Leading provider of payment technology solutions in the UK
Icon Solutions is a UK-based independent IT payment consultancy and technology provider, serving financial institutions worldwide. They specialize in instant payments and API banking, helping banks leverage the latest technologies to reduce costs, boost revenue, and ensure regulatory compliance. Their flagship product, the Instant Payments Framework (IPF), enables fast and cost-effective integration with core banking systems, driving efficiency and innovation in the payments sector.
Darren Stone
Support & Operations Manager
“With InterVenture, we found a company with a very similar ethos to Icon Solutions. The engineers have a brilliant communication style; it feels like working with the team back in Wimbledon. Everything just clicked into place. We now have an excellent engineering team, and the proximity to Belgrade is ideal. In the London market, it was difficult to find high-quality engineers, but InterVenture made it easy for us. There have been no issues in terms of HR, payroll, and ramping up the team in a short space of time.”
The challenge.
Icon Solutions had previously collaborated with a large nearshoring partner but struggled to secure top-tier engineering talent, which hindered the development of their Instant Payments Framework (IPF) and delayed project timelines. They needed a partner who could provide a dedicated team of experts skilled in Java, Akka, and Spring to support the development and growth of IPF V2, which introduced advanced features like strict typing, event sourcing, and CQRS for improved state management and observability. Additionally, they aimed to replace IPF V1’s outdated UML-based flow definitions with a JetBrains MPS tabular editor, aligning with domain experts’ needs. With a strong reputation for engineering talent, Serbia became the ideal location, leading Icon to partner with InterVenture.
The solution.
We assembled a team of 15 Java engineers to support the development of Icon Solutions’ IPF solution enabling banks like Citi, BNP Paribas, UBS, and NatWest to enhance their real-time payment systems. The team built core components from scratch, using Java, Spring Boot, Kafka, and AWS technologies, facilitating seamless integration with national and international payment schemes, and improving system efficiency and scalability. They also developed custom notification services, which optimized communication between financial institutions and clearing systems for faster, more reliable payment processing. With a flexible and scalable architecture, their Instant Payment Framework now offers banks the choice of implementing their own integrations or utilizing Icon Solutions’ full-service support.
Technologies in detail.
The outcome.
The InterVenture Icon Solutions Team:
- Scaled and supported the development of IPF solutions using a modern tech stack, including Spring, Akka, Kafka, and Docker.
- Contributed to the launch of a new version of IPF, featuring improved system performance, reduced response times, and ensuring compliance with global payment standards.
- Enabled seamless integration with clearing houses for clients like Citi, BNP Paribas, UBS, and NatWest, supporting fast and reliable payment transfers.
- Built custom notification services, thus enhancing communication and reducing errors in high-volume transaction environments.
- Established a scalable architecture, providing a robust foundation for future innovations and increased transaction volumes, positioning Icon Solutions as a leader in real-time payments.
