IBS Journal June 2016
11
ING taps startups to boost digital plans
Senior Editor Scott Thompson
ING is partnering with FinTechs focused on creating innovative solutions for the likes of money management, payments, lending and mobile on-boarding.
their ‘proof-of-concept’ through the ING Fintech Village initiative in Belgium, and four through the Innovation Studio in the Netherlands.
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In 2014, ING announced plans to cut 1,700 jobs and spend Euro 200 million on its IT systems over the next three years. Speaking on the publication of the bank’s first quarter results statement, Ralph Hamers, CEO of ING Group, said: “The digital banking landscape has never been more dynamic than it is today. Customers are changing the way they bank, which requires us to be flexible and agile. Our Think Forward strategy has enabled us to rise to this challenge and deliver a differentiating experience to our more than 34 million customers around the world.”
even startups, for example, are working on
He added: “In the first quarter of 2016, we made further investments in customer-friendly technologies and outside collaborations. We became the first bank in France to introduce a digital financial advisor, ‘Coach Epargne’, which helps customers to make more informed savings and investment choices. In the Netherlands, we started working with small enterprises in our ‘Ondernemerslab’ facility to co-develop new services that meet their business needs in areas such as finance and marketing. In wholesale banking, we added new services to our InsideBusiness digital banking platform and expanded the platform’s availability to the UK and Ireland, empowering clients in these countries to manage their finances anytime and anywhere.”
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