Fintech: Friend or Foe?

Ralph Hamers, CEO ING Group

ING’s approach to fintech and innovation

Copenhagen • 06 April 2016

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Are banks an endangered species?

35-40%

Revenue at riskfrom

fintech

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Regulation

Banks: heavy-touch Fintechs: light-touch(for the moment!)

Existential choice: Tracks or Train?

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vs

Think Forward: creating a differentiating customer experience

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AUS AUT BEL FRA DEU ITA LUX NED POL ROM ESP TUR0

102030405060708090

100

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

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FlexibilityAgilityInnovation

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ING Direct: ring-fenced from the rest of the bank

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ING Group international headquarters, Amsterdam (former) ING Direct headoffice, Hoofddorp (near Schiphol airport)

ING Direct: culture is crucial

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“treats me

fairly”

“delivers on

promises”

“is easy to deal with”

We are challengers

Be proactive, take initiativeShow drive & passionThink out of the box

Be an optimist

We are the good guys

Be honestAct with dignity

Be fair

We are accessible

Active, open communicationsCare for people

Don’t be driven by hierarchy

Share info & knowledge

We are passionate executors

Results-driven & focusedFocused on time

managmentCustomer-focused

Dedicated & go the extra mile

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ING approach to fintech:Partnership & Collaboration

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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

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Empowering people to stay a stepahead in life and in business

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YouTube.com/ING

SlideShare.net/ING@ING_News LinkedIn.com/company/ING

Flickr.com/INGGroupFacebook.com/ING

Thank you

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