NatWest selects Icon for Payments Modernisation
NatWest has selected Icon Payments Framework (IPF) to accelerate the bank’s payments modernisation as it continues to align with the new global ISO 20022 payment data message standards.
The partnership allows NatWest to initially leverage a Single Euro Payments Area (SEPA) processing engine along with ready-made scheme packs including the recently mandated SEPA Instant capability, in addition to existing Credit Transfer and Direct Debit capabilities that provides customers more choice and establishes the foundation for future innovation. The modernisation will enhance the end-to-end experience for customers as they seek greater flexibility in their initiation of payment flows.
The IPF framework empowers business payment experts via low code to create industry-leading workflows along with enabling software engineering teams to quickly extend and create highly customizable integrations into existing bank systems.
Ian Povey, CIO Payments Technology, NatWest comments:
“The low code aspect of the framework (Icon’s IPF) empowers and enables organisations to control its delivery and feature richness while the simple extensibility of the capability allows software engineers to focus on high value integrations and innovation.”
Tom Kelleher, Co-founder and Director of Icon Solutions comments:
“The mission at NatWest is to deliver a sector-agnostic payments platform to connect everything to everyone. IPF provides the best practice platform to enable the change the bank is working towards, increasing the opportunity to enhance business growth. The relationship between the two companies is a close one, where we both strive to achieve best practice on a daily basis. There are many challenges and opportunities ahead, such as New Payments Architecture (NPA), which we will face together.”
NatWest and Icon Solutions will be attending Sibos 2023 later this month. Find out more here: Sibos 2023
For further Icon Solutions media information, please contact Ellie Fingleton at iseepr: ellie.f@iseepr.co.uk / +44 (0) 113 350 1922
About Icon Solutions
Icon Solutions is a leading specialist provider of solutions and technology services that are simplifying banking transformation.
Icon is the past, present and future of payments. With a proven record delivering mission-critical solutions for global institutions, it is driving the next-generation of banking and payments architecture. Icon combines industry-leading domain experts, services, accelerator assets and technology that empower customers to solve problems, fight complexity and embrace change.
Icon has applied its payments, technical and integration expertise to create IPF: a low-code, cloud-native, open-source technology framework to accelerate payments transformation.