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OMG addresses data sovereignty issues in the cloud

Richard Soley

The Object Management Group has formed a new working group to study issues of documenting and controlling data across distributed cloud environments, a big inhibitor of cloud for those with strict data sovereignty requirements such as banks and financial services firms.

Financial services firms still cagey about cloud computing

Cloud computing concerns [Click to enlarge]

Cloud computing is becoming more prevalent throughout the financial sector but many firms say they are less than halfway to having a firm cloud strategy in place, with controls and security remaining primary concerns.

BT gets personal with on-the-fly video message service

Click to play video

BT has formally today the availability of a personalised video capability as part of its Cloud Contact portfolio of services following pilot project with two UK retail banks. The system, which allows businesses to email individually tailored videos to millions of customers by integrating relevant data with video templates, was developed by Israeli marketing technology specialist Idomoo.

Financial services disruption – why I’m backing the banks

Len Padilla is NTT Communications in Europe

For banks, a race to remain relevant is on. In the past few weeks, Lloyds Banking Group has announced its intention to double-down on digital banking, closing branches and cutting costs. In the US, BBVA Compass announced that its agreement with startup Dwolla to offer real-time payment facilities to customers makes it the first mainstream bank to open its technology platform to digital developers like Dwolla

Financial institutions ramp up IT innovation

Consumers still don't understand the risks of card fraud, according to Aite

Banks and other financial institutions are finally spending more on growing new products in areas such as mobile and data analytics rather than maintaining legacy systems, according to a new report by Capgemini.

Banco Macro opts for cloud

Argentina’s Banco Macro will use the Mambu cloud as the basis for a new business unit, which will offer loans to micro-enterprises and small businesses. The aim is to provide a lifeline to areas that have historically lacked access to financial services.

Westpac makes digital banking push through IBM private cloud

New Zealand's NZX is now connected to BT Radianz Cloud

Australian bank Westpac has signed up IBM to assist a major digital banking push in New Zealand. The bank plans to use IBM’s private cloud technology to build mobile services and social media presence.

Six reasons why cloud computing will transform the way banks serve clients – and the five hurdles to overcome

Alastair Brown is head of eChannels at RBS global transaction services

The European Commission wants to bring down the barriers to cloud computing in a move that promises to revolutionise the way transaction banks can serve clients.

New legs for legacy systems

Mohit Joshi. is senior vice president and global head of financial services at Infosys

Unlike manufacturing companies, which run their operations on a single predominant ERP system supported by a few auxiliary solutions, banks have added layer upon layer of technology, ending up with an unmanageable snarl of systems and applications. Just to put things in perspective, it is estimated that on average global banks have more than 5,000 applications.

Macquarie revamps reconciliation with Gresham Computing and Amazon Web Services

Bill Blythe, Business Development Director Gresham Computing

Australian broker Macquarie Futures has begun using a cloud-based reconciliation service from Gresham Computing and Amazon Web Services, which the broker says will help it to make its North American derivatives business more efficient.