Latest Operational risk News: Finextra Research

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

Company update/Operational risk

Radial and Chargebacks911 partner for merchants dispute mitigation tool

Radial, the leader in omnichannel commerce technology and operations, today announced a new partnership with leading dispute mitigation and loss prevention firm, Chargebacks911, to help merchants reduce the cost of chargebacks and repair reputations with issuing banks.

11 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

Company update/Operational risk

Former Traiana founder Roy Saadon launches risk startup

Former Traiana founder Roy Saadon has launched Access Fintech, an innovative risk management service for banks and buyside firms. The service helps firms track the trade lifecycle and get a true sense of prioritized risk, across an increasing number of systems.

21 June 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

Company update/Operational risk

EBA consults on operational risk and security guidelines for PSD2

The European Banking Authority (EBA) launched today a consultation on its draft Guidelines on security measures for operational and security risks under the revised Payment Services Directive (PSD2).

08 May 2017

News/Operational risk

Apac banks suspicious about fintech consortiums

A research paper has revealed a level of scepticism among Asia Pacific banks when it comes to joining forces with fintechs.

13 April 2017

Company update/Operational risk

Baille Gifford becomes member of Plato Partnership

Plato Partnership is pleased to announce the participation of Baillie Gifford in the not-for-profit industry company as a founding member.

12 April 2017

News/Operational risk

DLT still not mature enough says ECB

The European Central Bank (ECB) has stated that blockchain technology lacks the necessary maturity to be part of its market infrastructure.

12 April 2017

News/Operational risk

US regulator cites fintech as risk to banking system

Emerging financial technology poses a threat to US banks that are unable to compete with this developing field, according to an official report from the US Office of the Comptroller of the Currency (OCC).

06 January 2017

News/Operational risk

New 'secure' £1 coin to be released in March

The UK treasury is set to roll out a new £1 coin in late March which it claims is the most resistant to counterfeiting ever produced.

03 January 2017

News/Operational risk

Guilty trader 'refuses' to turn over stolen software

An ex Goldman Sachs trader who stole software from his employer has disobeyed a judge's order to turn over the stolen intellectual property so that he can profit from it upon his release, a London court heard

16 December 2016

News/Operational risk

A third of London's City workers could face relocation in wake of Brexit - survey

Almost one in three workers in London face an uncertain future over their employer's plans to relocate the business.

25 November 2016