Payment providers need to cut costs, deal with increasing regulatory and competitive change, manage heightened fraud risk and differentiate to drive revenue growth through value-added services. Our payments services enable banks to meet the changing demands of an open, digitalised and real-time payments business, through innovative technology solutions and subject matter expertise.

Accelerating payments transformation to drive business value

Icon Solutions empowers financial services clients to accelerate their payments transformation by laying the foundations to innovate, drive new revenue streams and tackle the market disruptors, enabling our clients to find the opportunities in amongst the challenges. Our approach to transformation leverages Icon's accelerator assets.

The NPA initiative was set up to deliver a new real-time payments infrastructure providing enhanced resilience, a wider range of payment types and adopting ISO 20022 data. In late 2023 the NPA programme was paused, subject to a payments strategy review led by HM Treasury. With this delay to NPA, Pay.UK is considering potential shorter-term enhancements to Faster Payments, the UK's existing real-time payments system.

Banks have the strategic option of moving payment processing from a cost centre to a revenue stream by adopting the Payments Processing as a Business (PPaaB) business model. Our solutions support this payments transformation, enabling banks to develop new revenue models and increase control over their profit margins.

There has been a recent explosion of interest as new revenue opportunities are emerging. With many banks embarking on payments data monetisation strategies, few can afford to be left behind. 

Read our 'Expectation versus reality for payments data monetisation' research paper here.

The scheme is not a new concept, however with rising globalisation and the increasing need for interoperability of payment flows, the standards have gained momentum – pushed further by the wide global adoption of instant  payments.

Request to Pay is one of the most talked about initiatives in the payment industry at present. Allowing new flexible ways for money to move between people, organisations and businesses, it can be viewed as an enabling mechanism for a range of different payment scenarios or use-cases.

You can read our Demystifying Request to Pay eBook here.


The payments processing opportunity 

To better understand these challenges, Icon commissioned Celent to carry out research exploring the payment processing opportunities for banks, where they surveyed and interviewed senior executives at several tier 1 banks.


Enhancing the technology strategy for corporate payments

Find how Icon helped to sharpen and future-proof this bank's technology strategy for payables and receivables products.


Creating a platform for high volume payment processing

Learn how Icon enabled a Tier 1 bank to migrate to new technologies which were capable of executing enormous volumes of payments.


Unlocking the business value from payments data

Discover how Icon helped this global Tier 1 bank to realise the value available from their payments data, and use it as an asset to generate value for their customers and the bank.