Breaking banks
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6 Aug
Monzo PIN breach – a GDPR fine in the making?
Monzo has told some 500,000 of its customers to change their personal identification number (PIN) after the challenger bank incorrectly stored them in its own internal systems.
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30 Jul
Capital One breach: What was stolen in the mega hack and how?
Financial services firm Capital One has confirmed that it suffered a data breach in which some 106 million customer records were stolen by a hacker.
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10 Apr
AI in banking to be worth $300bn by 2030, but millions of jobs at risk
It’s no secret that artificial intelligence (AI) is becoming increasingly valuable across all industries.
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2 Apr
Financial services apps in “vulnerability epidemic”: 97% have serious security issues
A research project into the security of financial services apps has identified serious issues with the majority of those tested, which could in many cases lead to the exposure of user data to hackers.
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13 Mar
Adapt to survive: What’s next for open banking?
It’s likely that you’ve heard the term ‘open banking’ in recent months.
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6 Mar
Making tax digital: Understanding business transaction clearance
For too long, businesses across the globe paid scant attention to the paradigm shift in transaction tax enforcement.
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5 Mar
Bankers have lost confidence in financial services digital transformation
Despite growing discussion on the topic, confidence in financial services digital transformation has dropped over the past six years, according to research by Capgemini.
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1 Mar
Off-chain technologies like Lightning Network won’t save Bitcoin, experts claim
Bitcoin processes seven transactions per second on average.
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19 Feb
Young people have more faith in Bitcoin more than the stock market
Despite Bitcoin losing more than 80% of its value in a little over a year, the cryptocurrency’s decline hasn’t put millennials off of investing in the blockchain-powered currency.
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22 Jan
Don’t invest in Bitcoin… invest in blockchain
Bitcoin proved to be an incredibly lucrative investment for those that bought in early, with prices rising throughout the second half of 2017 to a December peak of more than $19,000.
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14 Jan
Financial Services companies target tech over M&A growth
Financial services companies now put the acquisition of intellectual property and new technologies as the most important objective in mergers and acquisitions activity, above the growth of market share or extending into new product lines.
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11 Jan
A quarter of Brits will use digital banks within five years
A year ago this month, Open Banking was launched in the UK.
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11 Dec
Data breaches threaten customer trust in Open Banking
Thanks to recent well-publicised data leaks suffered by many high-profile companies this year, customers have grown increasingly aware of and sensitive to data security issues.
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4 Dec
Zopa aims to become “major force in retail banking” with launch of digital bank
Peer-to-peer lending service Zopa has today announced that it is launching a bank, making it the “world’s first hybrid peer-to-peer and digital bank”.
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30 Nov
EY takes on tax technology with launch of advanced lab
Global taxation and financial advisory leader EY has announced that is applying technology to tax with the launch of an Advanced Technology Tax Lab.
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8 Nov
HSBC data breach: Consumer trust “becoming more fragile”
Cybersecurity experts have reacted to the recent HSBC data breach, warning that consumer trust is “becoming more fragile”.
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30 Oct
More than half of UK consumers are ready for biometric payment cards
More than half of UK consumers are ready to pay for items using biometric payment cards, according to research by digital security provider Gemalto.
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23 Oct
Biometrics to replace pin codes and passwords in banking by 2019
Biometrics will be used instead of passwords in banking as soon as 2019, says data and analytics company GlobalData, as banks step up efforts in the war against fraud.
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18 Oct
Authorised push payment fraud: UK authority announces service to combat payment scams
The UK’s leading retail payment authority Pay.UK has announced a new service that will provide significant added protection for online bank payments.
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5 Oct
“Oversized” finance sector has lost £4.5tn in potential growth: research
An “oversized” finance sector in the UK cost £4.5tn in lost growth potential between 1995 and 2015, says research from Sheffield University’s Political Economy Research Institute (SPERI).
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1 Oct
Tesco fined £16.4m for 2016 cyberattacks: How does GDPR apply?
Tesco has been fined £16.4m by the Financial Conduct Authority for failing to protect account holders at its bank against a cyberattack that happened in November 2016.
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1 Oct
SIA becomes Southeastern Europe card processing leader with First Data acquisition
Payment infrastructure technology company SIA has become the leading Central and Southeastern Europe card processing provider following the acquisition of First Data Corporation’s card processing business.
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27 Sep
Ken Clarke: Trump, trade war and Brexit all raise risks of new financial crisis
Experts from the UK government and the City have warned that another financial crisis will happen and is just a question of when and how bad it will be.
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10 Sep
Homeless homebuyer: The cyberattack taking people’s life savings
An emerging type of cybersecurity attack known as the homeless homebuyer is seeing would-be homeowners robbed of their life savings and their future home.
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16 Aug
Robo-advisors give traditional wealth managers an advantage
There is increasing evidence that standalone automated financial advisors, or robo-advisors, will not attract affluent investors on their own, but can provide a competitive edge if included by traditional wealth managers.
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16 Aug
FBI warns of global ATM cybercrime spree
The FBI has issued a warning to banks of a coordinated ATM cybercrime campaign that could see the withdrawal of millions in cash from ATMs around the world.
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15 Aug
FTSE 100 CEO salary increases 23% as inflation squeezes worker pay
The mean pay of FTSE 100 CEOs increased by 23% between 2016 and 2017, according to research conducted by the CIPD and the High Pay Centre.
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10 Aug
UK announces new GDP estimates / Former Malaysian PM gets court date / Ryanair pilots walk out over workplace rights
Good morning, here’s your Friday morning briefing to set you up for the day ahead.
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30 Jul
IBM and CLS announce blockchain platform LedgerConnect for financial institutions
IBM and market infrastructure group CLS are to collaborate on blockchain-based platform LedgerConnect, that will enable financial institutions and software vendors to share and consume apps and services on a shared distributed ledger network.
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23 Jul
UK tax burden highest in half a century: TPA report
The UK tax burden is the highest it has been for 49 years, according to a recent report.