ING boss maps out growth with the use of technology
In Germany, France, Italy and Spain, ING is going high-tech to offer services that don't need a costly branch network
Amsterdam
DINING with leaders of five Silicon Valley startups, ING Groep NV chief executive officer Ralph Hamers asked how they planned to grow into competitors of large banks. To his surprise, they turned to him for advice.
"They said, 'that's exactly the question we wanted to ask you, because ING is the only global institution that has ever done that'," Mr Hamers said in an interview in Amsterdam, recounting a meeting he had last year. "So somewhere in us, we have it - the ability to disrupt" by using technology to win market share, he said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge
Rescue pup to meme star: the real-life ‘Dogecoin’ dog
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea