- Funds expertise firm Icon Options has secured a strategic minority funding from NatWest. The quantity of the funding was not disclosed.
- The funding follows a December funding Icon Options secured from Citi Treasury and Commerce Options (TTS).
- NatWest built-in Icon Options’ Icon Cost Framework in September as a part of its funds modernization technique.
Funds expertise firm Icon Options has secured a strategic minority funding from NatWest. The quantity of the funding was not instantly disclosed. The funding is the second for Icon Options previously 4 months; the corporate introduced in December that it had acquired an funding from Citi Treasury and Commerce Options (TTS), a division of Citi’s Companies group. The quantity of that funding was equally undisclosed.
In each cases, Citi Treasury and Commerce Options and NatWest have built-in or additional built-in Icon Options’ Icon Funds Framework (IPF) as a part of their investments. Citi TTS will broaden its use of IPF to boost its micro-services orchestration structure. NatWest introduced its plan to combine IPF as a part of its funds modernization efforts in September.
Icon Funds Framework is a low-code cost framework that permits enterprise funds professionals to construct cost workflows and empowers financial institution software program engineering groups to create customizable integrations into their present techniques. Each NatWest and Citi TTS famous that the expertise will assist them construct on present relationships in addition to improve their capacity to maintain tempo with adjustments in funds expertise.
“Overcoming vendor lock in and powering in-house builds with the Icon Funds Framework (IPF), NatWest can now drive change from inside,” Icon Options co-founder and Director Tom Kelleher mentioned. “Constructing new income streams, anticipating regulatory change, responding to market adjustments or aggressive pressures. As we speak’s funding is rather more than an funding, it’s a dedication to a future the place funds are protected, speedy, and versatile.”
Icon Options made its Finovate debut at FinovateEurope 2017. Along with its partnership bulletins, the corporate in current months secured “Certified Software program” standing from Amazon Internet Companies (AWS). “Certified Software program” standing is granted to applied sciences validated as assembly AWS cloud infrastructure’s efficiency, safety, and reliability requirements.
Icon Options additionally lately launched a FedNow scheme pack for IPF. It will assist banks negotiate the steadiness between “near-term necessities like FedNow compliance and ISO2022” and their “longer-term methods round driving innovation, bettering CX and decreasing prices,” Icon Options CTO Donal Fleming defined.
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