The year of digital banking pioneers
29 December 2016
Improving the customer experience is always a top priority for ING. Here are five innovations that hit the market this year. And one that we stopped.
1. Yolt from the blue!
Launched in the UK, Yolt is a free mobile app to help people keep track of their finances. The Financial Times wrote that Yolt is one of the first examples of a bank in the UK providing a platform for customers to manage money held by competitors.
“We built the aggregator in the way that people think about money,” said Ignacio Julia Vilar, chief innovation officer ING at the app’s launch in October.
2. It is a game changer
Launched in August, Virtual Cash Management (VCM) helps company treasurers to make better financial decisions as they gain insight, access and control of their company’s cash position. With VCM, treasurers can manage their company’s cash across borders, using only a single bank account. To make it even easier to use, the self-service platform can seamlessly integrate into any treasury department’s existing IT infrastructure.
3. Banking via ‘social’
Owe a friend money after a night out? Customers of ING in the Netherlands can now pay each other back via social media, without leaving ING’s mobile banking app. First step is creating a ‘payment request’. The app then generates a link that can be shared via WhatsApp, Facebook, Twitter, or even SMS and e-mail. The person that needs to pay the money then opens the link and pays via iDeal. Easy.
4. Getting started
Launched in Romania, Startarium is an online platform for starting entrepreneurs. It helps start-ups get their business off the ground, paving the way with tips, connections and business resources. Only 24 hours after its launch in October, the platform had already reached 2,000 people with dreams of starting a business. Startarium was one of the finalists of ING’s first Innovation Bootcamp in 2014. Innovation Bootcamp is an internal initiative where employees come up with innovations to help empower customers.
5. Smart notes
Even in these times of virtual money, you sometimes need a bit of cash. Since September, Twyp Cash customers in Spain can withdraw money with their smartphone when paying for other purchases. ING partnered with Grupo DIA, one of the world’s leading food retailers to introduce a service at more than 3,500 supermarkets and petrol stations.