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Computer Weekly – 19 July 2016: Building big ideas in banking

In this issue we visit JP Morgan’s European software development centre in Glasgow to see how the investment bank is working with local universities and collaborating in the open source community. Software chief, Stephen Flaherty, talks about how JP Morgan uses open source software and has now begun contributing to open source projects. The bank uses NoSQL and OpenStack technologies and is pushing the limits of Hadoop, to power risk applications, enabling it to achieve near real-time risk analysis of a trade.

Security industry largely welcomes NCA’s cyber crime recommendations: Most information security professionals support the National Crime Agency’s call for businesses to play their part in the pursuit of cyber criminals.

Banking on innovation: A look inside JP Morgan’s Glasgow developer centre: JP Morgan chief development officer Stephen Flaherty heads a team of developers in Glasgow, one of the bank’s strategic hubs. Computer Weekly finds out how it is pushing the technology boundaries for financial services.

Retail’s past is a poor guide to its future: John Lewis IT director Paul Coby says retailers need to respond to changing customer patterns and demands to survive the shift to multi-channel shopping.

Manage expenses to boost the bottom line: Expense management is one area of business where the application of IT can bring about double-digit cost reductions.

What EU data protection rules mean for business: The General Data Protection Regulation, which comes into force in May 2018, could have a big impact on any company in the world that deals with the personal data of EU citizens.

The rise of object storage in the cloud: Amazon S3 has emerged as a de facto standard for accessing data in the cloud. Computer Weekly runs the rule over its key attributes.

These are also closely related to: "CW E-Zine Demo"

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    In this week’s Computer Weekly, we meet the first ever chief digital officer for London, Theo Blackwell, and find out his plans to make the capital a smarter city. SAP has overhauled its controversial indirect licensing policy – we look at the implications for users. What are the jobs of the future in retail as the sector is transformed by technology? We ask the experts. Read the issue now.

  • Legal briefing: The Draft EU General Data Protection Regulation

     

    By Karin Retzer and Joanna Łopatowska

     

    On October 25, 2013, the European Council concluded that the new Data Protection Framework should be adopted in a timely manner in order to strengthen consumer and business trust in Europe’s digital economy.The Council did, however, refuse to commit to adoption by early next year.

     

    This conclusion follows on the heels of the European Parliament’s Civil Liberties, Justice and Home Affairs (LIBE) Committee vote setting out its position on a compromise text of the draft Regulation on October 21, 2013.

     

    After some 18 months of intense discussions and lobbying, the compromise text was passed by the LIBE Committee with a 49-3 majority. The compromise text was heavily influenced by the revelations of the surveillance activities of the U.S. National Security Agency (NSA).

     

    This report from Morrison & Foerster, sets out some of the most important changes for private sector organizations proposed by the LIBE Committee.

     

     

     Morrison & Foerster (MoFo) is a global law firm. Its clients include some of the largest financial institutions, Fortune 100 companies, investment banks, and technology and life science companies.

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