ICON-SOLUTIONS
18.9.2023 13:24:29 CEST | Business Wire | Press release
Independent research conducted by Celent on behalf of Icon Solutions estimates that software developer capacity constraints have impacted banks’ payment revenues by 5% over the past two years. This is leading to increasing interest in ‘low code’ tools and platforms to accelerate the delivery of revenue-generating services, while maintaining control of the development process.
Launched today at Sibos, the survey of Tier 1 banks in North America and Europe found that the account-based payments processing model remains under significant and sustained pressure. Despite a high interest rate environment, 61% reported that margins are becoming more difficult to maintain amid evolving customer expectations, increasing regulatory demands and the emergence of new competitors.
These margin challenges are compounded by capacity limitations within the technology function. Many large banks prioritise in-house builds over buying vendor packages for payments processing software to maintain control and competitive differentiation. The ability to deliver change, however, is inhibited and improvement projects are frequently cancelled, de-scoped, or fail entirely to make it onto roadmaps. On average, banks reported missing around four opportunities to launch revenue-generating enhancements to their payment processing offering over the past two years, with the opportunity cost estimated to be around 5% of annual payment revenues.
To overcome this challenge, banks are increasingly exploring the use of low code to realise greater efficiencies, agility and collaboration. Low code involves the use of standardised, pre-built blocks that can be used to rapidly create new code or make changes to existing software through a visual, ‘drag and drop’ interface. This enables software development without manual coding, increasing developer productivity and enabling non-technical product specialists within the bank to contribute to the development process.
While low code has traditionally been restricted to enterprise applications or workflow improvement projects, the research revealed that several large banks are now extending its use into payment processing. 36% of banks reported that they are already using low code to support software development to some extent in non-card payments, with the same proportion actively experimenting or exploring their options. Overall, 90% of banks are planning on implementing low code for non-card payments in the immediate future.
“Low code is not a new concept but is emerging as a very important topic in the payment industry,” comments Kieran Hines, Principal Analyst at Celent. “Many large banks face the same challenges, with the need to deliver payments modernisation and product enhancements stymied by capacity limitations. Several early adopters are now using low code in some areas within non-card payments, and the number of proof points and use cases is building. Underpinning this is a growing consensus that the benefits of low code are both real and realisable.”
Toine van Beusekom, Strategy Director at Icon, adds: “Low code presents a powerful opportunity to reimagine the payments processing value chain, moving payments from cost to profit centre while maintaining control. There is no single approach to leveraging low code to deliver enhanced, revenue-generating services, yet all banks will be required to think differently and assess the full spectrum – from buying a package to a full in-house build – to ensure a unified focus on the customer need. This starts with a clear strategy and an understanding of the underlying architectural requirements needed to realise its transformative potential.”
To download the full report, ‘Using Low Code to Accelerate Payments Innovation: Unlocking Greater Agility and Flexibility’, click here.
Icon will be exploring payments processing strategies in more depth at Sibos. Find the team at stand DISM10 or click here to book a meeting.
-ENDS-
About Icon Solutions
Icon Solutions is a leading specialist provider of services and technology solutions 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 platform to accelerate payments transformation.
Icon’s clients include leading global banks such as BNP Paribas, HSBC and Lloyds Banking Group.
