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Icon Solutions, T-Systems Hungary to provide instant payments framework

Wednesday 14 June 2017 | 12:53 PM CET

Icon Solutions, an instant payments solution provider, has partnered with T-Systems Hungary to provide Instant Payments Framework (IPF).

Due to this partnership, current clients of T-Systems will benefit from Icon’s investment into IPF product development that will enable banks to realise financial savings. The framework provides integration with fintech partners with reusable Open API processing layer that supports digital services.

In addition, Financial IT mentions that from 2019, customers of banks in Hungary will be able to make instant credit transfers of up to EUR 32,500 and access these funds within 5 seconds from transfer.

T-Systems Hungary is a large Hungarian service provider that can cover an entire range of ICT technologies. The company in the 100 percent ownership of Magyar Telekom has a clientele comprising large corporations and public sector institutions, to whom they supply ICT solutions.

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