GlobalData
1 min read
Icon Solutions, a UK-based payment technology company, has secured equity investment from UBS, with additional funding from existing stakeholders Citi and NatWest.
Financial terms of the transaction remain undisclosed.
This capital infusion is intended to support the ongoing development and strategic trajectory of the Icon Payments Framework (IPF).
The IPF is a developmental framework designed to assist banks in the rapid transformation of their payment infrastructure.
It allows financial institutions to independently build, test, and implement payment processing solutions, maintaining full oversight of project timelines and costs.
Icon Solutions co-founder and director Tom Kelleher said: “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.”
UBS GWM Switzerland & International personal & corporate banking Group Operations and Technology Office (GOTO) head Pieter Brouwer stated: “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.”
UBS, a Swiss wealth manager, joins Citi and NatWest in this investment, with the last two firms already using the IPF.
As of the fourth quarter of 2024, UBS managed assets worth $6.1tn, with operations across more than 50 international markets.
In 2024, NatWest acquired a minority stake in Icon Solutions.
"UK paytech firm Icon Solutions gets funding from UBS " was originally created and published by Electronic Payments International, a GlobalData owned brand.
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