iconsolutions.com | Twitter/X | LinkedIn | YouTube
Click here to read our privacy policy
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230918717131/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Suzano Reports 36% Increase in Third Quarter Net Revenue Following Consolidation of Arbex6.11.2026 00:23:00 CET | Press release
Suzano (B3: SUZB3 / NYSE: SUZ) , the world’s largest pulp producer, announces its results for the third quarter of 2026 (3Q26), which for the first time include Arbex, the joint venture between Suzano and Kimberly-Clark established in July this year. Driven primarily by the consolidation of Arbex’s contribution, Suzano reported net revenue of BRL16.5 billion, an increase of 36% on the same period last year and a new quarterly record in the company’s 102-year history. Adjusted EBITDA totaled R$5.7 billion in 3Q26, up 9% on the same basis of comparison. Operating cash generation reached R$3.8 billion, an increase of 12%. Net income totaled R$2.1 billion. As announced following the completion of the transaction with Kimberly-Clark, Suzano holds a 51% equity interest in Arbex and will therefore fully consolidate the joint venture’s financial statements from this quarter onwards.1 “This quarter marks the beginning of a new phase for Suzano. With Arbex, we are now a broader business, both ge
Andersen Consulting styrker sine transformationskompetencer med Bakia Consulting5.11.2026 23:12:00 CET | Pressemeddelelse
Andersen Consulting udvider sine kompetencer inden for forretningstransformation gennem en samarbejdsaftale med Bakia Consulting, et firma, der har specialiseret sig i transformation af økonomifunktionen. Bakia Consulting har hovedkontor i Paris og kapacitet i Singapore og Hongkong og har hjulpet store virksomheder og finansielle institutioner med at gentænke deres økonomifunktioner, herunder driftsmodeller, organisationsstrukturer, processer og digitale systemer. Bakia Consulting kombinerer projektledelse og forandringsledelse og arbejder tæt sammen med kunderne om at udvikle løsninger og fastholde forandringer. Virksomheden rådgiver også om modeller for økonomisk og ikke-økonomisk styring, procesoptimering og digitale værktøjer. "Økonomifunktioner forventes at levere bedre indsigt, arbejde mere effektivt og tilpasse sig skiftende forretningsbehov – ofte samtidig," udtalte Romain Dubuisson, partner hos Bakia Consulting. "Vi arbejder tæt sammen med vores kunder om at udvikle løsninger,
iQmetrix Unveils Built-In Intelligence for Every Role in Telecom Commerce at Its 2026 Telecom Industry Address5.11.2026 22:39:00 CET | Press release
An all-new AI inventory agent, iQ Hub and iQ Pay for Back Office bring intelligence to every role. iQmetrix, the global provider of Intelligent Commerce Operating Systems for telecom, last week shared highlights from its 2026 Telecom Industry Address and Product Announcements, held virtually on Oct. 28 in two sessions, one for North American audiences and one for European audiences. The address was built around one theme: intelligence. Telecom commerce is moving from systems that record the business to systems that act on it, and the announcements put that intelligence in the hands of every role, from the sales associate at the counter, to the finance manager in the back office, to the corporate view leading the channel experience. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261105003162/en/ "Right now telecom providers are competing in a race to the bottom on price that no one wins. The way out is intelligence. Not AI bo
Compass Pathways Announces New Employee Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)5.11.2026 22:30:00 CET | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care, announced today that Compass granted equity awards under the Compass Pathways plc 2026 Inducement Plan to nine newly hired non-executive employees. The equity awards were granted on November 2, 2026, and consisted of options to purchase an aggregate of 59,275 shares and restricted share units or, in the case of employees in the United Kingdom nominal cost options, covering an aggregate of 28,200 shares. These options have an exercise price per share equal to $8.41, the closing price of the Company’s American Depositary Shares on the Nasdaq Global Select Market on the grant date, and will vest over a four-year period with 25% vesting on the first anniversary of the date of the grant and the remaining 75% vesting in equal monthly installments over the three-year period thereafter, subject to each employee’s continued employment. The restricted s
Graco QUANTM i230 Brings Electrification to High-Flow Fluid-Transfer Applications5.11.2026 22:16:00 CET | Press release
New electric 3-inch double-diaphragm pump helps paint, coatings and ceramics manufacturers increase throughput while reducing energy consumption by up to 80%. Graco Inc. is helping manufacturers electrify high-flow fluid-transfer applications with the global launch of the 3-inch QUANTM® i230, bringing efficient electric drive technology to demanding processes that have traditionally relied on pneumatic pumps. Paint, coatings and ceramics manufacturers depend on diaphragm pumps for their flexibility, reliability and ability to handle challenging materials. But pneumatic pumps also depend on compressed air — an energy-intensive plant resource whose available capacity can fluctuate as demand changes across a facility. The QUANTM i230 gives manufacturers another option for qualified high-flow applications. By combining familiar diaphragm pump capabilities with electric operation, the pump helps manufacturers move more material, reduce transfer bottlenecks and lower energy consumption by up
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom