Icon Solutions Publishes 2023-24 Annual Report

London, UK: Icon Solutions has published its 2023-24 Annual Report, demonstrating how new strategic partnerships, product and service innovations, and an ongoing commitment to its people and customers have provided a foundation for the next phase of global growth.

Forging strategic partnerships with Citi and NatWest

In September 2023 NatWest selected the Icon Payments Framework (IPF) to accelerate its payments modernisation programme. This was followed in December 2023 by Citi expanding its use of IPF to enhance its micro-services orchestration architecture, as part of its own multi-year payments platform modernisation. Both Citi and NatWest also made strategic investments in Icon – with executives from both organisations joining the Board of Directors.

A commitment to product innovation

IPF is Icon’s unique contribution to the payments industry. It is the only proven payments accelerator framework in the market that combines thousands of hours of hard-won payments experience, built over decades at the ‘coalface’, with deep technological know-how.

In 2023-24 Icon continued to invest in IPF functionality, releasing new product updates to help banks balance instant payments scheme compliance and ISO 20022 migration with strategic innovation and cost-cutting priorities.

Helping banks strategise, architect and deliver payments modernisation

The report also details how Icon’s Services team continued to help customers steer and deliver technology transformation, supporting modernisation programmes across payments, fraud, financial crime and ISO 20022 compliance.

Services has also played an important role in supporting IPF deliveries, ensuring customers get the best use of Icon’s market-leading technology.

Looking ahead to 2024-25

In the new financial year, Icon continues to enhance the IPF product roadmap with new features and modules to help banks respond to customer demands, evolving regulatory requirements, and inevitable cost pressures. The company is also re-focusing its service offering on the core competencies that directly support IPF delivery and meet emerging client needs.

Download the Icon 2023-24 Annual Report

-ENDS-

For further Icon media information, please contact Ellie Fingleton at iseepr: ellie.f@iseepr.co.uk, +44 (0) 113 350 1922

Click here to read our privacy policy

About Icon Solutions

Icon Solutions is a payments solutions company providing financial institutions with technology, payments subject matter expertise and multi-disciplined services. Financial institutions engage these capabilities on their payments transformation journey from defining their payments strategy through to accelerating IPF-based solutions built by their in-house engineering teams, by Icon and/or by a Systems Integrator.

The Icon Payments Framework (IPF) is Icon’s major contribution to the payments industry. It is the framework that underpins payments orchestration solutions and sits at the heart of the core payments architecture of banks such as Citi, UBS, NatWest and BNP Paribas. Leveraging the IPF software development kit, banks can easily, quickly and safely deliver payments systems with a low total cost of ownership. IPF also features a range of additional optional modules and ready-made integration to clearing and settlement schemes to accelerate the implementation of end-to-end payments solutions.