(ING) ING Groep N.V. Business Model Canvas Research |
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ING Groep’s Business Model: How It Creates Value and Revenue
Explore ING Groep N.V.’s Business Model Canvas to see how the bank creates value, serves customers, and generates revenue across its global footprint. This concise, strategic overview highlights the key building blocks behind ING’s success and competitive edge. Want the full picture? Get the complete Business Model Canvas for deeper insights and practical use.
Partnerships
Central banks and banking regulators
ING Groep N.V. works under banking supervision in the Netherlands, Belgium, Germany and other markets, so ties with central banks and regulators are core to its deposit-taking and cross-border lending model. In 2024, ING reported a Common Equity Tier 1 ratio of 13.7% and a liquidity coverage ratio above 140%, showing how capital, liquidity, conduct and reporting rules directly shape the business.
Payment networks and clearing infrastructure
ING Groep N.V. depends on card schemes, clearing houses, and settlement systems to move retail and corporate payments across domestic and international rails, including 24/7 transfer flows. These partners keep cash management low-friction and support the scale needed for daily high-volume transactions.
Corporate counterparties and syndication banks
ING Groep N.V.’s Wholesale Banking relies on co-lenders, syndicate partners and large corporate counterparties to underwrite big-ticket loans, trade finance and capital markets deals. Spreading a €1 billion-plus facility across several banks helps ING share risk, keep balance-sheet use tight, and serve clients that need multi-bank funding.
Fintech, software and cloud providers
ING Groep N.V. relies on fintech, software and cloud partners to keep mobile banking, analytics and automated controls running across its 9 core markets. In 2025, ING reported €17.8 billion in total income and served about 40 million customers, so vendor resilience and scale matter for uptime, speed and cross-country delivery.
- Cloud partners support resilient banking.
- Software vendors power analytics and automation.
- Fintech links help scale digital services.
Institutional investors and capital market participants
ING Groep N.V. uses institutional investors and capital market participants to fund its balance sheet and spread risk by selling debt instruments to a wide buyer base. These partners also support underwriting and distribution, helping ING place funding across markets efficiently.
- Debt investors fund balance-sheet needs
- Risk is shared across institutions
- Partners support underwriting and distribution
In FY2025, this wholesale funding channel remained key to ING Groep N.V.'s market access and liquidity profile.
ING’s Key Partnerships Power Scale, Uptime, and Market Reach
ING Groep N.V.’s key partnerships are with regulators, payment networks, clearing and settlement systems, cloud and software vendors, and wholesale funding counterparties. In FY2025, ING reported €17.8 billion in total income and about 40 million customers, so these links support scale, uptime, and market access.
| Partner group | Why it matters |
|---|---|
| Regulators | Capital and conduct rules |
| Payment rails | Transfers and cash management |
| Funding partners | Liquidity and risk sharing |
What is included in the product
Detailed Word Document
A concise, real-world Business Model Canvas for ING Groep N.V. covering its 9 blocks, key strengths, and strategic position.
Customizable Excel Spreadsheet
Quickly spot ING Groep’s key business model pain points in one editable, board-ready view.
Reference Sources
Shows the primary sources behind ING Groep N.V. claims, helping investors verify facts quickly and make sharper, more confident decisions.
Activities
Deposit taking and lending
ING takes current and savings deposits from households, SMEs, mid-market firms and large corporates, then turns them into loans; in 2025, it served more than 40 million customers, so this intermediation stayed at the core of the business. Net interest income still depends on that spread between deposit funding and lending.
Payments and cash management
Payments and cash management keep ING Groep N.V. tied to daily client flows: the bank serves about 38 million customers and supports domestic and cross-border payments for retail and business clients. For companies, cash management helps run liquidity, collections, and payables, making it one of the core touchpoints in the relationship.
Wholesale banking and advisory services
ING Groep N.V.’s Wholesale Banking unit provides corporate finance, debt and equity capital markets, treasury and risk management, and specialized lending to large companies and financial institutions in over 40 countries. In 2025, this fee-driven business helped deepen client relationships and reduce reliance on plain lending.
Risk management, compliance and controls
ING Groep N.V. uses risk management, compliance and controls to track credit, market, liquidity, operational and conduct risk across its global bank. In 2025, this discipline helped protect balance-sheet strength and support regulatory trust, with AML and sanctions screening built into daily controls.
