Case study

The successful transformation of a global bank's payment landscape with IPF

The challenge

BNP Paribas, one of the world’s largest banks which processes some of the highest payment volumes in the EU, had a requirement to introduce instant payments across three European territories.  However, the Bank recognised that their existing payment platforms would present significant operational and technological challenges.

Icon's solution 

BNP Paribas chose Icon’s IPF solution, a modern payments platform that combines open source technology with light-weight integration enabling organisations to process payments and deploy value added services, quickly, cost effectively and resiliently.

IPF was selected for its industry certifications with EBA Clearing’s RT1 system and SIAnet, plus the STET certification which was achieved in just 5 weeks. While Icon’s payments expertise and pragmatic transparent approach gave the bank confidence in a successful delivery.

Owing to the early successes achieved, Icon’s initial project scope was expanded to support an additional scheme pack for a fourth country and BNP Paribas' wider payments transformation initiative. Icon is working on the migration of SEPA CT onto the new platform and is also advising the Bank more broadly on its new payment architecture.

Icon delivered:

  • Icon successfully achieved fast track deployment of IPF from discovery to payment processing in just months, comfortably enabling the Bank to meet their challenging timeline for an instant payments pilot
  • Full system certification and a successful go-live pilot for the first European SEPA Inst scheme, was delivered in just six months
  • Following the initial successful rollout, Icon was asked to continue advising on and to deliver the Bank’s international instant payments plans
  • IPF successfully provided a proven path and platform for longer term self-adoption by the bank, who were empowered to make autonomous changes to processes and flows, saving time and resources
  • The use of open-source components enabled the client to benefit from the latest and most innovative technologies available and fast tracked the creation of new and enhanced services for today and the future.

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