Increased competition, fragmentation of services and products, ever-more stringent regulations, new technology and geopolitical pressures have made the payments ecosystem complex, costly and difficult to navigate for all players involved.
At the same time, research indicates that banks are more willing than ever to find partners to offer non-differentiating services, like payment processing.
The growing imperative for financial institutions to find better ways to manage their payment processing needs and the willingness of banks to enter into partnerships means that there’s never been a better time to shift payments processing from a commodity to a business.
Banks have the strategic option of moving cost into revenue by adopting Payments Processing as a Business (PPaaB). Icon has the tools and the pedigree to define and execute a PPaaB strategy and support a successful transition.
At Icon, we have the expertise, solutions and unique ability to support your bank throughout the end-to-end process of defining and executing a PPaaB strategy.
Our specialist consultancy tailor-made to your requirements helps address the core building blocks needed for a successful transition, while our ground-breaking IPF solution leverages cutting-edge technology to accelerate payments transformation by enabling you to build your own payments solutions.
PPaaB providers need a transformation strategy built on where they want to be of value for banks in the payments processing value chain. Key strategic consequences like volume, speed, resilience and independence with a seamless and scalable user experience will need to be incorporated and addressed. Our approach is fundamentally different to traditional vendors and our solutions and expertise can help you create a strategy for success.
RESEARCH
The payments processing opportunity for banks
Icon commissioned Celent to carry out research exploring the payment processing opportunities for banks. The findings indicate that now is the time for financial institutions to shift their thinking.
Curious how transitioning to a PPaaB model can fuel growth?
Schedule a meeting with our experts to find out.
News
Icon Solutions has published its 2023-24 Annual Report, demonstrating how new strategic partnerships, product and service innovations, and an ongoing commitment to its people and customers have provided a foundation for the next phase of global growth.
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Icon Solutions today announces it has strengthened and expanded its strategic partnership with NatWest with the appointment of Ian Povey, CIO Payments Technology, and Lee McNabb, Head of Payments Strategy and Partnerships, as Board Observers.
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Icon today announces that it has developed and launched a new SIC5 scheme pack for its Icon Payments Framework (IPF) – the payments solution putting global banks in control – to accelerate support for domestic instant payments in Switzerland.
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