During the Asia-Pacific Economic Cooperation forum in China on Monday, the Azerbaijan branch of VTB Bank announced it has hired Chinese technology company Huawei Technologies to upgrade its facilities. Huawei is considered a global leader in information and communication technology solutions. Andrey Kostin, the president and chairman of VTB’s management board, and Meng Wanzhou, the executive board director at Huawei Technologies, signed and finalized the agreement.
Financial regulator ASIC has lobbied the Government to expand the agency’s powers so it can receive telecommunications data from law enforcement bodies to aid in its efforts to combat financial crime. In a recently published submission to a parliamentary committee investigating financial-related crime, the Australian Securities and Investment Commission argued that the national broadband network would render existing sources of data – such as call records – obsolete.
St George Bank has activated Touch ID login for its iOS mobile application following the successful implementation and trials of the biometric technology by subsidiary, Bank of Melbourne. iPhone 5s, iPhone 6, and iPhone 6 Plus users who own a St George account can now use Apple’s Touch ID fingerprint sensor to log into the app rather than typing account details each time. Support for the Android-based Samsung Galaxy S5 is expected to go live “in the coming months”.
The boards of Australia’s top four banks increasingly see information security as an issue worthy of their focus, according to the security chiefs at ANZ, Commonwealth Bank, National Australia Bank and Westpac. Taking part in a spirited and congenial discussion at the annual AISA conference in Melbourne, the four executives described how their organisations today regard the IS function as essential and no longer view it through the narrow lens of compliance and cost.
Line, the messaging app with nearly 500 million registered users worldwide, is starting a new service in its home base of Japan. Nikkei is reporting that the company intends to help customers track their personal finances by spring 2015. If a user adds his or her bank’s official account to the friend list and verifies a bank account, they will receive notices from that bank when money is deposited or withdrawn. Users will also be able to confirm the current amount of cash in the account at any given time.
The Commonwealth Bank’s new CIO David Whiteing has offered up his thoughts on how the process of migrating users to the NBN could be improved, revealing security issues resulting from the connection of ATMs to the NBN. Communications Minister Malcolm Turnbull last month asked industry how the migration of users from copper services to the NBN could be fixed following difficulties with the first round of transfers.
Mumbai: Digital India is proving to be a magnet for global technology companies, a point driven home by the visits of three global executives to the country in September alone—a month that also sees manifold increases in the pre-Diwali offline and online sales pitches for electronic gadgets that Indians love to buy. On 15 September, Sundar Pichai, senior vice-president at Google Inc. A couple of weeks later, Jeff Bezos, president, chief executive and chairman of the board of the world’s largest online retailer Amazon.com Inc. This was followed by the visit of Satya Nadella, chief executive of Microsoft Corp.
BANGALORE: Vishal Sikka’s drive to put innovation at the core of Infosys culture to offer new products and solutions is underlined by the CEO promising to double company’s investment in its core banking product, Finacle, which until late last year was being considered to be sold-off. With Sikka at the helm, Infosys has shelved plans to explore selling off its banking product Finacle, as the Board of Infosys until late last year wanted to spin off Finacle and then look out for a buyer, two executives directly familiar with the development told ET.
By now you would have read what every person connected to the internet thinks about the iPhone 6. So, armed with a few iPhone 6 review units and a Telstra 4G sim, iTnews decided to do something a bit different and give our readers the chance to review the device. Given the new iPhone will offer an NFC-based mobile payments service, we took to mobility experts within Australia’s biggest banks to find out if the devices impressed the financial sector.
The Asian Development Bank (ADB) will be providing technical and financial assistance to help countries in the Open Government Partnership (OGP) implement their initiatives, announced Joe Powell, Deputy Director, OGP Support Unit. “The ADB’s support will focus on exploring opportunities to provide technical and financial assistance to help countries meet OGP eligibility criteria and to develop and implement OGP action plans,” he wrote this week in an OGP blog announcing the partnership.
Direct insurance business DirectAsia.com launched in Singapore in 2010, aiming to disrupt traditional Asian insurance models, bypass agents, and deal direct with the customer. After the successful launch, it expanded into Hong Kong in 2012, and Thailand the following year. The acquisition by specialist insurer, Hiscox, at the end of Q1 2014, signalled the start of a new chapter in DirectAsia.com’s development.
SINGAPORE: Banks and financial services companies in Singapore are increasing their spending on cyber-security to keep IT systems safe from attacks, with 60 per cent indicating they will up such expenditure this year compared to 2013, according to recruitment firm Robert Half. Singapore’s average of 60 per cent of financial institutions indicating increased IT security spending in 2014 was the highest percentage of the six markets surveyed, well above the global average of 50 per cent, it added.