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1
Ignacio Juliá Vilar
Chief Innovation Officer, ING Group
• Competitors come out of
restructuring
• Focus on capital conservation +
cost reduction
• Exiting subscale and capital-
i...
Innovation is a key priority in the Think Forward strategy
3
4
A few of ING’s own innovations
5
Peer-to-peer
payments app TWYP
> 280,000 users in
Spain and the
Netherlands
One-stop-shop...
6
7
8
New products New features Maintenance, mandatory projects
Project Change Portfolio Launch in marketPACE Innovation Appro...
9
10
11
Benoit Legrand
Head of Fintech, ING Group
ING’s approach to the fintech
revolution
Benoît Legrand – Head of FinTech
Press meeting
Amsterdam, 17 June 2016
13
Today, the status quo is no longer an alternative
35-40%
(1)
Revenue
at risk
from
fintech
(1) Sources : Accenture – Mc ...
14
Are banks fit enough to… adapt?
Are fintechs fast enough to… survive?
The 4P’s of cooperating with FinTechs
1. Priorities : should be set and communicated clearly internally
2. Processes : sim...
ENABLERSINNOVATION PRIORITIES
With more than 12.000 fintechs worldwide, we need to focus on
ING Strategy and Innovation Pr...
ING principles for fintech partnerships
17
A means to implement faster and better the Bank’s strategy
‘A fintech is a comp...
Fast-track processes
18
= test a solution for a limited
period of time
Proof of concept / Pilot
with a fintech
= ING provi...
Banking will more and more be like oxygen…
19
20
« The main challenge of the
digital revolution is not digital…
it is human and cultural »
Thank you
23
Pieter-Paul van den Hoven
24
Etienne Tatur
25
Frans van Hoogstraten
26
Niels Corver
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ING Customer Experience Centre

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Slidedeck of Chief Innovation Officer Ignacio Juliá Vilar and Head of Fintech Benoit Legrand shared during a press event at ING Innovation Lab in Amsterdam

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ING Customer Experience Centre

  1. 1. 1 Ignacio Juliá Vilar Chief Innovation Officer, ING Group
  2. 2. • Competitors come out of restructuring • Focus on capital conservation + cost reduction • Exiting subscale and capital- intensive business • Some peers have more ambitious targets than ING • Contact has moved massively to digital • Expectations keep rising; people are more willing to shop around • As branch visits become more infrequent, building our digital offering is key • Corporates no longer want to depend on banks for payments • Mid-corps increasingly considering non-banking players for core banking products • Hard to reap benefits from regulatory environment, due to lack of European harmonisation and local regulatory deviation • Capital requirements continue to increase Customer Behaviour Competitive Landscape Technology Fintech Regulations • Technology is enabling new breed of competition and new business models • 30% of bank income is at risk from fintech competitors • Focus is on pain points: overcharging, underserving the customer Developments moving faster than expected • Trust in banks remains low • Still bigger trust in established brands • Banks still trusted more than others to protect data Society 2
  3. 3. Innovation is a key priority in the Think Forward strategy 3
  4. 4. 4
  5. 5. A few of ING’s own innovations 5 Peer-to-peer payments app TWYP > 280,000 users in Spain and the Netherlands One-stop-shop platform Moje ING Mobile payments solution Payconiq: successful in Belgium
  6. 6. 6
  7. 7. 7
  8. 8. 8 New products New features Maintenance, mandatory projects Project Change Portfolio Launch in marketPACE Innovation Approach BUILD MEASURE LEARN • Low budget and stage gated funding • Ongoing experimentation to validate your business model MVP … Towards new way to develop innovation projects (PACE) 8
  9. 9. 9
  10. 10. 10
  11. 11. 11 Benoit Legrand Head of Fintech, ING Group
  12. 12. ING’s approach to the fintech revolution Benoît Legrand – Head of FinTech Press meeting Amsterdam, 17 June 2016
  13. 13. 13 Today, the status quo is no longer an alternative 35-40% (1) Revenue at risk from fintech (1) Sources : Accenture – Mc Kinsey
  14. 14. 14 Are banks fit enough to… adapt? Are fintechs fast enough to… survive?
  15. 15. The 4P’s of cooperating with FinTechs 1. Priorities : should be set and communicated clearly internally 2. Processes : simplify processes to enable fast, actionable decision-making 3. Principles : cooperating with fintechs is a mean not an aim to achieve a strategy 4. Performance : ability to assess performance, pivot, fail fast, learn and start again  Eventually, it all comes down to sharing values and vision
  16. 16. ENABLERSINNOVATION PRIORITIES With more than 12.000 fintechs worldwide, we need to focus on ING Strategy and Innovation Priorities 16
  17. 17. ING principles for fintech partnerships 17 A means to implement faster and better the Bank’s strategy ‘A fintech is a company which provides an innovative/disruptive product or service that is of added value within the financial service industry AND does not have a relationship with ING yet’ The Partnership with a fintech is neither a Venture Capital nor Private Equity activity The Business is ultimately responsible We aim to maximize the number of potential partnerships reviewed with a quick turnaround process to evaluate the strategic rationale. We should only establish a partnership when the Business confirms a strong commitment to take ownership All deals are by default booked centrally and administered with Corporate Investments Standard templates/documents are available and timelines have been defined to speed up fintech onboarding The process leverages as much as possible the existing ING teams/competences and governance
  18. 18. Fast-track processes 18 = test a solution for a limited period of time Proof of concept / Pilot with a fintech = ING provides funding to a fintech that provides an innovative/disruptive product or service of added value within the financial service industry and does not have a relationship with ING yet Equity and equity-like investments in a fintech Investments in Venture Capital / Private Equity Fund = ING provides funding to Venture Capital / Private Equity funds focussing on fintech investments NOTE: After the successful POC/pilot, the business can either invest in the fintech company or have a standard supplier relationship. Target : 4 weeks
  19. 19. Banking will more and more be like oxygen… 19
  20. 20. 20
  21. 21. « The main challenge of the digital revolution is not digital… it is human and cultural »
  22. 22. Thank you
  23. 23. 23 Pieter-Paul van den Hoven
  24. 24. 24 Etienne Tatur
  25. 25. 25 Frans van Hoogstraten
  26. 26. 26 Niels Corver

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