- Tracks key banking risks
- Runs AML and sanctions checks
- Protects capital and liquidity
- Supports supervisory confidence
Digital platform development and service delivery
ING Groep N.V. centers key activities on digital platform development and service delivery, with product teams, engineers and operations staff improving mobile and online banking plus back-office automation across its markets. This keeps customer journeys fast and low-cost, and supports scale across ING’s large retail and wholesale base.
- Mobile and online banking first
- Engineers run customer platforms
- Operations automate back office
- Speed and convenience improve
- Costs stay leaner
ING’s 2025 Edge: Digital Scale, Global Reach, Tight Risk Control
ING Groep N.V. centers key activities on digital banking delivery, payment processing, lending, and risk control. In 2025, it served more than 40 million customers, and its wholesale bank operated in over 40 countries, so platform uptime, client servicing, and credit discipline stayed central.
| Key activity | 2025 fact |
|---|---|
| Digital banking | 40m+ customers served |
| Wholesale banking | 40+ countries |
| Risk control | AML and sanctions checks |
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Business Model Canvas
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Resources
Banking licenses and regulatory approvals
ING Groep N.V.’s banking licenses let it take deposits and grant credit, and its regulatory approvals keep those rights valid across major markets. In 2025, ING served more than 38 million customers in over 35 countries, so these approvals are core assets for a universal bank.
Customer deposits and balance-sheet funding
At year-end 2024, ING Groep N.V. held about €650bn in customer deposits, giving it a large, low-cost funding base for lending and liquidity needs. This broad deposit mix cuts reliance on wholesale funding and helps ING keep pricing flexible and funding stable through rate swings.
Digital banking platforms and data
ING Groep N.V. serves more than 40 million customers, so its digital banking platforms are a core asset. Mobile apps, online banking, and analytics systems support personalization, credit decisions, and fraud detection, while also helping ING deliver the same service across countries.
Skilled workforce and relationship managers
ING Groep N.V. relies on a large skilled workforce of bankers, risk specialists, technologists, and operations staff; in 2025 it employed about 60,000 people. Relationship managers are key in wholesale and corporate banking, where human judgment still drives advisory work and complex credit calls across a balance sheet of over €900 billion.
- About 60,000 employees in 2025
- RM-led model in wholesale banking
- Human review for complex credit
Brand, capital and liquidity position
ING Groep N.V.’s brand helps customers trust a bank that works in a tightly regulated market. In 2025, its strong capital and liquidity position supported lending and resilience, with a CET1 ratio of 13.5% and a liquidity coverage ratio above 130%, helping protect solvency and market confidence.
- Brand supports trust
- Capital backs lending capacity
- Liquidity supports resilience
ING’s Strength: 40M Customers, 60K Staff, Solid Capital
ING Groep N.V.’s key resources are its banking licenses, digital platforms, and skilled staff. In 2025, it served over 40 million customers and employed about 60,000 people, while its CET1 ratio stood at 13.5% and liquidity coverage ratio stayed above 130%.
| Resource | 2025 data |
|---|---|
| Customers | 40m+ |
| Employees | 60,000 |
| CET1 ratio | 13.5% |
Value Propositions
Full-service banking for retail and business clients
ING Groep N.V. bundles deposits, payments, mortgages, loans, and business banking in one franchise, so retail and business clients can handle daily banking and more specialized products without switching providers. In 2025, ING served about 39 million customers and reported EUR 18.5 billion in total income, showing the scale behind this broad one-stop offer.
Digital-first convenience
ING Groep N.V. serves about 38 million customers, and its digital-first model lets them handle accounts, payments and lending through the app and web without branch visits. In mass banking, that mix of 24/7 self-service, speed and low effort is a key edge, especially as most routine transactions are already handled digitally.
Cross-border banking capabilities
ING Groep N.V. serves 39.3 million customers and gives them cross-border banking across Europe and selected global markets, which helps people who move money, work, or live in more than one country. For companies, this reach supports trade flows and expansion without needing separate local banks in every market.
