Latest Outsourcing News: Finextra Research

Iosco consults on updated outsourcing principles

The International Organization of Securities Commissions (Iosco) is looking for feedback on planned changes to its principles on outsourcing to service providers.

28 May 2020

News/cloud

What does the future hold for a hybrid, multi-cloud future?

In the face of incessant economic volatility, political challenges and being compelled to execute continuous, complex technological adjustments, the financial services industry must acknowledge that the cloud will frame the future.

15 May 2020

News/ai

Dissecting AI hype and FOMO

While artificial intelligence is transforming several industries, the financial sector has a lot to learn from specific case studies in non-banking areas such as health, travel and retail. To start at the beginning, despite the term AI having been bandied about with a number of different definitions, the actual definition is simple: technology that appears intelligent.

19 August 2019

News/cloud

Is RegTech encouraging a cloud revolution?

The deployment of new applications and the migration of core systems onto the cloud is in full swing, and financial institutions (FIs) could arguably soon be free of the legacy shackles that prevent them from moving forward into the age of digitalisation.

30 July 2019

News/regulation

Raphaels Bank fined £1.89m for outsourcing failures

The UK's Raphaels Bank has been fined £1.89 million for outsourcing failures which left thousands of customers unable to use their payment cards on Christmas Eve 2015.

30 May 2019

News/security

FI CISOs to ask for bigger cybersecurity budgets

Nearly three quarters of chief information and security officers at financial institutions plan to ask their firms for an increase in cybersecurity investments in the next year, according to a survey.

29 May 2019

News/Outsourcing

Barclays champions 5G, predicts £15.7 billion boost to UK economy per year by 2025

A new Barclays Corporate Banking report published today reveals that 5G could increase UK business revenues by a staggering £15.7 billion by 2025, despite industry leaders admitting they do not know enough about the benefits of the technology.

03 April 2019

News/regulation

EBA harmonises outsourcing rules

The European Banking Authority (EBA) has revised its guidelines on outsourcing in an effort to help financial institutions apply a single framework for all their banking, investment and payment activities and services.

25 February 2019

News/retail

Santander strikes $700m IBM deal to support biz transformation programme

IBM continues to rack up the financial services contract wins, scoring a huge $700 million global deal with Banco Santander, as well as agreements with ICBC Argentina and the card unit of Hyundai and Kia Motors.

13 February 2019

News/regulation

MAS proposes tighter rules on bank outsourcing

The Monetary Authority of Singapore is consulting on new proposals to expand its regulatory oversight of bank outsourcing arrangements.

08 February 2019

News/Outsourcing

IBM scores $260m deal with Bank of the Philippine Islands

The Bank of the Philippine Islands (BPI) is looking to boost its digital transformation through a $260 million, multi-year services agreement with IBM.

24 January 2019

News/retail

Nordea staffers move to IBM as part of $540m outsourcing deal

Nordea has inked a $540 million, multi-year managed services agreement with IBM that will see around 120 of the Nordic bank's staffers move to Big Blue.

08 January 2019

News/Outsourcing

Barclays Bank to transfer Lithuanian operations staff to HCL Technologies

Barclays Bank is to transfer 460 staff to HCL Technologies as part of an IT infrastructure partnership that will deliver a range of digital services to the bank's 80,000 employees globally.

04 December 2018

News/Outsourcing

Sberbank acquires Russian outsourcing firm Intercomp

Sberbank has completed a deal to acquire Intercomp, Russia’s leading business process outsourcing (BPO) company.

28 November 2018

News/Outsourcing

Bankgirot signs seven-year outsourcing deal with Evry

Swedish payment processor Bankgirot has outsourced its IT operations to Nordic software house Evry in a seven-year deal valued at SEK700 million.

27 November 2018

News/devops

Banks must mimic edge computing implementation of tech giants - Gartner

At this year’s Gartner IT Infrastructure, Operations & Cloud Strategies Conference, research vice president and agenda manager Bob Gill from the advisory firm suggested that banks in need of improving customer experience must look at what the big tech players are doing.

27 November 2018

News/Outsourcing

Commerzbank outsources all Sepa transactions to equensWorldline

Commerzbank is preparing for the arrival of instant payments across Europe by outsourcing all of its payments processing in the Single Euro Payments Area (Sepa) to equensWordline.

23 July 2018

News/Outsourcing

ECB's Hakkarainen warns on IT outsourcing risks

As the digitalisation of banking gathers pace, outsourcing of key IT services to third parties poses an increasing risk to the sector, warns a senior European Central Bank figure.

06 June 2018

News/Outsourcing

Brexit, cyber-resilience, Open Banking to the fore at Swift London forum

The Swift Business Forum London recently took place at the city's Tobacco Dock. With a record 1,300 registrations, the key themes of the day included innovation in financial services, community collaboration, and cyber resilience. And of course, being hosted in the UK, Brexit and its potential impacts also came up in discussion

02 May 2018

News/Outsourcing

SS&C agrees $5.4bn DST Systems takeover

SS&C has agreed a $5.4 billion cash deal to buy DST Systems, giving a major boost to its move into the $25 trillion US retirement market.

11 January 2018