Icon Solutions’ IPF selected by major Swiss bank for payments transformation

By Joy Dumasia

Icon Solutions has announced that its payments platform solution IPF has been selected by a major Swiss bank as the core of its payments transformation programme, including instant schemes, traditional ACH, and cross-border payments. 

Icon’s low-code, cloud-native, open-source IPF platform is used by leading global banks to deliver more value and unlock new revenues while lowering costs by up to 50% and reducing risk. IPF will offer the Swiss bank a flexible framework to facilitate instant payments, support emerging use-cases and gradually shift existing flows from legacy payments systems to the new infrastructure. 

Toine van Beusekom, Strategy Director at Icon, comments: “Banks want to control their own destiny. Unlike restrictive traditional payment ‘hubs’ that stifle the ability to innovate and serve customers properly, Icon’s IPF solution offers a low-code approach that creates options. By sitting in the ideal middle ground between a heavy-code vendor solution and an in-house build, banks now can chart a safe, low risk path to transformation where change is simplified and accelerated, reliance on engineering resource is reduced, and transparency between business and IT functions is increased. This leaves banks with the capacity to focus on delivering value-added, differentiated services to their customers.”

Icon has provided expert services and technology to leading banks and payments companies for over 15 years. Born out of frustration with legacy infrastructure, IPF combines this extensive payments, technical and integration expertise and experience and is increasingly the solution of choice to simplify banking transformation. 

IBS Intelligence reported that Icon Solutions, a FinTech firm delivering payments solutions to the world’s leading financial institutions, has been awarded two top titles at the IBSi Global FinTech Innovation Awards 2021. The company has been recognised as the ‘Best Payment Hub/Wholesale Payments Implementation’ and ‘Most Effective DevOps Execution,’ reconfirming its prestige in the sector.