Tech failures, risk aversion: a lesson in ING's digital transformation
Its compliance and technology shortcomings suggest a firm that's in such a hurry to embrace digitalisation that it's paid too little attention to basic business practices
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SINCE taking charge of ING Groep NV in 2013, chief executive officer Ralph Hamers has laboured to make it the most digitally advanced lender in Europe. His motto: disrupt yourself before a competitor does it first.
It's safe to say the tumult at ING during the last few weeks isn't what he had in mind.
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