Down Under does it!
A consistent number one NPS score with customers, Australia’s most recommended bank and a bag of awards already this year. ING in Australia is on a roll. So, what’s their secret?
Keeping it simple
ING in Australia disrupted the market 20 years ago as Australia's first direct bank offering simple, straightforward, and good value products. Now, looking at the quality of their current digital offerings and customer-focused product design, that tradition has continued.
"It comes down to having a simple business model. So, keeping banking easy and frictionless, and building products and services that add real value to the customer. That, together along with our people and culture, is what we call our 'secret sauce'," said Australia's country manager, Uday Sareen.
Emphasis on innovation
Australia has maintained a focus on innovation. This has been brought to life using ING's PACE methodology when designing new products and services, and inviting customers to be a part of that process. That way, they can ensure whatever they're building is fit for purpose and provides real value.
Over the last few years they've introduced a number of successful customer-centric tools and features, for example 'Everyday Roundup', where customers round up purchases to the nearest dollar or five dollars. That money is automatically transferred to a savings account to encourage people to save, or transferred to a home loan account to pay off a mortgage faster.
Offering more choice
For a long time, ING in Australia was considered the customer champion for savings accounts and competitive home loans. But you can't be a primary bank if that's all you offer.
They recently moved into consumer credit and insurance products, now offering superannuation, credit cards, personal loans, travel, home, car and motorcycle insurance. They're also staying a step ahead when it comes to Open Banking, having released their API to developers earlier this year.
On the wholesale side, they've had success growing their business. They aim to be a leader in sustainable finance and climate action, contributing to ING's ambition of aligning lending with the Paris Agreement's climate goals.
"We continue to use our international expertise in Wholesale Banking to help clients fund renewable energy, infrastructure, natural resources, power and utilities, and food and agriculture," said Uday.
Helping customers at all times
Whatever the situation, ING in Australia want customers to know that they're by their side, also in challenging times.
A guiding principle throughout the current coronavirus pandemic is to help their existing customers. For example, giving payment pauses on their loans, or providing customers with free financial coaching through one of its partners. ING in Australia's most recent TV advertising campaign, which featured real employees, reinforced the notion that ING is human and 'here for a chat 24/7'.
What customers are saying (during corona)
"Pretty amazed that your CEO just called me about my feedback. Obviously no change to variable rates will occur from it, but impressive."
"I was so impressed with the wonderful human being who treated me with compassion and dignity at a very difficult time. I wasn't rushed , I wasn't talked over and I certainly wasn't talked down to. I was heard with such kindness and reassured that this time shall pass and right now we are certainly all in this together."
ING in Australia in a nutshell
- Established: 1999
- Number of customers: More than two million active customers. Over the past four years ING has grown its customer base by more than one million, with over five-percent of Australians now nominating ING as their main bank.
- Number of employees: 1666
- NPS score: Number one in all segments
- Recent awards: Awarded 'Best Bank' by Australia's biggest financial comparison sites Mozo and Canstar. ING in Australia was the first ever winner of Canstar's Bank of the Year Award based on a survey of 9,000 consumers. Of the 21 providers assessed for the award, they also performed best in customer satisfaction.
