Technology

Anticipating recession, banks start scrubbing loan books; how Trump's political appointees thwarted tougher settlements with two big banks; the Fed's plans on its real-time payment service; and more from this week's most-read stories.

The U.K.’s Equals Group’s FairFX currency unit has purchased Hermex FX, another U.K. firm serving corporate customers with currency exchange and payment services.

Square has launched Square Terminal in Canada in an effort to lure merchants that use myriad iPads, tablets and smartphones to receive payments in stores and remotely.

Lightico is focusing on how users engage with institutions on a mobile device, something the company believes is a shortcoming among card issuers.

Marqeta was in on the API digital payments game early, but rivals from Stripe to Wirecard are aggressively expanding digital payment solutions for diverse consumer and B2B use cases.

Most ATM update projects fail for a variety of reasons, such as the amount of time and effort required was simply underestimated, competing priorities get in the way, a lack of resources, a reliance on manual testing processes and procedures, according to Paragon Application Systems' Steve Gilde.

Issuers like Chase and Citi that added installment features to compete with digital lenders will need to think beyond traditional card options.

The rate on a 30-year fixed-rate mortgage dropped to 3.6%, a three-year low; Mary C. Erdoes, a top bank executive, allegedly pushed back against compliance department suggestions to jettison the controversial client.

Know Your Customer and open banking create tough barriers for 'near real-time' account opening, says Entersekt's Jennifer Singh.

Apple's massive user base, fully digital enrollment system, merchant reach and partnership with Goldman Sachs threaten retail banks on multiple fronts.