The rush towards digital transformation, further accelerated by connectivity demands placed on businesses of all kinds during the pandemic, has – for all its positive benefits – left IT functions in something of a security deficit. Every new online tool is an avenue through which an attacker could enter a network and deploy ransomware and the problem is only set to get worse in 2023.

The last few years have seen multiple financial services organisations sprinting to provide the very latest, cutting-edge, digital customer service channels. 

Not a trot, not a jog, but a definite sprint. 

The Swift Board of Directors today announced that Yawar Shah has stepped down, retiring from the Board after 16 years as Chair.

Shared bank branch operator OneBanx has closed on a £1.27 million raise on Crowdcube.

It would take a brave, and some might say foolish, commodities-focused financial institution to announce that it will convert to blockchain tomorrow. More than five years since the Australian Securities Exchange (ASX) stated it would re-platform with blockchain, the project has resulted in a huge $168 million loss for the exchange. When you take into context that most commodities trading firms still do not have automated confirmations, we must chart a journey to tokenization and not make commitments to shift the market overnight.

Debit as a service platform, Currensea, has been selected for the Mastercard Start Path Open Banking program, an award-winning, global start-up engagement program.

Through the program, Currensea will have the opportunity to access Mastercard’s global payments expertise – with increased collaboration with Mastercard and access to its trusted global network which will help the fintech to scale and meet its longer-term growth plans.

Jack Henry™ today launched a new policy management solution to its Governance, Risk and Compliance (GRC) Suite. It will streamline policy creation, review, approvals, attestations and exceptions with workflows, documentation, and storage within a single platform. As a result, financial institutions can maintain compliance with improved ease, consistency and accuracy.

Sift, the leader in Digital Trust & Safety, today released its Q4 2022 Digital Trust & Safety Index, which found that chargeback dispute rates have risen over 35% since Q1 2022, as everyday consumers increasingly seek to claw back money from businesses.

Starling Bank is today rolling out its first savings product offering a guaranteed return of 3.25% over one year on balances of £2,000 or more. The new Starling 1-Year Fixed Saver is built seamlessly into the Starling app for maximum visibility and control.

TransUnion, a global information and insights company and one of the UK’s leading credit reference agencies, has been ranked in The Inclusive Top 50 UK Employers List 2022/2023, in recognition of its continued dedication to workplace diversity.

Compiled by Inclusive Companies, the list encompasses all types of diversity and has become the definitive cross-industry index harnessing both best practice and innovation, with the goal of driving inclusion for all.