Form3 announced a partnership with Icon Solutions, a payment and specialist technology provider. The deal extends Form3 Payments-as-a-Service platform beyond the UK real-time payments to include processing across Europe. This will allow clients to gain direct technical access to the Euro Banking Association (EBA) to initiate and receive real-time SEPA payments; when the new SEPA Inst scheme goes live in November 2017.
The rapid growth of real-time payments systems around the world provides huge potential for banks and fintechs to enhance their services. The partnership between Icon Solutions and Form3 will allow clients to make and receive Euro payments using the new SEPA Inst scheme – cost-effectively, quickly and reliably via the cloud.
By deploying Icon Solutions’ Instant Payments Framework (IPF) in Form3’s native cloud based infrastructure, clients will benefit from the scalability and resilience of infrastructure running 24x7x365, to access SEPA Instant payments. This will be available from the first day that the scheme goes live, using the same modern API integrations already used by Form3 clients..
Mike Walters, Chief Product Officer at Form3, says: “At Form3 our clients are consistently asking us to help them take advantage of changes in the payments scheme domestically in the UK and internationally. It is essential to remove the need for clients to continually procure stand alone technology components from vendors every time this market evolves. Our partnership with Icon Solutions solves this problem for SEPA instant and shows our commitment to making sure that clients do not have to wait for long implementations or invest huge sums to bring real-time experiences to their customers, whatever their size or volume – all using state of the art cloud based technology”.
Darren Capehorn, Director of Services, at Icon Solutions, said: “We are delighted to be working with Form3. Icon Solutions’ Instant Payments Framework (IPF) fully supports SEPA Instant. Working with Form3 enables our clients to benefit from high standard cloud technology to efficiently and quickly gain access to SEPA Instant, connecting to real-time payments in Europe for the first time”.