The challenge
Our client, a major Swiss bank operating in a number of countries across the globe, selected Icon Solutions to assist them on their payments transformation journey after a competitive RFI/RFP selection process that took place over the course of fifteen months. The bank chose Icon's payments platform, IPF, as the core of its global payments transformation programme.
Our client wanted to transform their existing payments estate and were looking for a non-traditional approach that would provide a flexible framework to facilitate instant payments in seven different countries, while being able to take advantage of the low-code, cloud-native technologies that IPF provides. The bank also wanted the flexibility to gradually shift existing flows from their legacy payments systems (SCT, TARGET2, CHAPS, SWIFT) to the new infrastructure.
The first priority was to meet the regulatory deadlines for the new Swiss instant payments scheme, SIC5. The bank therefore needed a partner with a proven track record in delivering robust payments transformation strategies within short timescales.
Why Icon?
Icon’s payments product, IPF provides a low-code approach to payments transformation which offers significant benefits, including a safer and faster approach to change, along with a reduced reliance on engineering resource. This increases the transformational capacity for banks, enabling them to deliver key projects within fixed timescales, as well as providing innovative, value-added services to their customers.
Icon has real-world experience of what’s required to deliver a next generation payments capability. With a proven track record of successfully planning, architecting, designing and implementing innovative payment solutions, Icon's pedigree enables us to deliver the right solutions to each client's individual needs.
Icon's unique contribution
The Icon team brings extensive experience of payments architecture transformation from other major banks, fully supported by Icon’s industry-leading Payments Centre of Excellence (CoE) expertise and assets. Alongside this, Icon's payments platform, IPF is used by leading global banks to deliver more value and unlock new revenues, while lowering costs and reducing risk, giving our client peace of mind that their requirements can be fulfilled on time,and with exceptional quality.
