Funds firm Icon Options has secured a brand new fairness funding in a spherical led by UBS. Citi and NatWest, current Icon Options buyers, additionally participated.
The funding will assist Icon Options convey its Icon Funds Framework (IPF) to extra banks to allow them to develop and deploy new cost processing options sooner.
Headquartered within the UK, Icon Options made its Finovate debut at FinovateEurope 2017.
UK-based paytech Icon Options introduced a brand new fairness funding led by Swiss financial institution UBS. Citi and NatWest, present Icon Options buyers, additionally contributed funding. The quantity of the entire funding was not disclosed.
“This funding spherical is additional endorsement of our founding perception that banks needs to be empowered to steer their very own funds transformation,” Icon Options Co-Founder and Director Tom Kelleher mentioned. “With IPF now internationally confirmed and more and more adopted by main monetary establishments, we sit up for persevering with our shut partnerships with Citi, NatWest, and UBS to construct on this international momentum and ship really revolutionary and ground-breaking funds options.”
Each Citi and NatWest have deployed Icon Options’ Icon Funds Framework (IPF) to reinforce their respective funds applications. IPF provides banks a funds improvement framework that allows them to construct, take a look at, and deploy cost processing options sooner, permitting them to speed up the transformation of their very own funds infrastructure.
“This funding reinforces our partnership with Icon and confirms our dedication to ship sooner to market, future-ready cost options for our purchasers,” UBS Head of Group Operations and Expertise Workplace for Private & Company Banking and GWM Switzerland & Worldwide Pieter Brouwer mentioned. “The collaboration helps us drive innovation at scale and enhances our capabilities for seamless on the spot funds and superior transaction processing.”
Based in 2009, Icon Options demoed its know-how at FinovateEurope 2017 in London. The corporate’s core resolution—the Icon Funds Framework—is a cost improvement framework relied upon by tier 1 banks around the globe together with Citi, NatWest, BNP Paribas, and UBS. Constructed to combine seamlessly with a number of cost schemes, IPF helps monetary establishments speed up transformation of their cost infrastructure, whereas sustaining management of each timeline and prices. Cloud and ISO 20022-native, IPF reduces value of possession by as much as 50%, accelerates velocity to market by as much as 4x, and permits real-time funds adoption in six months.
This spring, Icon Options launched new Director of Individuals Hannah McKechnie. Previously Head of HR for the corporate, McKechnie, in her new function, will oversee Icon’s ‘Individuals and Objective’ applications, together with help for Icon’s partnerships with the Social Mobility Basis and with purpose-led know-how coaching and companies firm Digital Futures.
Photograph by Heidi Fin on Unsplash
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