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Facebook’s Q1 results and five things for financial services

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With the release of Facebook’s Q1 2017 results, there are five things worth your attention about its strategy that are relevant for financial services. In its latest results, Facebook announced a major emphasis in solving for communities and reiterating the key messages from its F8 developer conference. Q1 2017 profit is +76.6% YoY to $3.06 […]

Hackers cybersquatting on hundreds of UK bank domains

And here go RUB 2 billion...

Cybersquatters have wormed their way onto hundreds of websites and are tricking web users into thinking they’re clicking on to UK high street bank websites. According to research by DomainTools, a DNS-based cyber threat intelligence firm, it found 324 registered domains using the trademarked names of five of the UK’s top high street banks – […]

Lloyds, Halifax and NatWest customers hit by online banking glitch

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The customers of Lloyds, Halifax and NatWest have all been affected by an online banking glitch that is preventing access to accounts and making payments disappear. The problems, which are not good at any time, have been exacerbated by the fact that today (28 April) is a payday for many in the UK, and 1 […]

Lloyds standing small with new micro-branches

Lloyds tech gallops offshore

Not only is Lloyds cutting branches across the UK, it is now making them smaller in size. With the well-known rise in digital banking, the bank has plans to introduce micro-branches. This means no counters, and two members of staff with mobile tablets to help customers who dare walk into a branch. A spokesperson for […]

Top fintech stories this week – 17 March 2017

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Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Lloyds in £1.3bn tech outsourcing deal with IBM

Lloyds tech gallops offshore

UK-based banking group Lloyds is to outsource its tech to IBM in a seven-year deal worth £1.3 billion. More than 1,900 jobs will be shifted to IBM and £760 million of costs will be cut as a result.

Lloyds, Halifax and TSB hit with online banking outages

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Customers of Lloyds, Halifax and TSB are unable to access their online accounts after a major outage. Based on Twitter feeds and the website monitoring service, Down Detector, there are problems across the UK. Many Twitter users, no strangers to tedious whinging at the best of times, are saying they can’t access accounts online or […]

Top fintech stories this week – 13 January 2017

Banking Tech 2

Catch up on Banking Technology’s top five fintech stories of the week – all in one place!

Credit card firm MBNA sold to Lloyds for £1.9bn

Lloyds in first acquisition since financial crisis

Credit card firm MBNA is to be taken over by Lloyds. The firm’s current owner, Bank of America, has agreed to sell it for £1.9 billion. The deal is expected to close in H1 2017.

More branches and jobs to go at Lloyds Banking Group

Lloyds-TSB-Commercial-Finance

UK-based Lloyds Banking Group is getting rid of further 49 branches and 665 jobs. The bank will offer services via mobile vans to the communities affected by the branch closures.

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