finance

CFOs are focusing heavily on improvements in the accuracy and timeliness of information as part of a drive to boost their effective decision-making capability, according to research from the Hackett Group. But cost pressures may keep them from investing heavily in the effort.

State Street Corporation says technology must evolve to meet the increasingly demanding needs of financial services.

SAP has vowed to triple its financial services business, and become the largest IT supplier to banks within three years.

If anyone doubts the need for a critical alliance between finance and IT, go see Earl Fry. Fry, who is the CFO at data integration software and services firm Informatica, and has purview over IT, encourages his vice president of finance and the CIO to frequently have lunch together. He says this one-on-one time helps when they have to make critical decisions.

An investment fund that hid flaws in a computer application that set the fund's strategy for making trades has agreed to pay a $25 million SEC fine and pay back $217 million in losses suffered by investors because of the problem.

Financial institutions are starting to jump onto the green bandwagon, identifying and evaluating environmental market opportunities and offering green financial products.

CIOs have a new acronym to learn -- and fast: IFRS.

Armonk, New York-based IBM Corp. released on Tuesday an analytical application to provide banks and financial institutions better visibility and management of credit risk across loan portfolios.

The Tokyo Stock Exchange plans to launch its next-generation trading system on the first business day of 2010, it said Tuesday.