NatWest has rolled out a new low code approach for its payments modernisation strategy.
The bank has partnered with Icon Payments Framework (IPF) to speed up the process of modernising payments to align with the new global ISO 20022 payments data message standards.
The bank said that the IPF framework allows business payment experts via low code to create workflows and enable software engineering teams to "quickly extend and create highly customisable integrations into existing bank systems".
It added that the partnership will allow NatWest to initially use a Single Euro Payments Area (SEPA) processing engine along with ready-made scheme packs, including the recently mandated SEPA Instant capability, as well as existing credit transfer and direct debit capabilities, which the bank says provides customers with “more choice and establishes the foundation for future innovation”.
“The low code aspect of the framework (Icon’s IPF) empowers and enables organisations to control its delivery and feature richness while the simple extensibility of the capability allows software engineers to focus on high value integrations and innovation,” said Ian Povey, chief information officer, payments technology, NatWest.
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