Case study

Implementing a Ring Fence Banking Solution for a Major UK Bank

The challenge

Ring Fence Banking regulations require the separation of retail and SME deposits and lending from perceived “riskier” activities. This includes complex hedging and market making. Furthermore, any business operating outside of the European Economic Area (EEA) must also be outside the ring-fence.


A major UK retail bank spent considerable time trying to determine how to shape their solutions for Ring Fence Banking regulations. Implementing the required IT changes to their domestic payments estate left the Client under significant time pressure.

Icon's solution 

Icon formed a specialised, expert team to de-risk the delivery of the required IT changes to the client’s Payment Engine Platform, specifically covering Faster Payments and BACS. Working locally with the client, but in close coordination with the client’s offshore development capability, Icon diagnosed issues, designed a suitable solution and drove delivery assurance. 


Specifically, Icon:   

  • Provided a team of highly skilled individuals with experience of the client as well as knowledge and experience of the Payment Engine platform
  • Delivered without compromise to quality or without presenting additional service risk to the critical real-time, Faster Payments system (with its inherent immediate service characteristics)
  • Completed design, development and system test in only four months, being retained to help facilitate integration testing, and the seamless delivery of functionality in production
  • Implemented a feature-based delivery model that was used instead of a traditional waterfall development approach. Many of the processes implemented to achieve this new delivery model have endured and now form the foundation of the client’s Agile Scrum delivery methodology

Icon’s architecture and governance layer were key in the early stages of engagement. Combining Icon’s deep payments expertise and legacy system capabilities, Icon was able to challenge complex architectures and steer the client towards a solution most appropriate for both BACS and Faster Payments schemes.


During the delivery of the project, it was the ability of the Icon team to ensure fast and effective delivery, whilst also seamlessly introducing new processes, that delivered tangible long-term value to the client.

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