UBS Invests in Icon Solutions, Enhancing Financial Technology Services

UBS Invests in Icon Solutions, Enhancing Financial Technology Services

Icon Solutions, a fintech company founded in 2009, made its platform debut at platformEurope 2017 in London, where it demonstrated its groundbreaking technology. Recently, the company has secured a new equity investment led by UBS, with existing investors Citi and NatWest also participating in the round. This strategic move aims to accelerate the modernization of payment platforms globally, focusing on delivering faster-to-market, future-ready payment solutions.

The investment will help Icon Solutions bring its Icon Payments Framework (IPF) to more banks. IPF is a payment development framework used by tier 1 banks globally, including Citi, NatWest, BNP Paribas, and UBS. The framework enables banks to develop and deploy new payment processing solutions faster, reducing cost of ownership by up to 50% and accelerating speed to market by up to 4x.

The collaboration between Icon Solutions and UBS is aimed at driving innovation at scale and enhancing capabilities for seamless instant payments and advanced transaction processing. UBS Head of Group Operations and Technology Office for Personal & Corporate Banking and GWM Switzerland & International Pieter Brouwer stated that the investment reinforces their partnership with Icon and confirms their commitment to delivering faster-to-market, future-ready payment solutions.

Hannah McKechnie has been introduced as the new Director of People at Icon Solutions. In her new role, McKechnie will support Icon's partnerships with the Social Mobility Foundation and with purpose-led technology training and services company Digital Futures. She will also oversee Icon's 'People and Purpose' programs.

The investment round is further endorsement of Icon Solutions' belief in empowering banks to lead their own payments transformation. The impact of this investment includes enhancing the capabilities of UBS and other major banks like Citi and NatWest to rapidly develop, test, and deploy payment processing solutions through IPF. This will enable banks to retain control over costs and timelines while executing their payments modernization programs.

Moreover, the investment will drive innovation at scale across the banking sector, as Icon enables banks to lead their own payments transformation with globally proven technology, furthering the adoption of innovative and groundbreaking payment solutions. UBS joining Citi and NatWest in shaping the strategic direction of Icon’s IPF, collectively influences the future of payments technology and infrastructure modernization worldwide.

In conclusion, UBS's equity investment in Icon Solutions is both a strategic move to modernize payment systems for faster, more efficient transaction processing and an endorsement of Icon’s leadership in the fintech space, facilitating enhanced collaboration and innovation among leading financial institutions.

[1] Icon Solutions Press Release, [Date] [2] UBS Press Release, [Date] [3] Icon Solutions website, [Date] [4] Citi Press Release, [Date] [5] NatWest Press Release, [Date]

1. The strategic investment from UBS into Icon Solutions, joined by existing investors Citi and NatWest, aims to expand Icon's Icon Payments Framework (IPF) to more banks, allowing them to develop and deploy new payment processing solutions faster and more efficiently.
2. The collaboration between Icon Solutions, UBS, and other tier 1 banks like Citi and NatWest will drive innovation at scale across the banking sector, utilizing Icon's globally proven technology to facilitate the adoption of modern, groundbreaking payment solutions.

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