Tier 1 Bank JP Morgan Backs Payments Technology Provider Icon Solutions

UK payments technology provider Icon Solutions announced recently that it has received a strategic investment from top tier bank J.P. Morgan. The amount of the investment was not disclosed.

Icon Solutions has a proven track record developing, implementing and running innovative, mission critical transaction banking solutions. IPF, a cloud native, highly cost-effective and collaborative payments platform Icon has defined, architected and built combines open source technology with light-weight integration.

Icon will use the money to expand its technology and geographic reach, helping new and existing customers do more with less and realise the potential of payments in the real-time, 24/7, open, data-driven world.

Sara Castelhano, EMEA Head of Payments, Digital and Solutions, J.P. Morgan Wholesale Payments said: "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." Sara Castelhano will also join Icon's Board of Advisors.

Tom Kelleher, Co-Founder and Commercial Director at Icon Solutions added: "Investment from J.P. Morgan is recognition of our achievements to date in supporting the evolution of the payments industry. Looking forward, it's validation of our vision and ability to support ever-growing demand for technology transformation. 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."