Since its formation, Icon has also defined and built IPF: a cloud native, highly cost-effective and collaborative payments platform that combines open source technology with light-weight integration.
The investment from JP Morgan marks a significant step in the firm’s growth as it continues to build on its global footprint.
Sara Castelhano, EMEA Head of Payments, Digital and Solutions, J.P. Morgan Wholesale Payments, commented: “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.”
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.
“The payments industry has woken up and realised that the money is in value-added services, not payments processing. The right approach to transforming technology estates reduces costs, increases resilience and supports innovation to deliver more value, while staying in full control.
“The investment with J. P. Morgan enables Icon to accelerate our plans and be perfectly positioned to help banks leverage this opportunity to drive new revenues and further develop existing business lines.”