NEWS
NatWest invests in Icon Solutions , reinforcing commitment to payments modernisation
NatWest has announced a strategic minority investment in Icon Solutions , a leading FinTech provider of payments technology and consultancy services . The investment follows the news last September that NatWest selected Icon Solutions Payments Framework ( IPF ) to accelerate the bank ’ s payments modernisation .
Launched in 2020 , IPF is a low code payment framework that empowers business payment experts to create industry leading workflows , along with enabling software engineering teams to quickly extend and create highly customisable integrations into existing bank systems . The investment and ongoing partnership with Icon Solutions is expected to accelerate NatWest ’ s strategic outcomes in the payment space , provide customers more choice and lay the foundation for future payments innovation .
It forms part of a payment platform modernisation plan which will build on the bank ’ s existing relationships and accelerate its ability to respond to the rapidly changing payment market . By making strategic investments , NatWest continues to build on its long-standing partnerships to drive innovation for customers and colleagues .
Mark Brant , Chief Payments Officer at NatWest , said : “ Our relationship with Icon Solutions has already helped us to bring our payments estate to life . This investment is fundamental to the delivery of our modernisation in payments technology , which will enable us to better serve our customers and to remain at the forefront of the payments industry .
“ We continue to play a major role in developing payment innovations for the future , embracing new technologies , standards and capabilities to shape the future of the payments landscape while improving customer experience .
“ Combining the scale and resilience of a bank with the speed and innovation of a FinTech like Icon Solutions means we can bring new payment services to our customers quickly and safely .”
FinTech chiefs debate AI skills crisis in UK Parliament
Over 90 industry experts , academics and tech leaders attended the debate , where the UK ’ s plans for AI skills were finalised .
Leaders from the technology industry have issued an urgent warning for the government to increase regulation and investment in Artificial Intelligence ( AI ) technology .
Speaking at the Parliamentary AI and FinTech Summit , which was hosted by Dean Russell , MP for Watford , and chaired by Steven George-Hilley of Centropy PR , proposals were put forward for businesses to work with the government to increase training around AI in the FinTech industry .
Simana Paul , Global VP of Engineering at SumUp said : “ The discovery and innovation in AI in the current century can be compared to the discovery of electricity in the 18th century , which was embraced by humanity and has evolved over time . As we have put necessary controls to make electricity safe for everyone , we need AI governance . In the current turbulent macro-economic conditions , when the investment in FinTech is drying up , embracing AI would be the differentiator to survive and thrive .”
Khalid Talukder , Co-founder of DKK Partners , added : “ Innovative technology is the driver behind the future growth of not just the FinTech industry but the wider economy as a whole . Collaboration between the government and industry in areas such as AI is essential to improve core business processes such as treasury management for SMEs that can only lead economic growth by being more efficient .” www . intelligentfin . tech
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