Icon Solutions, a UK-based fintech specializing in the development of state-of-the-art payment systems, has recently announced a new equity investment from UBS. The company also secured additional funding from existing investors Citi and NatWest.
UBS will join Citi and NatWest, who are already utilizing the Icon Payments Framework (IPF) to advance their respective payments modernization programs, in shaping the strategic direction and ongoing development of IPF. IPF is a payment development framework designed to empower banks with the technology and processes needed to independently accelerate their payment infrastructure transformation. This enables them to build, test, and deploy payment processing solutions more rapidly while maintaining control over timelines and costs. IPF is currently employed by Tier 1 banks globally, including Citi, NatWest, UBS, and BNP Paribas.
Pieter Brouwer, Head of Group Operations and Technology Office (GOTO) for Personal & Corporate Banking and GWM Switzerland & International at UBS, commented on the investment: “Icon, an important partner of UBS, plays a crucial role in modernizing payment platforms with innovative infrastructure solutions.” Brouwer added that “This investment reinforces our partnership with Icon and confirms our commitment to deliver faster to market, future-ready payment solutions for our clients. The collaboration helps us drive innovation at scale and enhances our capabilities for seamless instant payments and advanced transaction processing.”
Tom Kelleher, Co-Founder and Director of Icon Solutions, stated: “This investment round is further endorsement of our founding belief that banks should be empowered to lead their own payments transformation. With IPF now internationally proven and increasingly adopted by major financial institutions, we look forward to continuing our close partnerships with Citi, NatWest and UBS to build on this global momentum and deliver truly innovative and ground-breaking payments solutions.”
Established in 2009, Icon Solutions has focused on designing and implementing advanced payment systems. UBS, headquartered in Zurich, Switzerland, is a leading global wealth manager and universal bank in Switzerland, managing $6.1 trillion of invested assets as of the fourth quarter of 2024.
