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TLDR:
Key Points:
- NatWest Group has made a strategic minority investment in Icon Solutions, a fintech company specializing in payments technology.
- The investment is expected to accelerate NatWest’s strategic outcomes in the payment space and provide customers with more choices for payments innovation.
NatWest Group has announced a strategic minority investment in Icon Solutions, a fintech provider of payments technology and consultancy services. The investment comes after NatWest selected Icon Payments Framework (IPF) in September to enhance the bank’s payments modernisation efforts. IPF is a low code payment framework that allows businesses to create industry-leading workflows and customizable integrations into existing bank systems. NatWest’s investment in Icon Solutions is expected to accelerate the bank’s strategic outcomes in the payment space and provide customers with more choices for payments innovation. This investment is part of a payment platform modernisation plan to respond to the rapidly changing payment market. NatWest continues to build on its partnerships to drive innovation for customers and colleagues.
Mark Brant, Chief Payments Officer at NatWest, expressed that the investment in Icon Solutions is fundamental to modernising payments technology at the bank and improving customer service. By combining the scale and resilience of a bank with the speed and innovation of a fintech like Icon Solutions, new payment services can be introduced quickly and safely. Tom Kelleher, Co-founder and Director of Icon Solutions, noted that the investment represents a commitment to a future where payments are safe, immediate, and flexible. The ongoing partnership between NatWest and Icon Solutions aims to bring new payment services to customers efficiently and securely, while leveraging low-code technologies for cost-effective solutions.
