Payments Solutions

We enable banks to meet the changing demands of an open, digitalised and real-time payments business, through innovative technology solutions and subject matter expertise

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.

Icon's approach:

Our Enterprise Services Pedigree: From inception, Icon consultants have designed and implemented state of the art integration architectures and data platforms, foundational for the robust processing of payments
The Icon Payments Blueprint: Reference models and accelerators based on extensive experience and best practices to develop a payments roadmap, speed up implementation and reduce costs and risk
Icon's Payments Solution, IPF: Provides a technical platform for transforming at speed to a real-time environment and enabling value added services that drive new revenue streams

Payments Solutions

We enable banks to meet the changing demands of an open, digitalised and real-time payments business, through innovative technology solutions and subject matter expertise

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.

Icon's approach:

Our Enterprise Services Pedigree: From inception, Icon consultants have designed and implemented state of the art integration architectures and data platforms, foundational for the robust processing of payments
The Icon Payments Blueprint: Reference models and accelerators based on extensive experience and best practices to develop a payments roadmap, speed up implementation and reduce costs and risk.
Icon's Payments Solution, IPF: Provides a technical platform for transforming at speed to a real-time environment and enabling value added services that drive new revenue streams

Payments
Solutions

We enable banks to meet the changing demands of an open, digitalised and real-time payments business, through innovative technology solutions and subject matter expertise

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.

Icon's approach:

Our Enterprise Services Pedigree: From inception, Icon consultants have designed and implemented state of the art integration architectures and data platforms, foundational for the robust processing of payments
The Icon Payments Blueprint: Reference models and accelerators based on extensive experience and best practices to develop a payments roadmap, speed up implementation and reduce costs and risk.
Icon's Payments Solution, IPF: Provides a technical platform for transforming at speed to a real-time environment and enabling value added services that drive new revenue streams

Payments Transformation

Moving from legacy to modern technology is complex. You require richer functionality but also need more flexibility. You want to be able to move at speed, but with lower risk. You need to meet ever rising regulatory and industry demand, be that introducing overlay services, grasping the opportunity of PSD2 and Open Banking or leveraging new real-time rails and methods of payment. And you need to do all of this whilst reducing costs. So how do we simplify these complexities?

Follow Icon's Principles for Payment Transformation:

Decouple the payments value chain to distinguish commodity from differentiation
Simplify the payment process flow to avoid repetition of processing task
Build with scale and resilience at the heart of every activity
Move from message driven payments to data driven 'smart' payments
Approach transformation with options through ease of integration.

CASE STUDY

Delivering a payments roadmap to meet the needs of a changing market

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Leveraging the Icon Centre of Excellence

Our unrivaled team of payments experts have the deep domain expertise and the specialist skills you need, whether it be fast-tracking payments projects or enabling full payments transformation.

Our payments subject matter expertise is brought together under the Centre of Excellence where our team collaborate on the Icon Payments Blueprint, to bring models, use cases, sample flows and thought leadership around the full Payments Value Chain to the benefit of clients.

Through our Centre of Excellence, we;

Deploy experienced practitioners – technologists and subject matter experts - who have designed and delivered major payments transformations projects for processing, data and value-added services
Help articulate the true power of payments - besides understanding the latest industry and regulatory requirements and trends (i.e. Open Banking, payments scheme implementations), we help to translate real business needs to IT requirements to deliver the roadmap and business case for the most appropriate payments solutions
Offer expertise and know-how to meet the challenges of transitioning to a 24/7/365 instant payments operating model
Enable empowerment. We train client resourced teams and augment their capability

CASE STUDY

Implementing a Ring Fence Banking Solution for a Major UK Bank

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IPF a dedicated payment solution to meet evolving business needs

Icon’s focus is to assist banks in the design and implementation of real-time payment architectures that meet the rigorous demands of the highly digitalised, open and disruptive world in which financial institutions operate.

In this context and with this experience Icon developed IPF, a new generation payments platform which empowers payment providers to serve customers by delivering personalised new payment services quickly, at low cost and with minimal risk.

The solution is built transparently, leveraging modern open source technology to provide flexibility, scalability, and exceptional resilience. The ease of integration into legacy environments allows the harnessing of existing assets where appropriate.

DISCOVER IPF

CASE STUDY

Powering instant payments connectivity on the Cloud

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Leveraging ISO 20022

ISO 20022 provides richer information flows, higher levels of straight-through processing and a more efficient compliance process. The results will be far greater customer satisfaction, improved digital fulfilment of compliance requirements, and faster, more flexible implementation or deployment of new data driven services or regulatory requirements.

Icon Solutions has a track-record of successful global ISO 20022 designs for Tier-1 banks, with RT1 and SEPA (Instant/Bulk) integrations being the most recent examples. We enable clients to navigate the ISO 20022 migration journey with minimum disruption.

We provide an ISO 20022 Impact Assessment Report which will review the impact of end-to-end ISO 20022 implementation on your:

Business processes to provide an overview of the magnitude of changes needed, the opportunities for monetisation, and the improvements to straight-through processing (STP) rates
Payments architecture to identify where the gaps are in supporting ISO 20022 and to provide a target architecture
Migration strategy to consider the various migration options, for example taking a big bang or a ‘pilot and test’ approach and to provide recommendations