UK MPs demand urgent action on bank IT failures
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.
Securities industry close to adopting APIs – SWIFT and BCG
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.
TSB takes further £36 million hit over IT breakdown
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.
TSB to take technology inhouse after IT meltdown
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.
Time to rethink regulatory reporting?
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.
IBM to acquire Red Hat for $34 billion
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.
Lloyds earmarks £3 billion for three-year IT transformation
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".
Retail banks say artificial intelligence is critical to digital transformation
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.
