JPMorgan has made a strategic investment in payment and consultancy provider Icon Solutions.

The company specialises in mission critical transaction banking solutions and has also built IPF, a cloud native payments platform that combines open source technology with light-weight integration.

“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,” said Sara Castelhano, EMEA head of payments, digital and solutions at JPMorgan Wholesale Payments - who will join Icon's board.

Icon will use the new capital to invest in its technology and geographic reach, helping new and existing customers realise the potential of payments in the real-time, data-driven world.

Tom Kelleher, co-founder and commercial director at Icon Solutions, stated: “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," he added. "The right approach to transforming technology estates reduces costs, increases resilience and supports innovation to deliver more value, while staying in full control."

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