Citi
Citi retires 6% of its legacy applications – and 20,000 people
People take the hit to offset huge spending on tech, risk.
banks
Banks need to do better on operational resilience: Basel
"There is still work to do on developing appropriate business continuity and contingency plans and exit procedures where third parties provide critical operations"
ransomware
World’s Biggest Bank hacked: ICBC may have failed to patch "Citrix Bleed" vulnerability
Courier dispatched with a USB stick carrying trade settlement details after systems disrupted...
Banking
Endgame! Basel III rules put banking bosses on edge – IT impact also looms for CTOs
Rules demand "a significant uplift in terms of new data sourcing... IT leadership will need to carefully manage cultural and technical integration between internal risk and compliance teams"
Banking
Goldman Sachs stung as it dumps fintech, commercial real estate losses mount
Commercial real estate losses show scale of "remote work" damage on CRE area.
banks
Metro Bank wins a lifeline, but for how long?
Efficient at IT, but not much else looks hugely attractive
Citi
Citi appoints co-CIOs, as CEO says deep restructuring will make “some of our people very uncomfortable”
"We will focus on simplifying how we work"
QKD
HSBC joins BT, Toshiba's commercial Quantum Key Distribution network - but beware hackers with lasers
Dust off your math, review the literature with some strong coffee; envision a future fresh from a William Gibson novel...
banks
Banks’ IT spending in 2023 to hit $652 billion: Here's what some Big Spenders are focusing on...
From Citi's $1 billion "fat finger" and regulatory intervention driving a massive compliance overhaul, to major cloud migrations, spending continues at scale...
Banking
HMG eyes £800 million new Open Banking framework
HMG makes a lot of payments: The Department for Work and Pensions alone makes 2.5 million+ daily that are worth £3.7 billion per week.
JPMorgan
JPMorgan's technology spend to hit $15.3 billion as storage, compute volumes surge
A major application modernisation programme continues through a mix of refactoring, SaaS replacement and legacy decommissioning – with 2,500 decommissioned since 2017...
Enterprise IT
This retail bank has drawn a huge flurry of new users. Here’s why.
The retail banking market has heated up hugely in the UK in recent years, with the rise of digital-native banks like Monzo and Starling winning awards and customers – over seven million, three million respectively.) They hit the market with minimal technology debt, having built new stacks from the ground up,