Icon Solutions featured in The Sunday Times
9th November 2020 – Icon Solutions, the leading provider of technology solutions and real-time payments expertise, was yesterday featured in The Sunday Times report by Raconteur on ‘The Future of Banking and Capital Investment.’
Coronavirus has shaken the UK’s personal finances and customers are calling on banks to play a role in economic recovery, but how well placed are they to do so? Simon Wilson, Co-Head Payments at Icon, was asked if banks are doing enough to help people?
“Banks have a generational opportunity to truly support customers through an unprecedented crisis, but years of inaction on creaking infrastructure is thwarting best intentions to protect lives and livelihoods,” answers Simon.
Wilson says the banks are doing everything they can to support people who have been hit financially by COVID-19, but the speed of their response has been undermined by lacklustre digital innovation in the years leading up to the pandemic.
“At a time where customers have necessarily embraced digital platforms and need personalised, immediate and reliable services to meet their unique and rapidly changing circumstances, legacy systems that are inflexible, expensive and inhibit innovation just no longer cut it,” he says.
Transformation must be a priority, but this is easier said than done. “With customers needing support now and internal resources under pressure, transformations that have historically been risky and take years are a hard sell,” says Wilson.
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