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Fintech: Friend or Foe?
Ralph Hamers, CEO ING Group
ING’s approach to fintech and innovation
Copenhagen • 06 April 2016
2
Are banks an endangered species?
35-40%
Revenue
at risk
from
fintech
3
Regulation
Banks: heavy-touch Fintechs: light-touch
(for the moment!)
Existential choice: Tracks or Train?
4
vs
Think Forward: creating a differentiating customer experience
5
6
0
10
20
30
40
50
60
70
80
90
100
AUS AUT BEL FRA DEU ITA LUX NED POL ROM ESP TUR
Mobile Web Assisted (Phone + Branch)
Di...
7
Flexibility
Agility
Innovation
8
9
ING Direct: ring-fenced from the rest of the bank
10
ING Group international headquarters, Amsterdam (former) ING Direct h...
ING Direct: culture is crucial
11
“treats
me fairly”
“delivers
on
promises”
“is easy
to deal
with”
We are challengers
Be p...
12
ING approach to fintech:
Partnership & Collaboration
13
More than 40 fintech partnerships
For small businesses we’ve partnered with Kabbage
• Uncommitted lines of credit with ...
14
Empowering people to stay a step
ahead in life and in business
ING.com
YouTube.com/ING
SlideShare.net/ING@ING_News LinkedIn.com/company/ING
Flickr.com/INGGroupFacebook.com/ING
Thank you
Follow us to stay a step ahead
ING.com
YouTube.com/ING
SlideShare.net/ING@ING_News LinkedIn.com/company/ING
Flickr.com/ING...
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Fintech: Friend or Foe? #Money2020Europe

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ING’s approach to fintech and innovation. Slidedeck of ING CEO Ralph Hamers for Money2020 Europe. More info at http://www.ing.com/Newsroom/All-news/ING-CEO-Ralph-Hamers-addresses-Money-2020-Europe-conference.htm

Published in: Economy & Finance

Fintech: Friend or Foe? #Money2020Europe

  1. 1. Fintech: Friend or Foe? Ralph Hamers, CEO ING Group ING’s approach to fintech and innovation Copenhagen • 06 April 2016
  2. 2. 2 Are banks an endangered species? 35-40% Revenue at risk from fintech
  3. 3. 3 Regulation Banks: heavy-touch Fintechs: light-touch (for the moment!)
  4. 4. Existential choice: Tracks or Train? 4 vs
  5. 5. Think Forward: creating a differentiating customer experience 5
  6. 6. 6 0 10 20 30 40 50 60 70 80 90 100 AUS AUT BEL FRA DEU ITA LUX NED POL ROM ESP TUR Mobile Web Assisted (Phone + Branch) Digitalisation has greatly increased customer contacts Average # of contacts per active customer (annual) Belgium > 90 digital contacts per customer Poland > 80 digital contacts per customer # of contacts Source: ING internal data, as at end-2015
  7. 7. 7 Flexibility Agility Innovation
  8. 8. 8
  9. 9. 9
  10. 10. ING Direct: ring-fenced from the rest of the bank 10 ING Group international headquarters, Amsterdam (former) ING Direct headoffice, Hoofddorp (near Schiphol airport)
  11. 11. ING Direct: culture is crucial 11 “treats me fairly” “delivers on promises” “is easy to deal with” We are challengers Be proactive, take initiative Show drive & passion Think out of the box Be an optimist We are the good guys Be honest Act with dignity Be fair We are accessible Active, open communications Care for people Don’t be driven by hierarchy Share info & knowledge We are passionate executors Results-driven & focused Focused on time managment Customer-focused Dedicated & go the extra mile
  12. 12. 12 ING approach to fintech: Partnership & Collaboration
  13. 13. 13 More than 40 fintech partnerships For small businesses we’ve partnered with Kabbage • Uncommitted lines of credit with personalised, risk-based pricing based on behavioural information • 100% online credit assessment • Approval and cash within 10 minutes • Pilot launched in Spain (Dec ‘15) to existing small business clients For consumers we’ve invested in WeLab • In January 2016 we made an investment in WeLab • WeLab provides consumer loans in China & Hong Kong in a fully-automated process that only takes minutes from application to approval We’re also looking for the right opportunities & partners in: Money Management | Aggregation | Payment services | Customer onboarding Instant Lending examples
  14. 14. 14 Empowering people to stay a step ahead in life and in business
  15. 15. ING.com YouTube.com/ING SlideShare.net/ING@ING_News LinkedIn.com/company/ING Flickr.com/INGGroupFacebook.com/ING Thank you
  16. 16. Follow us to stay a step ahead ING.com YouTube.com/ING SlideShare.net/ING@ING_News LinkedIn.com/company/ING Flickr.com/INGGroupFacebook.com/ING

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