'

Interview Hortonworks CEO, Rob Bearden, told The Register that “clearly there's a lot of work to do” as the business attempts to stop burning cash by the end of 2016. In an interview in The Marker hotel in Dublin, just across the River Liffey from where Hortonworks was hosting its EMEA Hadoop Summit, Bearden reaffirmed that the Santa …

Cybercrooks turn away from banks. Your health records are far juicier

Cybercrooks are switching up targets moving away from retail and financial services onto healthcare and government last year, according to figures from IBM’s security business. Retail drops out of top five most attacked sector while financial targets dropped from #1 to #3 in IBM X-Force’s 2016 Cyber Security Intelligence Index …
John Leyden, 20 Apr 2016
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Capital One releases AWS code

Banking giant Capital One has released code it built for AWS. Capital One is reported to have open-sourced its Cloud Custodian on GitHub, a rules engine for managing resources running on AWS. The financial firm claimed Cloud Custodian has helped it slash its consumption of AWS resources by a quarter, producing cost savings. …
Gavin Clarke, 20 Apr 2016
European flag with sad face

Brexit would pinch UK tech spend but the EU wouldn't care – survey

If the United Kingdom chooses to leave the European Union – a so-called “Brexit” - Europe's information technology industries would not bat an eyelid and IT spending in the sceptred isles would only experience a “mildly negative” dip. That's the consensus opinion to which analyst outfit IDC is putting its name after polling …
Simon Sharwood, 18 Apr 2016
Android figurine (silver) hangs off building at Mountain View HQ. Photo by Nick Fox, Shutterstock.com</a>

Academics claim Google Android two-factor authentication is breakable

Computer security researchers warn security shortcomings in Android/Playstore undermine the security offered by all SMS-based two-factor authentication (2FA). The issue - first reported to Google more than a year ago - revolves around an alleged security weakness rather than a straightforward software vulnerability. The …
John Leyden, 08 Apr 2016

That naked picture on my PC? Not mine. The IT guy put it there

ON-CALL Welcome again to On-Call, our Friday frolic through readers' experiences of being asked to sort things out in the office, or outside it and outside office hours. This week, a pair of responses to recent On-Call stories in which readers confronted secret directories full of decidedly Not Safe For Work images. Reader “Dave” …
Simon Sharwood, 08 Apr 2016
Plastic_Pipes

Automic lets big firms play with DevOps in private sandbox

Automation vendor Automic has sought to counter the DevOps “whatevs” folk by offering a try-as-you-buy taste of its technology, as part of a slew of initiatives to entice companies to tuck into its full fat product line. The vendor is offering a try before you buy sandbox service for customers, operated on its own cloud, so …
Joe Fay, 04 Apr 2016
IBM Headquarters, Armonk, NY

IBM snaps up small Bluewolf for reported $200m

IBM is set to buy its second CRM-as-a-service business this month, announcing the imminent acquisition of Bluewolf, a Salesforce partner, for a reported £200m. Bluewolf will join IBM's Interactive Experience (iX) arm, to provide Big Blue with Salesforcesque offerings in its customer relationship management. iX is an IBM …
Michael Dell, photo: Dell

$3bn for an IT services outfit? Bloody Dell!

NTT Data says it will be acquiring the IT services branch of Dell in a reported $3bn deal. The Japanese IT services giant said it would be taking on Dell Services as part of a push to expand its reach globally as a provider. In particular, NTT Data says that the deal will boost its presence in North America and extend its …
Shaun Nichols, 28 Mar 2016
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Google to unleash Android Pay on UK shoppers within 'months'

Google’s smartphone payment system, Android Pay, is coming to the UK “in the next few months". The payment service, released in September 2015, will début with a host of the UK’s retailers, banks and financial services institutions on board, Google said on Wednesday. Android Pay is already available in the US, with a claimed …
Gavin Clarke, 23 Mar 2016
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DDN's GRIDScaler gets bigger scale-up and scale-out muscles

DDN has updated its scale-out/up filer GS12K array to the GS14K, saying it's the industry's fastest and most flexible scale-out filer. GS stands for GRIDScaler and it is a scale-up/scale-out storage system for HPC workloads which uses GPFS (General Parallel File System), now called Spectrum Scale by IBM. A companion EXAScaler …
Chris Mellor, 22 Mar 2016
Jerry Maguire

DevOps, huh? Show me the money. Show me the MONAY!

