UK politicians have rounded on the nation's banks over an "unacceptable" level of IT crashes and outages, calling on regulators to take action to improve operational resilience across the sector and to consider the implementation of new rules on cloud service providers.

London – January 7th , 2019 - New research by independent financial regulatory think-tank JWG, in partnership with Inforalgo, the Capital Markets data automation specialist, shows that after years of ‘making do’, financial institutions are now proactively ramping up their regulatory compliance capabilities to cope with intensifying global requirements - and the significant additional demands of MiFID II.

SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, today reported the results of its "2017 Insurance Asset Management Technology Outlook."  One of the key findings of the survey revealed that addressing local regulation and accounting standards was the leading operational challenge when it comes to firms' expansion strategies. 

A new joint SWIFT and Boston Consulting Group (BCG) report reveals that interest in application program interfaces (APIs) is rapidly increasing in the securities servicing industry and firms may leverage the technology to handle diversity of asset types.

IBM (NYSE:IBM) and Red Hat (NYSE:RHT), the world's leading provider of open source cloud software, announced today that the companies have reached a definitive agreement under which IBM will acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, representing a total enterprise value of approximately $34 billion.

The rise of fintech is set to fundamentally change the financial services industry, forcing banks to change their operating models and requiring regulators to adapt to address risks while promoting innovation, says a new paper from the Basel Committee on Banking Supervision.

The UK's TSB has taken a further £36 million charge related to last year's botched IT upgrade, adding to the £330 million it shelled out to cover the catastrophic bungle last year.
The UK lender is still haunted by its disastrous switch to a new IT platform from parent Banco Sabadell, which led to a prolonged series of outages for million of customers.

Lloyds Banking Group is to invest £3 billion over the next three years to transform the business into a "digitised, simple, low risk, customer focused, UK financial services provider".

Global VC investment for FinTech in H1 2017 attracted $6.5 billion of VC investment with 787 deals, a 45% decrease year on year, according to statistics compiled through Pitchbook by Innovate Finance, the not-for-profit membership association for global FinTech.

TSB is discontinuing its contract with Banco Sabadell tech subisidiary Sabis in order to bring its IT responsibilities back inhouse following the badly botched migration to the Spanish bank's platform last year.

GFT, the global IT consultancy for the financial services industry, today announces the results of a global survey into retail bank’s attitudes towards digital transformation. The results show that the UK is one of the most mature markets with a staggering 100% of retail banks saying they have a digital transformation strategy in place.

SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, today announced the top findings from AUG The Exchange's Asset Management Operations and Compensation Study for 2017, sponsored by Investment Advisor Association and SS&C Advent. The study tracks key industry trends in technology and operations spending, as well as employee compensation across key positions.