Financial Services IT

Financial Services IT news, analysis, how-to, opinion and video. | CIO

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‘Distributed guessing’ attack lets hackers verify Visa card details

Add credit card fraud to the list of things that distributed processing can speed up.

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IBM will open the first of four new UK data centers next month

IBM is opening four new data centers in the U.K., despite some of the gloomy forecasts for the country's economy following its vote to leave the European Union.

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Half of banking customers now using fintech

A new report finds half of banking customers around the globe are now using financial technology products or services from at least one fintech firm, but customers also put much more trust in traditional financial institutions.

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Blockchain adoption in banks coming, but slower than expected

Banks will likely take 24 months or longer to push blockchain software systems into commercial production, says the man who championed the digital ledger technology at UBS.

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At Goldman Sachs, APIs point the way toward a platform future

Opening up its 'secret sauce' has Goldman Sachs' peers scratching their heads. Now there's unambiguous research that its plans make a lot of financial sense.

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UK bank suspends online payments after fraud hits 20,000 accounts

The banking arm of U.K. supermarket chain Tesco has suspended online payments for its 136,000 checking account customers following a spate of fraud.

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Should I judge a system based on requirements or outcomes?

When companies evaluate new systems, they often fall into the trap of creating a list of requirements based on how they work today, not on the outcomes that they want to achieve. Here's a look at three common pitfalls, with...

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IBM deploys machine learning to bolster online banking security program

IBM Security is introducing online banking protection that flags fraudulent account users based on how they move their mouse.

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Bankers plan to give Corda blockchain code to Hyperledger project

Corda, a distributed ledger platform developed by a finance industry consortium, will go open source next month when its developers donate the code to the Linux Foundation's Hyperledger Project.

The chasm between efficient IT and lean IT

Despite the $300 billion spent on technology in financial services annually, funding is still scarce for digital opportunities. Lean IT is the next frontier for CIOs -- a steppingstone in their digital transformation journey and a...

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Second group of hackers found also targeting SWIFT users

A second hacking group is also trying to rob banks by exploiting the SWIFT money transfer system, following an $81 million heist in February that used a similar approach.

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8 challenges that keep financial services CTOs and CIOs up at night

Experts in financial services, IT, security and compliance discuss the major issues facing IT executives at financial services companies.

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Chip card lawsuit to move forward against Visa, Mastercard, others

A federal judge has ruled it is plausible that four national credit-card companies improperly conspired “in lockstep” to set a deadline of Oct. 1, 2015 for requiring retailers to upgrade their technology to accept embedded chip cards...

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Financial sector expands use of blockchain databases

Banks and financial markets are adopting blockchain distributed database software for payments and lending services at a faster pace than once expected.

gottfried leibbrandt ceo swift sibos 2016

Swift CEO reveals three more failed attacks on banking network

Banks stopped three new attempts to abuse the Swift financial transfer network this summer, its CEO Gottfried Leibbrandt said Monday, as he announced Swift's plan to impose tighter security controls on its customers.

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Illusive Networks seeks to slow Swift attackers through deception

Today's savvy bank robbers don't break into vaults looking for gold or diamonds: They're more likely to be hacking networks looking for access to the Swift payment system.

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Citigroup is cutting costs by making storage simpler

Citigroup is using software-defined storage to build an infrastructure that could last 25 years – while generations of hardware come and go. By simplifying its architecture, Citigroup expects to slash its operational expenses, which...

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Why Accenture broke the blockchain with IBM's help

Let me guess. You thought blockchains were immutable. Exploring the mystery behind breaking the blockchain. What does this all mean for business?

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