Press Releases

Published: June 16, 2023

Virtusa and Icon Solutions Forge Strategic Partnership to Drive Global Payments Transformation

Virtusa and Icon Solutions announce a collaboration to join forces and unlock a new era of payments transformation for banks worldwide.


SOUTHBOROUGH, Mass., June 16, 2023 -- Virtusa Corporation, a global provider of digital strategy, digital engineering, and information technology (IT) services and solutions, today announced a strategic partnership with Icon Solutions, a leading specialist provider of solutions and technology services that simplify payments transformation. This collaboration brings together Virtusa's expertise and Icon Solutions' proven payments solution, the Icon Payments Framework (IPF), creating a powerful alliance to propel successful payments transformation for banks worldwide.

By combining decades of global payments implementation experience with handpicked partners, Virtusa and Icon Solutions are establishing a thriving ecosystem that empowers banks to achieve their payments transformation objectives. IPF, a low-code, cloud-native, open-source framework, allows banks to develop their own payment processing solutions using the IPF software development kit and optional modules or scheme packs. This unique approach, different from traditional vendors, enables banks to leverage Icon's payments strategy and architecture pedigree while maintaining control and minimizing vendor technology lock-in

Virtusa, with its deep engineering heritage supporting large global banks on different payment transformation journeys like modernization, new scheme/RTP rollouts, operations automation, and client servicing, is an ideal partner to help implement IPF and integrate it with the rest of payment ecosystem to drive business outcomes like resiliency, scalability, and flexibility.

The partnership is founded on mutual domain consulting expertise, which will strengthen payments transformation programs, enabling banks to accelerate their modernization programs with custom solutions. Icon Solutions' low code SDK and IPF empower systems integrators to customize solutions, providing banks with the flexibility and agility to address their specific business requirements.

"Icon is committed to empowering banks to regain control of their payments and transform with confidence." Said Liam Jeffs, Sales Director at Icon Solutions. "With Virtusa, we are expanding our partner network to provide even more rich, collaborative opportunities to equip global banks with unique infrastructure that both streamlines their payments processing capabilities and helps them to grow revenue streams."

Icon Solutions has a remarkable history of successful implementations with some of the largest global banks. Its disruptive payments solutions have enabled banks to stay at the forefront of the rapidly evolving payments landscape.

"Our partnership with Icon Solutions strengthens our Payment Modernization and Transformation offering." said Amit Bhute, Senior Vice President - Technology at Virtusa. "Our collaboration brings together complementary capabilities and a shared vision to empower banks on their payments journey. Together, we will unlock new opportunities for our clients, helping them thrive in the collaborative world of finance."

About Icon Solutions

Icon Solutions is a leading specialist provider of solutions and technology services that are simplifying banking transformation. 

Icon is the past, present and future of payments. With a proven record delivering mission-critical solutions for global institutions, it is driving the next-generation of banking and payments architecture. Icon combines industry-leading domain experts, services, accelerator assets and technology that empower customers to solve problems, fight complexity and embrace change.

Icon has applied its payments, technical and integration expertise to create IPF: a low-code, cloud-native, open-source technology framework to accelerate payments transformation.

About Virtusa

Virtusa Corporation is a global provider of digital engineering and technology services and solutions for Forbes Global 2000 companies in the financial services, healthcare, communications, media, entertainment, travel, manufacturing, and technology industries worldwide. At Virtusa, digital engineering is at the heart of everything we do. We are 35,000 builders, makers, and doers that partner with customers to reimagine enterprises and creatively build solutions to the most pressing business challenges that move them to the forefront of their industries.

Virtusa's unique "Engineering First" approach means never presenting an idea we can't execute. With deep industry expertise and empowered agile teams made up of world-class talent, we think about execution early in the process, because the earlier you think about execution the earlier an idea can have an impact. Solving from the inside out enables businesses to respond swiftly to changing needs with improved quality, lower costs, and lasting results.

Virtusa is a registered trademark of Virtusa Corporation. All other company and brand names may be trademarks or service marks of their respective holders. Discover more at: Virtusa's Newsroom and follow us on Twitter at @VirtusaCorp.

Virtusa Media Contact: 
Alex Nickols, Edelman
+1 (415) 430 8056

Icon Solutions Media Contact: 
Ellie Fingleton at iseepr
+44 (0) 113 350 1922

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