As career buzzwords go, you’d struggle to find one that trumps DevOps judging by the number of conferences, software tools and books flooding the market. DevOps certainly seems to offer plenty of opportunities, straddling, as it does, disciplines across technology and management from building and managing apps to running and …
Rachel Willcox, 21 Mar 2016
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Reformed LulzSec hacktivist joins payments firm

Updated A payments firm has hired reformed LulzSec hactivist Mustafa Al-Bassam (formerly known as tFlow) for a new blockchain research project. London-based payments group Secure Trading has taken on Al-Bassam to help develop a platform that applies the verification benefits of blockchain technology in order to improve the visibility …
John Leyden, 16 Mar 2016
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Pure uncloaks rack-scale FlashBlade object filer for unstructured data crowd

FlashBlade is Pure Storage’s rack-scale flash system for multi-protocol access to unstructured data and the first all-flash object-based unstructured data storage system. Although its rack-scale is differentiated from EMC’s DSSD rack-scale flash system, which is primarily for latency-sensitive structured data. It is a …
Chris Mellor, 14 Mar 2016

Newbie startup Tarmin shines up trendy secondary storage grid

Backgrounder Startup Tarmin has developed an object storage system with a data management system layered on top to provide single and all-embracing access to an enterprise's secondary data. The software is called GridBank and it stores data and derived matadata either in an on-premises grid of systems (X86 servers + DAS) and/or in the …
Chris Mellor, 10 Mar 2016
Rose and Jack drowning scene Titanic. Pic: Fox pictures

Cloud sellers who acted on Heartbleed sink when it comes to DROWN

Response to the critical web-crypto-blasting DROWN vulnerability in SSL/TLS by cloud services has been much slower than the frantic patching witnessed when the Heartbleed vulnerability surfaced two years ago. DROWN (which stands for Decrypting RSA with Obsolete and Weakened eNcryption) is a serious design flaw that affects …
John Leyden, 08 Mar 2016
William Hill's R&D Engineering Lead Gavin Stevenson

Software dev 101: 'The best time to understand how your system works is when it is dying'

QCon London At the QCon Developer conference underway in London, William Hill's R&D Engineering Lead Gavin Stevenson told attendees that they should celebrate IT failures. "The best time to understand how your system works is when it is dying," he said. QCon is a vendor-neutral event focused on large-scale software development and …
Tim Anderson, 08 Mar 2016
data centre racks

Hardware – yes, hardware – is driving Hewlett Packard Enterprise's top line

Hewlett Packard Enterprise spends much of its time talking about hybrid IT taking over the world, but it was good old fashioned hardware - boosted by a $3.5bn buy - that made Q1 of fiscal year 2016 better than it might have been. In the period ended 31 January, the first full quarter of since HPE split with the PC and printing …
Paul Kunert, 04 Mar 2016
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Third of US banks OK with passwords even social networks reject

Six of 17 major US banks have weaker password enforcement procedures than most social networking websites, according to a new study by an American university. The banks ask users to set up passwords that include letters and special symbols, but a study by researchers at the University of New Haven shows that in around a third …
John Leyden, 03 Mar 2016
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Watch out, Barclays. Google pilots Hands Free mobile payment

Google is testing a mobile payment system for those loaded down with too much shopping. The ad-flinger is piloting Hands Free, a smartphone payment app that lets you pay for goods and services without removing your phone from your pocket or bag. Hands Free uses a combination of facial-recognition, phone sensors, Wi-Fi and …
Gavin Clarke, 03 Mar 2016

DDoS attacks up 149 percent as brassy booter kids make bank

The number of distributed denial of service attacks rose 149 percent in dying months of 2015 according to Akamai's networking wonks. The latest figures in the State of the Internet Q4 2015 report (PDF) tracked some 3693 DDoS attacks during the final quarter finding 169 percent uptick in infrastructure attacks. Akamai finds …
Darren Pauli, 01 Mar 2016

Hackers aren't so interested in your credit card data these days. That's bad news

Healthcare and government have overtaken the retail sector as most-targeted for data breaches, according to security firm Gemalto. A total of 1,673 data breaches led to 707 million data records being compromised worldwide during 2015, according to the latest edition of Gemalto’s Breach Level Index report. Not all breaches are …
John Leyden, 23 Feb 2016
wham_bang by Roy Lichtenstein

Israeli military techies cook up security alerts software

Lessons from building the threat intelligence platform for the Israeli Defence Force form the technical foundations of a new security startup called Siemplify. Siemplify’s tech is designed to contextualise threat alerts from the disparate array of security technologies on enterprise networks (anti-malware, intrusion detection …
John Leyden, 18 Feb 2016
Night scene of bank station in central london

Open APIs for UK banking: It's happening, people

On Tuesday, an industry-led group published a new framework for supporting the use of open APIs in the banking sector. The UK Treasury is keen for banks to open up access to the data they hold on customers to other businesses to encourage innovation and boost competition in the sector. It tasked an industry-led Open Banking …
OUT-LAW.COM, 10 Feb 2016

By 2019 world will spend $2.8 TREELLION on the rubbish we write about

Information technology analyst house IDC says that world spending on information technology will hit US$2.8 trillion in 2019, up from this year's $2.46 trillion. Healthcare outfits will do the heaviest lifting, lifting their spending by a compound annual growth rate of 5.5 per cent. Financial services types, the media sector …
Simon Sharwood, 05 Feb 2016