The Enterprise Data Management (EDM) Council has released a new version of its Financial Industry Business Ontology (FIBO) along with new tools and functionality to accelerate adoption of the industry standard.

High street bank HSBC was forced to apologise to UK customers after its online banking service went down for a chunk of Friday.

GFT, the global IT consultancy for the financial services industry, today announces the results of a global survey into retail bank’s attitudes towards digital transformation. The results show that the UK is one of the most mature markets with a staggering 100% of retail banks saying they have a digital transformation strategy in place.

Cybersecurity researchers at BAE System believe that a hacking crew operating out of North Korea were behind a recent malware and money-moving attack on Far Eastern International Bank in Taiwan.

(Bloomberg) -- Regulators worldwide are finding that it’s incredibly hard to control the explosive growth of money tied to no nation.

A Taiwanese bank has become the latest to fall victim to hackers planting malware on its servers and sending unauthorised, doctored messages through the interbank Swift network.

Global digital payments volumes are predicted to increase by an average 10.9 percent through to 2020, reaching nearly 726 billion transactions, according to the World Payments Report 2017 (WPR 2017).