ING Group N.V. – Digital Transformation Strategies

ING Group Digital Transformation Strategies Overview

ING is investing in emerging technologies to accelerate its digital transformation strategy. AI, blockchain, cloud, and payments are among the key technologies under focus for the company. The annual ICT spending of ING was estimated at $1 billion in 2024. A major share of this spending is earmarked for acquiring software, ICT services, and network and communications vendors.

ING Group NV (ING) is a provider of retail and commercial banking products and other related financial solutions. Its portfolio of offerings comprises accounts and deposit services such as saving and current accounts; loans, financing solutions, and mortgages; investment products such as derivatives and equities; card products such as credit and debit cards; asset and wealth management; and financial planning solutions. It serves a diverse client base ranging from individuals, small enterprises to medium-sized companies, and large corporate companies. ING provides also private banking, and wealth and investment management services to high-net-worth individuals and families. The group operates in Europe, the Americas, Asia, and Australia.

The ING digital transformation strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, partnerships, investments, acquisitions, and ICT spending among others.

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Digital Transformation Strategies

ING uses advanced data analytics to help achieve superior customer experience. The bank is handling calls better by further digitalizing its contact center processes to drive a better customer experience. In June 2023, ING appointed Bahadir Yilmaz as chief analytics officer to oversee and develop ING’s analytics and business intelligence activities. In 2023, ING’s analytics team also implemented speech analytics as a metric tool in the Netherlands and Belgium, providing insights into the contact center calls, and helping ING to improve its digital journeys in the app and website.

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ING Technology Theme Focus

ING is tapping the power of key disruptive technologies to enhance its operational and service capabilities. AI, ML, big data, blockchain, cloud, robotic process automation, fintech, open banking, mobile payments, and cybersecurity are among the key technologies that the company is focusing on.

ING Technology Theme Focus

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ING Technology Initiatives

ING has been involved in several strategic technology partnerships and collaborations, technology rollouts, and acquisitions over the past few years. For instance, ING collaborated with Quantexa, a leader in decision intelligence (DI) solutions for the public and private sectors, to deploy Quantexa’s platform to strengthen its risk detection and investigative efforts. Using AI and advanced graph analytics capabilities provided by Quantexa’s platform, ING’s investigative teams will focus on developing efficient global Know Your Customer (KYC) and Anti-Money Laundering (AML) measures. By connecting customers and counterparties, the platform creates context and uncovers complex networks, which further automates the first-line defense processes.

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ING ICT Spend by Function

• Network
• Application
• Data center
• End-user computing
• Management
• Communications
• ICT service desk

ING ICT Spend by Function, 2024(%)

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ING ICT Spend by Channel

• Internal development and maintenance
• Technology vendors (direct)
• ICT services providers/Consulting firms
• Local resellers
• Telcos
• Specialist outsourcers
• Systems integrators

ING ICT Spend by Channel, 2024(%)

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ING External ICT Spend by Segment

• Software (including Cloud SaaS)
• ICT services
• Network and communications
• Hardware (including Cloud Iaas)
• Consulting
• Others

ING External ICT Spend by Segment, 2024 (%)

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Scope

This report provides:

• Insight into ING’s technology activities.
• Overview of technology initiatives covering product launches, partnerships, investments, and acquisitions.
• Insights on each technology initiative including technology theme, objective, and benefits.
• Details of estimated ICT budgets.

Reasons to Buy

• Gain insights into ING’s technology operations.
• Gain insights into its technology strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into its various product launches, partnerships, investments, and acquisitions.