ING Groep Business Model Canvas

ING Groep continuously develops its mobile app and web portals, investing over €1.1 billion in IT and digital in 2024 to keep interfaces secure, fast, and user-friendly for 57 million customers worldwide.

ING Groep uses advanced credit-scoring models and machine learning to assess borrowers from retail clients to corporates, underwriting €420bn in loans at end-2024 while keeping stage 3 non-performing loans at 1.8% (FY2024). ING continuously stress-tests portfolios for market volatility, interest-rate shifts and geopolitical risks, holding a CET1 ratio of 13.8% (Q4 2024) to protect capital and support solvency.

ING Groep’s proprietary digital platforms and three European data centers run its 24/7 banking backbone, processing over 1.2 billion transactions in 2024 and handling petabytes of customer data from ~38 million clients; sub-second payment routing and real-time risk scoring rely on this stack. Ongoing capex—ING spent €1.1bn on technology in 2024, with rising allocations to cloud migration and advanced cybersecurity to sustain resilience and meet EU regulations.

ING Groep’s core resource is its financial capital: CET1 (common equity Tier 1) ratio stood at 13.3% at Q4 2024, giving room to extend loans and absorb shocks; Tier 1 capital totaled about €46.7bn in 2024. Maintaining liquidity is a priority—LCR (liquidity coverage ratio) remained above 150% in 2024, and ING targets similarly robust liquidity ratios through end-2025 to meet internal targets and ECB/Dutch regulator rules.

ING offers a highly intuitive mobile and web interface that lets customers manage finances anytime, reducing friction in payments, transfers and account monitoring; as of FY2024 ING reported 14.6 million active digital customers and a 78% digital adoption rate across retail segments. This seamless experience drives loyalty—ING’s 2024 Net Promoter Score was 34 and churn among digital users was under 1.8% annually.

By running a digital-first model with ~1,700 branches globally and lower branch density since 2019, ING passed cost savings to customers: in 2024 ING offered retail savings rates up to 3.5% in Euro markets versus EU bank average ~1.2%, and cut basic account fees by ~20% vs legacy peers, attracting cost-conscious retail savers and SMEs.

ING Groep handles most customer interactions via automated platforms, letting clients self-serve for tasks and issue resolution; in 2024 ING reported over 70% of retail queries resolved digitally and 24/7 chatbots handling 40m conversations annually.

ING provides dedicated relationship managers for wholesale and high-net-worth clients, tailoring strategies across lending, cash management, and investment solutions; in 2024 ING CIB reported €2.9bn in operating income, underscoring the revenue tied to complex corporate services. These managers track client business cycles and risks, building long-term trust—client retention for private banking exceeded 92% in 2023, reflecting the effectiveness of this high-touch model.

The ING mobile app is the primary touchpoint for most retail customers, handling 78% of daily transactions and 85% of digital logins as of Dec 2025; it combines payments, savings, loans, and investment tools (robo-advice, portfolio views) into one hub, with quarterly updates and a 4.6 App Store rating that keep it the bank’s most convenient and high-engagement channel.

The Online Web Portal delivers a desktop-focused interface for detailed financial management and corporate banking, with advanced reporting and API integrations used by 68% of ING business clients in 2024; it’s especially critical for SME and wholesale clients managing multi-entity cash flow, supporting bulk payments and consolidated statements that handle up to €10bn in daily transaction volume across the platform.

ING’s Retail Individual Consumers segment covers over 12 million active customers globally (2025), seeking simple, mobile-first banking with low fees and fast service; 78% use ING’s app monthly, driving 65% of retail transactions and supporting a 2024 cost-to-income ratio ~45% in retail operations.

SMEs are a core ING segment needing credit lines, payment processing, and online cash-flow tools; in 2024 ING served ~13 million SMEs globally and reported SME lending growth of 7% YoY, highlighting demand for fast digital loan approvals (avg. decision time cut to 24 hours) and real-time cash-management dashboards.

The largest share of ING Groep’s cost base goes to digital infrastructure—servers, cloud, software licenses and ongoing feature development—accounting for roughly 25–30% of operating expenses; ING reported EUR 3.7bn in IT and digital investments in 2024, with annual tech capex near EUR 1.2bn to stay at the forefront of banking technology.

Employee salaries, benefits, and training are a major recurring cost for ING Groep, with staff expenses totaling €6.3 billion in 2024 (ING annual report 2024); competitive pay is required to hire AI, cybersecurity, and compliance specialists where EU medians exceed €80–120k. Despite automation, ING’s ~52,000 employees in 2024 remain essential for operations and client relationships, keeping personnel a top cost driver.

Net interest income is ING Groep’s main revenue, earned from the gap between interest on mortgages, personal loans and corporate credit and interest paid on deposits; in 2024 ING reported EUR 10.3 billion net interest income, about 68% of operating income. Managing the interest-rate spread is key: a 100bp rise in market rates historically lifted ING’s NII by ~5-7% year-over-year, while rate volatility squeezes margins on floating-rate corporate books.

ING Groep earns substantial fee and commission income from payment processing, account maintenance, and advisory services—recording €4.8bn in fee and commission income in 2024, up 3% year-on-year—plus commissions from third-party product sales and investment management fees; this non-interest revenue is steadier and less sensitive to interest-rate swings than lending margins.