Operational risk

News/Operational risk

Challenger bank gives up licence to focus on IT platform

A UK challenger bank aimed at the SME business sector has opted to give up its banking licence in order to spend more time developing its IT infrastructure prior to its launch.

06 April 2018

News/Operational risk

Hacked Japanese crypto exchange sold for $34m

Coincheck, a Japanese cryptocurrency exchange that made news in January when hackers stole $500m of customers' deposits, has been sold to Japanese retail broker Monex for $34m (3.6bn yen).

06 April 2018

News/Operational risk

India's central bank issues cryptocurrency ban

The Reserve Bank of India (RBI) has banned regulated banks and its account holders from dealing in cryptocurrencies.

06 April 2018

News/Operational risk

SEC KO's Mayweather-backed ICO over fraud allegations

An initial coin offering (ICO) that raised $32m and was backed by celebrity boxer Floyd Mayweather has been dealt a knockout blow after the US Securities and Exchange Commission (SEC) arrested the company's founders for fraud.

04 April 2018

News/Operational risk

Commonwealth Bank hit by outage

Customers of Commonwealth Bank Australia (CommBank) have been left frustrated after a series of major outages left them unable to access their bank accounts.

04 April 2018

News/Operational risk

Swift Business Forum, Helsinki - live blog

Welcome to Finextra's live coverage of the Swift Business Forum Nordics 2018 in Helsinki. This event will focus on important issues affecting the financial industry in the Nordics, particularly on how both innovation and collaboration are key in the transformation of financial services.

06 March 2018

News/Operational risk

China regulator says fintech must serve real economy

One of China's senior financial regulators has stated that the government will only support fintechs that serve the real economy, casting further doubt on the future of virtual currencies and related technologies within China.

16 January 2018

News/Operational risk

Fired Barclays trader testifies about use of FX algos

A London court has heard testimony from a fired Barclays FX trader about his use of the bank's FX algorithmic trading system in his bid to win his job back, reports Bloomberg.

15 January 2018

News/Operational risk

Europe begins Open Banking era in subdued style

The EU's second Payment Services Directive (PSD2) took effect on Saturday 13 January, bringing with it the start of Open Banking, however the prospect of a sudden revolution is likely to be thwarted by unresolved technical and regulatory issues and a lukewarm reception from consumers.

15 January 2018

News/Operational risk

Japan's banks plan 33,000 job cuts in digital downsizing

Japan's megabanks are planning to make huge, long-term cuts to their workforces as they increasingly turn to artificial intelligence (AI) and automation in a bid to streamline operations and cut costs.

31 October 2017

News/Operational risk

Halloween howler: HSBC suffers online banking gremlins

High street bank HSBC was forced to apologise to UK customers after its online banking service went down for a chunk of Friday.

27 October 2017

News/Operational risk

New EC rules could enable banks to increase their software spending

European banks under siege from digital challengers and sophisticated cyber attackers could face some relief from a possible change in accounting rules that will enable them to spend more on new software.

06 September 2017

Research/Operational risk

Assurance in a changing world

01 September 2017 1 downloads

News/Operational risk

Briton extradited from Germany over bank cyberattacks

Daniel Kaye, a 29 year old from Surrey, has been extradited from Germany to face allegations that he was responsible for a series of cyberattacks against two UK high street banks - Lloyds and Barclays.

31 August 2017

News/Operational risk

UK clearing houses to be subject to formal cybersecurity reporting

Clearing houses in the UK will have to complete regular cybersecurity reports due to new legislation likely to be introduced in May 2018.

25 August 2017

News/Operational risk

Infosys CEO quits after fall-out with founders

The CEO of Indian IT services giant Infosys has unexpectedly resigned, citing a falling out with the company's founders.

18 August 2017

News/Operational risk

Security experts struggle in search for WannaCry clues - Reuters

Efforts by IT security researchers to get to the bottom of the recent ransomware attack have been hampered by an inability to find early traces of the so-called WannaCry strain, according to research commissioned by Reuters and conducted by security ratings firm BitSight.

19 May 2017