Belgian banking activities are organised around two activities: Retail Banking and Wholesale Banking. This structure ensures optimal efficiency and rapid decision-making processes.
In its approach, ING Belgium strives to take the specific requirements of its customers into account in full. Indeed, the financial service needs of an individual or a small firm differ entirely from those of a large multinational corporation.
It is for this reason that individuals and companies are classified in several categories.
ING Belgium is a universal direct bank that provides services to all types of customers. Apart from its branch network, ING Belgium uses the internet and mobile channels as retail channels.
Retail Banking's scope is Private Individuals and Personal Banking (assets lower than EUR 500,000) and Self-employed, professionals and micro companies (balance sheet lower than EUR 400,000).
ING Belgium currently has an omni-channel distribution model aimed at answering clients evolving needs. Our distribution model is based on 3 pillars: digital, branches and remote interaction. Each answers to specific needs of clients and mutually reinforce one another:
The distribution model as described above has been implemented during 2018.
(*Data of December 2018)
Private Banking serves wealthy customers, that is, those with portfolios of EUR 500,000 or more.
Asset management can be discretionary (ING Private Banking takes full responsibility) or advisory (the client gives prior authorisation for all transactions), or the client can manage the assets him or herself via the "private trading desk". Management is based on "open architecture", in which the investment funds of other banks or management companies are also suggested. Hedge funds and structured notes are part of this offering.
The Midcorps & Institutionals segment focuses on medium-sized companies - with a balance sheet of more than EUR 400,000 - and institutional clients like public services, hospitals, religious associations, teaching establishments, union organisations and pension funds. These clients represent an important segment for ING Belgium. However, they require a specific approach. They can contact 16 business centres and business desks distributed over the whole country, as well as the branch network, of course.
ING Belgium has specialists in the field of transport and logistics, agriculture, food, real estate and so on. The Bank is also very attentive to the family aspects of medium-sized companies, of which 70% are family businesses.
Large corporates and institutional investors are another core customer segment for ING Belgium. Wholesale Banking in Belgium is fully integrated in terms of sectors and products into the global Wholesale Banking network which spans over 40 countries. More information on ING Wholesale Banking globally can be found on www.ingwb.com.
In Belgium and Luxembourg, ING Group is active in the following fields: retail (including midcorp), private and commercial banking, life insurance, leasing and commercial finance.
In Belgium, the Group is also active in non-life insurance, Real Estate Development and Real Estate Investment Management.
Product Management & Client Services installs end-to-end responsibility and accountability, and is aligned with the strategic objectives of the client segments. “Client Services” institutionalises the focus on the client in all processes and to ensure the follow-up of the client’s end-to-end experience. While “Product Management” mission maintains the competitiveness of the existing offer, creates new products and innovates beyond banking.
New technological developments are continuously transforming the society and the banking industry. Therefore, the ING Tech Market Leaders (BE/NL) department strives to be an agile, output driven and performing IT division to support ING's ambitions and to overcome challenges, i.e. building new capabilities in a timely manner in response to ever changing customer expectations whilst keeping robust yet efficient service delivery to both ING Belgium and global business units within ING Group.
With technology and customer behaviour changing faster and faster every day, ING needs to become a faster and smarter organisation as well. In 2015, ING Belgium introduced the Agile way of working in ITS. Agility is the capability of a company to rapidly change or adapt in response to changes on the market. In 2016, ING Belgium was awarded during the Learning & Development Awards for her Agile Learning Journey.
ING Belgium uses several partners (support departments) for its day-to-day operation and these also form part of the ING Group's functional organisation. However, their activities are characterised by many local nuances. These support departments - such as HR, communication, audit, compliance and real estate - must take into consideration the fact that ING Belgium is a company and bank under Belgian law.