Icon Solutions secures investment from J.P. Morgan

By Megha Bhattacharya

British payment solutions provider, Icon Solutions has announced a strategic investment from J.P. Morgan. Icon stated that it will use the funds to invest in its technology, expand geographical reach and enhance the customer experience.

“We’re excited to support Icon with this strategic investment as they look to continually build a simplified, collaborative payments ecosystem, driving emerging payments rails and innovation,” said Sara Castelhano, EMEA Head of Payments, Digital and Solutions, J.P. Morgan Wholesale Payments. Sara Castelhano will also join the British company’s Board of Advisors.

Icon Solutions offers payments technology and expertise in developing, implementing and running mission-critical transaction banking solutions. It has also built IPF: a cloud-native, cost-effective and collaborative payments platform that combines open source technology with light-weight integration.

Tom Kelleher, Co-Founder and Commercial Director at Icon Solutions said, “We will benefit greatly from the scale and insight of a global banking leader and one of the most visionary technology companies in the world, with the flexibility and independence to pursue our innovation and growth roadmap.”

“The payments industry has woken up and realised that the money is in value-added services, not payments processing. The right approach to transforming technology estates reduces costs, increases resilience and supports innovation to deliver more value, while staying in full control. The investment with J. P. Morgan enables Icon to accelerate our plans and be perfectly positioned to help banks leverage this opportunity to drive new revenues and further develop existing business lines.”