ING boss maps out growth with the use of technology

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.