ING Direct Innovation

About ING Direct Innovation

ING Direct launched in 1997 in Canada, revolutionizing retail banking. The bank offered high interest savings accounts with no physical branches, operating entirely by phone and internet. ING Direct expanded to Spain, France, Italy, Germany, the UK, the US, and Australia. The bank attracted 37 million customers globally with its simple orange brand and high rates. ING Direct was called the Starbucks of banking. The model proved that direct banking could work at scale. ING Direct USA was sold to Capital One in 2011 for 9 billion. ING Direct UK was sold to Barclays. The ING Direct model influenced every subsequent online bank including Ally, Marcus, and neobanks.