Karl Flinders

1 week ago | computerweekly.com | Karl Flinders

The UK’s financial technology sector, or fintech as it is widely known, will see a 32% increase in professional hiring this year, with cyber security and technology roles the most in demand. As the fintech sector matures, and companies underpinned by tech seek to expand product ranges, increased demand for tech-related roles is inevitable.

2 weeks ago | computerweekly.com | Karl Flinders

Lloyds Banking Group and Nationwide Building Society are set to roll out a generative AI (GenAI) tool that has been specifically designed for the UK finance sector. The tool, known as FinLLM, was developed in the UK by Aveni alongside the two financial services companies, with both also investing money in the firm. The large language model (LLM) is an attempt to offer GenAI designed for use in highly regulated UK finance companies.

2 weeks ago | computerweekly.com | Karl Flinders

HMRC has begun the process of breaking away from its heavy reliance on Fujitsu for IT services, with a tender worth £500m designed to exit the supplier’s services. In the clearest sign that HMRC is ready to break away from Fujitsu amid public pressure in relation to the Post Office scandal, it’s looking for a supplier for a 10-year Data Centre Exit (DCE) contract, which will begin in April next year.

2 weeks ago | computerweekly.com | Karl Flinders

Fujitsu was paid £80m by HM Revenue & Customs (HMRC) in March alone as its public sector business continues unabated, despite its involvement in one of the biggest miscarriages of justice in UK history. In the first quarter of this year, the IT giant received about £123m of taxpayers’ cash from HMRC alone, but although talks have begun, it is yet to commit to an amount it will pay towards the costs of the scandal it fuelled.

2 weeks ago | computerweekly.com | Karl Flinders

Financial technology (fintech) companies have a strong security posture but are at risk from third-party weaknesses, according to analysis. In its latest report, SecureScorecard stated that the fintech sector ranked highest of all sectors studied when it came to security posture, but it found potential third-party weak links could open the door to security breaches.