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.
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 will deliver a state-of-the-art real-time payments infrastructure, providing enhanced resilience and security, adopting the ISO 20022 standard for richer payments data, and enabling a wide range of new payments products for end-users.
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.
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.
CELENT RESEARCH
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.
CASE STUDY
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.
CASE STUDY
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.
CASE STUDY
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.
News
Banks are increasingly turning to ‘low code’ for payments processing to take control of their transformation journey. Independent research conducted by Celent on behalf of Icon Solutions estimates that software developer capacity constraints have impacted banks’ payment revenues by 5% over the past two years.
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News
Icon Solutions launches FedNow scheme pack for its Icon Payments Framework (IPF) - U.S. banks can now connect to the FedNow Service in record time to provide innovative instant payment services to customers, ensuring recipients have full access to funds immediately, allowing for greater financial flexibility when making time-sensitive payments.
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News
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.
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