Financing across the customer lifecycle
ING Groep N.V. links mortgages, personal loans, SME credit and corporate financing so one bank can serve a customer from first home purchase to business expansion; that lifecycle model helps lift retention and cross-sell. In 2024, ING reported EUR 6.4 billion net profit and a 13.6% CET1 ratio, showing room to keep funding customer growth.
- Home-to-business financing
- Higher retention through cross-sell
- Balances retail and corporate lending
Trusted treasury, trade and risk solutions
ING Groep N.V. gives wholesale clients one place for liquidity, foreign exchange, trade finance, and risk management, then bundles that with lending and cash management. That matters in a market where ING reported a CET1 ratio of 13.6% at 2024 year-end, supporting balance-sheet-backed treasury services for complex clients.
- Liquidity, FX, trade finance
- Combined with lending, cash management
- Relationship-led for complex clients
ING’s Digital-First Banking Scale Reaches 39 Million Customers
ING Groep N.V. offers one bank for daily banking, mortgages, loans, SME credit, and wholesale services, so customers can stay with one provider across life and business needs. Its digital-first model and cross-border reach add speed and convenience, while 2025 scale of 39 million customers and EUR 18.5 billion income shows strong product depth.
| Value driver | 2025 data |
|---|---|
| Customers served | 39 million |
| Total income | EUR 18.5 billion |
Customer Relationships
Self-service digital banking
ING Groep N.V. pushes routine retail banking into mobile and online channels, so customers can check balances, move money, and download statements without branch visits. In 2025, ING served about 38 million customers and kept more than 90% of everyday service interactions digital, cutting friction and making self-service the default.
Relationship-managed corporate banking
ING Groep N.V. serves corporate and institutional clients through dedicated bankers and specialists in over 35 countries, which supports tailored financing and advisory solutions. This relationship model is built for long-term account coverage and showed up in ING Groep N.V.'s 2025 Wholesale Banking setup, where deep client coverage helps keep large, complex mandates sticky.
Omnichannel service support
ING Groep N.V. uses omnichannel support so customers can switch between digital, phone and human help without repeating their issue. With 38 million customers and 14 million mobile active users, this setup matters for onboarding, service fixes and product changes, while keeping costs lower than a fully branch-led model.
Long-term retention through bundled products
ING Groep N.V. builds long-term retention by serving many customers with deposits, loans, and payments in one relationship, which raises switching costs and makes day-to-day use stickier. The bank also lifts share of wallet by capturing more of each customer’s banking needs, with FY2024 net profit at EUR 6.4 billion showing the model’s scale.
- More products, higher switching costs
- More touchpoints, deeper engagement
- More wallet share, stronger retention
Trust-based regulated relationship
ING’s customer relationships are built on trust: customers keep money with a bank only if they believe it is safe, private, and compliant. As a regulated institution serving around 40 million customers, ING turns that trust into stickier deposits and corporate cash balances, where reliability matters most.
- Safety and privacy drive retention
- Regulation supports daily trust
- Reliability protects deposits and cash
ING’s digital-first model powers sticky customer ties and global reach
ING Groep N.V. keeps customer ties sticky by making daily banking digital first, while still offering human help for complex needs. In 2025, it served about 38 million customers and handled over 90% of routine service interactions digitally; Wholesale Banking in over 35 countries keeps large clients on long-term, high-touch coverage.
| Metric | 2025 |
|---|---|
| Customers | 38 million |
| Digital service share | 90%+ |
| Wholesale countries | 35+ |
Channels
Mobile banking app
ING Groep N.V. uses the mobile banking app as a core retail channel for payments, balance checks, transfers and product servicing. In its latest annual reporting, ING served 39.4 million customers, and mobile access stays central to its digital-first model.
Internet banking platform
ING Groep N.V. still uses its internet banking platform as a core service channel for retail and business clients, with digital self-service covering account views, payments, and cash management beyond the mobile app. In 2025, ING served 40+ million customers, so this web channel stays vital for deeper account control and more complex transactions.
Relationship managers and corporate bankers
ING Groep N.V.'s relationship managers and corporate bankers are key for wholesale and business clients who need direct human contact, especially for complex, high-value deals. ING’s Wholesale Banking team serves clients in over 40 countries, and these bankers coordinate lending, trade finance and advisory solutions to keep large corporate relationships sticky and efficient.
