What Icon Solutions does

Icon Solutions is a UK-based fintech founded in 2009 that develops and sells the Icon Payments Framework (IPF), a low-code payments development framework targeted at global Tier 1 banks. The company operates as both a software vendor and specialist consultancy, with a customer base that publicly references Citi, UBS, NatWest, and BNP Paribas using IPF in production. The core technology stack combines Java 17, Spring 6/Spring Boot 3, and the Akka framework (by Lightbend), which delivers a microservices architecture with 99.9999% uptime, ISO 20022 compliance, and reference implementations covering instant payments, cross-border payments, and DLT-based digital asset settlement. The platform is designed to give banks ownership of what they build on top of IPF, avoiding traditional vendor lock-in.

The business model blends software licensing for IPF with professional services revenue across three consultancy lines: Payments, Architecture, and Data & AI. Pricing is quote-based and undisclosed, with consultancy work charged on time-and-materials (day rate) or fixed-price contracts, and the company has offices in London (Wimbledon, headquarters) and New York. Go-to-market is direct enterprise field sales targeting Tier 1 banking executives, supported by content marketing (blogs, whitepapers, webinars) and presence at industry events such as Sibos and EBAday. Icon Solutions has secured strategic minority investments from three of its bank customers in succession — Citi (December 2023), NatWest (March 2024), and UBS (June 2025) — creating a tightly aligned investor-customer base. In 2026 the company received the King's Award for Enterprise in Innovation, the UK's most prestigious business accolade, and holds ISO 27001 certification for information security management.

Name

Icon Solutions

Legal name

Icon Solutions (UK) Limited

Website

https://iconsolutions.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

101–250 employees

Short description

Icon Solutions is a UK-based fintech founded in 2009 that provides the Icon Payments Framework (IPF), a low-code payments development platform, and specialist consultancy services to global Tier 1 banks including Citi, UBS, NatWest, and BNP Paribas.

Ownership category

akta.pro rank

Product category

Payment Processing Software

akta.pro primary industry

Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN)

akta.pro secondary industry

Payment Orchestration Platforms (FSAGABAA)

Keywords

• Payments development framework
• Payment modernization software
• ISO 20022 compliance
• Payments consultancy services
• Core banking microservices

Headquarters

HQ city

Wimbledon

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Consultancy Services: Professional services including general consultancy, scoping and design, training, implementation, installation and integration services, and project management. Charged on time-and-materials basis (day rates) or fixed price. Day rates are charged for 7.5 hour days with overtime at 150% for work outside 8am-5:30pm weekdays.
2. Icon Payments Framework (IPF) Licensing: Software framework licensing for banks to build and deploy payment processing solutions. IPF is described as a product that gives banks ownership and control, suggesting licensing model for framework usage.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels7 records

Core offering

Icon Solutions develops and licenses the Icon Payments Framework (IPF), a low-code, ISO 20022 compliant, microservices-based payments development framework built on Java 17, Spring 6/Spring Boot 3, and Akka, designed to let banks rapidly build, deploy, and own their payment processing infrastructure. The company also delivers associated payments, architecture, and data & AI consultancy services to support banks' end-to-end modernization programmes.

Product overview

Icon Solutions offers a unified product portfolio centered on the Icon Payments Framework (IPF), a low-code payments development platform launched in 2020. IPF sits at the heart of banks' core payments architecture and underpins payments orchestration solutions. The company complements its flagship IPF product with three specialized consultancy service offerings: Payments, Architecture, and Data & AI services. This product-plus-services model allows banks to either use IPF independently or engage Icon's expert consultants for guided transformation journeys.

Differentiator

Problem solved

Functional benefit

Brands

• Icon Payments Framework (IPF): An internationally proven payments development framework trusted by banks across the globe that gives banks the power to keep ownership over everything they build, with full control over timelines and costs.
• Icon Foundation

Products and services

• Icon Payments Framework (IPF) A low-code, ISO 20022 compliant, microservices-based payments development framework built on Java 17, Spring 6/Spring Boot 3, and Akka, launched in 2020, that enables global banks to rapidly build, deploy, and own their own payment processing infrastructure with 99.9999% uptime, up to 4x faster delivery, and up to 50% lower TCO. Used by Citi, UBS, NatWest, and BNP Paribas.
• Payments Consultancy Services
• Architecture Consultancy Services Digital transformation consulting services spanning from strategy to technical design, helping banks define target architecture supporting agility, innovation, and continuous improvement.
• Data & AI Services AI-powered solutions and consulting services using AI to unlock the value of payment data, including AI-enabled payments solutions, compliance automation, and data strategy for banking clients.

Quantifiable outcome

• Build payment capabilities up to 4x faster than traditional approaches
• +3 more outcomes

Named customers4 records

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability10 records

Feature5 records

Partnerships

Two partnerships are on record, tiered supporting and core.

• LightbendsupportingTechnology or IntegrationLightbend partnered with Icon Solutions to create a special release of Alpakka (v7.0.1) to support Jakarta Messaging as part of IPF's Java 17/Spring 6/Spring Boot 3 upgrade. Akka (by Lightbend) is the underlying non-blocking, message-oriented, async framework used by IPF.
• Akka (Lightbend)coreTechnology or IntegrationAkka is the non-blocking, message-oriented, async framework underpinning IPF, providing event sourcing, clustering, and other core capabilities that enable 99.9999% uptime reliability for mission-critical payment processing.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Finastra: Large incumbent financial software vendor with broad payments, core, and channel solutions; competes with IPF on payment modernization RFPs at Tier 1 banks.
• Mambu: Cloud banking platform offering deposit, lending, and payment orchestration capabilities to banks; addresses overlapping modernization use cases with a SaaS composable model.
• ACI Worldwide: Established provider of real-time, low-value, and wholesale payment processing software to banks, directly overlapping IPF's payment orchestration and clearing/settlement capabilities.
• Temenos: Global core banking and payments software vendor with deep Tier 1 penetration; competes for payments transformation spend alongside IPF deployments.
• Bottomline Technologies: Provider of payments, financial messaging, and treasury solutions to banks and corporates, with overlapping focus on ISO 20022 migration and payment orchestration.
• FIS: One of the largest financial technology incumbents offering core banking, payments, and processing platforms; competes for Tier 1 modernization mandates across multiple product lines.

Direct peers

• Volante Technologies: Specialist provider of payment processing and ISO 20022 modernization software to global banks, directly competing with IPF for the same Tier 1 modernization mandates.

Emerging players

• Thought Machine: Cloud-native core banking platform that competes for the same Tier 1 modernization budgets; though broader in scope than IPF, it overlaps in payment orchestration and account processing.
• 10x Banking: Cloud-native banking platform targeting Tier 1 and Tier 2 incumbents with a modern core and payments stack, competing for the same transformation mandates as Icon.

Regional players

• TietoEVRY: Nordic-headquartered banking software and services provider with payment modernization offerings; comparable in serving regulated Tier 1 banks but with a different geographic stronghold.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/icon-solutions
• Xx.com/iconsolutions

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds4 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Icon Solutions