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Cost consultancy and expertise supplier Icon Options introduced a strategic partnership with Virtusa Company.
The partnership combines Virtusa’s funds implementation experience with Icon Options’ Icon Funds Framework (IPF).
Icon Options made its Finovate debut at FinovateEurope in 2017.
U.Ok.-based Icon Options introduced a strategic partnership with knowledge technique, knowledge engineering, and IT providers and options supplier Virtusa Company. The collaboration will convey Virtusa’s funds implementation experience to Icon Options’ Icon Funds Framework (IPF).
The aim of the partnership is to create an ecosystem during which banks and different monetary establishments can obtain their cost transformation targets. Icon’s IPF affords a low-code, cloud-native, open-source framework that empowers FIs to construct their very own cost processing options. IPF’s software program growth package and non-obligatory modules give monetary establishments the flexibility to make the most of Icon’s cost technique and structure with out the hazard of being “locked-in” to a given vendor’s expertise.
“Icon is dedicated to empowering banks to regain management of their funds and rework with confidence,” Icon Options Gross sales Director Liam Jeffs stated. “With Virtusa, we’re increasing our accomplice community to offer much more wealthy, collaborative alternatives to equip international banks with distinctive infrastructure that each streamlines their funds processing capabilities and helps them develop income streams.”
Based in 2009, Icon Options made its Finovate debut in 2017 at FinovateEurope. On the convention, the corporate confirmed how its expertise helped establishments within the U.Ok. undertake and deploy on the spot funds. Through its IPF platform and its group of advisors, Icon Options enabled monetary establishments that didn’t have the budgets and platforms of their bigger rivals to efficiently improve their funds expertise and transition to on the spot funds.
Since then, the corporate has grown 20% year-on-year. The agency additionally has partnered with monetary establishments resembling BNP Paribas, Lloyds Banking Group, Nationwide, and HSBC. Tier 1 banks around the globe use Icon Options’ IPF to speed up their cost transformations and introduce on the spot funds to their prospects.
Final month, Icon Options appointed Donal Fleming as its new Chief Expertise Officer. Fleming brings greater than 25 years of expertise within the banking and monetary providers trade to the corporate. He beforehand served as CTO for Credit score Benchmark and funds firm Modulr.
Virtusa was based in 1996. The corporate serves companies in life sciences and well being care, in addition to in banking and monetary providers. Virtusa has greater than 220 shoppers, and operates in additional than 25 nations. Baring Non-public Fairness Asia acquired the Massachusetts-based agency in 2020 in an all-cash deal valued at $2 billion. Virtusa co-founder Kris Canekeratne is Chairman and CEO.
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