Icon Solutions drives evolution of instant payments scheme in Europe

5 October 2017

Icon Solutions are delighted to announce the appointment of Tom Hay, Head of Payments, to the European Payments Council’s Scheme Technical Forum (ESTF).

The Forum is responsible for establishing and driving industry standards for SEPA schemes, including SCT Inst – the new instant payments scheme in Europe. Icon is well positioned to advise and shape this EPC initiative and brings decades of experience implementing global instant payments installations including UK Faster Payments and Singapore G3 FAST. Icon also provides consulting services to global Tier 1 organisations and offers clients a team with extensive subject matter expertise across the payments spectrum.

ESTF and its members, which include CSMs, TSPs and payment messaging services companies, are regularly consulted and play an active part in the evolution of schemes as they address issues and make recommendations directly to the EPC.

Since joining Icon in 2014, Tom has established and led a world class payments team in addition to pioneering the development of Icon’s revolutionary open source Instant Payments Framework (IPF), which recently achieved full compliance with EBA Clearing’s RT1 platform.

Tom Hay, Head of Payments at Icon Solutions, commented: “Icon’s expertise and experience in the field of Instant Payments is widely recognized, and our continuing leadership is demonstrated most recently by our early completion of EBA Clearing’s testing procedure for SCT Inst payments, proving full compliance with the requirements of the RT1 infrastructure. I am delighted by the recognition by the ESTF, and the opportunity to further shape and contribute to the development of advanced payment systems in Europe.”


About Icon Solutions
Icon is an independent award-winning payment and specialist technology provider serving global financial institutions. From IT strategy, architecture and design, to project delivery and software development, Icon enables institutions to rapidly capitalise on the latest innovative technology and market drivers to reduce costs, boost revenues, and ensure compliance with regulatory and industry standards.

Icon offers its clients the combination of deep subject matter expertise in instant payments, a proven track record in delivering bank critical systems, and a FinTech approach to the use of technology. This is evidenced by many longstanding client relationships with leading global financial institutions.