Companies & Products

UK’s Financial Conduct Authority extends partnership with Cognizant

The UK’s Financial Conduct Authority (FCA) has signed a new deal with with Cognizant, extending a business relation that started in 2011. The technology consultancy will work with the regulator to enhance core applications and improve the quality assurance process. The three year partnership agreement will expand the scope of the Cognizant’s work with the… »

StanChart Says Almost `Over Hump’ on Costly Compliance Upgrades

The London-based bank spent 60 percent of its $1 billion technology budget on compliance-related systems last year and plans a similar allocation for 2017, Chief Information Officer Michael Gorriz said in an interview in Singapore. The remainder is for other investments to improve products and services, he said. “We hope that we are over the… »

Cognizant partners with FSCS to provide technology services

The UK’s Financial Services Compensation Scheme (FSCS) - an independent body funded by the financial sector in order that compensates customers when firms fail  - has chosen US-based IT service provider Cognizant to improve customer experience and increase efficiencies through the use of technologies. Cognizant says that over its three year engagement it will help… »

Alphabet leads investment in U.K. payments startup Currencycloud

The funding will be used for international expansion in the U.S. and elsewhere, as the company attempts to take advantage of the growing use of mobile phones to send money, according to a company statement Thursday. Similar to competitors such as San Francisco-based Stripe, Currencycloud provides the technical infrastructure that powers cross-border payments for banks and… »

Sixsentix recognised as one of Switzerland’s fastest-growing companies

Swiss software testing firm Sixsentix came third in a ranking of the 55 fastest growing Swiss companies, according to a study conducted by the Swiss papers Handelszeitung and Le Temps, together with the German market research company Statista. The firm, headquartered in Zurich, grew by an average of 187% year on year between 2012 and… »

China seen sustaining record fintech investments, Accenture says

The country’s financial-services giants will probably ramp up investments in areas including artificial intelligence, blockchain, so-called big data and cyber-security to improve their product offerings, Albert Chan, managing director of China financial services at Accenture, said in an interview last week. More money will go into technology such as robo advisors, online lending and investment&hel... »

Amazon Web Services errors disrupt big part of the internet

Amazon Web Services reported "high error rates" with its S3 service, which it describes as a "simple storage solution" that can be used to house data, manage web applications and host software that customers can download via the internet. S3 is used by nearly 150,000 websites, including ESPN.com and aol.com, according to SimilarTech.com, which profiles… »

HPE’s Whitman Struggles in Shift to Smaller Size, Cloud Pressure

Whitman on Thursday cut the company’s adjusted profit forecast for the current fiscal year, missing analysts’ estimates. At the same time, Hewlett Packard Enterprise reported sales that missed projections for the third consecutive quarter. Though citing some challenges beyond her control, Whitman said she pushed some executives too hard while the information technology provider frees… »

Big banks declare war on PayPal’s Venmo

Nineteen banks, including Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo, are teaming up to start Zelle, a website and app that will let users send and request money much as Venmo does. Bank of America says it is the first to incorporate all of Zelle's capabilities—including the ability to split bills between users—into its own mobile app,… »

Cyber Security Firm’s 50 Percent Drop Fuels Takeover Talk

In a statement issued late Tuesday, the company announced a review into its assurance division, which performed below expectations, and cut its full-year profit outlook by 20 percent. NCC shares were down 20 percent at 101 pence at 2:50 p.m. in London. The company’s market capitalization, which stood at just over 1 billion pounds ($1.18… »

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