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.
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.
It’s no secret that artificial intelligence (AI) is becoming increasingly valuable across all industries.
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.
It’s likely that you’ve heard the term ‘open banking’ in recent months.
For too long, businesses across the globe paid scant attention to the paradigm shift in transaction tax enforcement.
Despite growing discussion on the topic, confidence in financial services digital transformation has dropped over the past six years, according to research by Capgemini.
Bitcoin processes seven transactions per second on average.
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.
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.
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.
A year ago this month, Open Banking was launched in the UK.
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.
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”.
Global taxation and financial advisory leader EY has announced that is applying technology to tax with the launch of an Advanced Technology Tax Lab.
Cybersecurity experts have reacted to the recent HSBC data breach, warning that consumer trust is “becoming more fragile”.
More than half of UK consumers are ready to pay for items using biometric payment cards, according to research by digital security provider Gemalto.
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.
The UK’s leading retail payment authority Pay.UK has announced a new service that will provide significant added protection for online bank payments.
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).
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.
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.
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.
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.
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.
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.
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.
Good morning, here’s your Friday morning briefing to set you up for the day ahead.
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.
The UK tax burden is the highest it has been for 49 years, according to a recent report.