Branches and service touchpoints
Physical touchpoints still matter for ING Groep N.V. in selected markets, mainly for onboarding, advice, and issue resolution. The branch network is now more targeted than before, with day-to-day service shifting to digital channels, so branches focus on higher-value customer needs rather than broad coverage.
- Targeted branch use
- Supports onboarding
- Helps with advice
- Resolves complex issues
Partner and intermediary distribution
ING Groep N.V. uses brokers, advisers, and strategic partners to place mortgages, investment-linked products, and specialty finance with hard-to-reach customer groups. In 2025, this channel model supported ING’s scaled retail and wholesale reach across Europe, helping the bank serve millions of customers without relying only on direct branches.
- Brokers expand mortgage reach
- Advisers support investment-linked sales
- Partners help target niche finance
ING’s Digital-First Banking Channels Drive 40M Customer Service
ING Groep N.V. channels are led by mobile and internet banking, which support self-service for its 40.0 million customers in 2025. Relationship managers and corporate bankers handle higher-value wholesale and business clients in 40+ countries, while branches stay focused on onboarding and complex help.
| Channel | Role |
|---|---|
| Mobile app | Main retail service channel |
| Internet banking | Web self-service and cash management |
| RM / corporate bankers | Wholesale and business coverage |
| Branches / partners | Onboarding, advice, niche sales |
Customer Segments
Retail banking customers
Retail banking customers are ING Groep N.V.'s core franchise: individual consumers use its deposits, payments, mortgages and loans for daily banking and longer-term borrowing. ING served about 40 million retail customers across multiple countries in 2025, making this segment the main engine behind stable funding and recurring income.
Mass affluent and savings clients
Mass affluent and savings clients are a core retail base for ING Groep N.V., with larger balances flowing into savings and investment products. In 2025, ING served about 38 million retail customers and held around €650 billion in customer deposits, showing why this group matters for stable funding, digital usage, and deeper product cross-sell.
Small and medium-sized enterprises
SMEs use ING Groep N.V. for working capital, lending, payments, and cash management, and they value simple access plus fast credit calls. This segment matters because it drives recurring transaction flow and cross-sell growth across products and relationships.
Mid-market and large corporate clients
ING Groep N.V. serves mid-market and large corporates through Wholesale Banking, using loans, trade finance, capital markets, and advisory to handle complex funding and treasury needs. These ties are often multi-product and cross-border, supporting clients in more than 40 countries; ING reported €8.0 billion net profit in 2024 and a 13.6% CET1 ratio.
- Complex financing and treasury needs
- Loans, trade finance, markets, advisory
- Multi-product, cross-border relationships
Financial institutions and other professional clients
ING Groep N.V. serves banks and institutional counterparties with payments, financing, capital markets, and liquidity tools. In 2025, this client base kept wholesale activity and market connectivity moving across cross-border flows, funding, and balance-sheet management.
- Bank and institutional clients
- Payments, financing, capital markets
- Liquidity support for wholesale flows
ING’s Retail Scale and €650B Deposit Power Drive Its Global Franchise
ING Groep N.V. mainly serves retail customers, with about 40 million clients in 2025 using deposits, payments, mortgages, and consumer loans. SMEs, mass affluent savers, and wholesale clients also matter, with around €650 billion in customer deposits and cross-border lending, trade finance, and treasury services.
| Segment | 2025 scale | Main use |
|---|---|---|
| Retail | ~40 million | Daily banking |
| Deposits | ~€650 billion | Stable funding |
Cost Structure
Interest expense on deposits and wholesale funding
ING pays interest on customer deposits and wholesale funding, so the cost line moves with market rates and liquidity spreads. In 2025, the ECB deposit facility rate fell from 4.00% to 2.00%, which fed directly into ING Groep N.V.'s funding cost base and net interest income.
Personnel and compensation costs
ING Groep N.V. had about 60,000 employees in 2025, and pay, benefits and incentives remained one of its biggest operating costs. That spend matters most in wholesale banking and compliance, where bankers, technologists and risk teams protect revenue and keep the bank within strict rules.
Technology and infrastructure costs
Technology and infrastructure costs are a major ING Groep N.V. expense, because digital banking depends on software, cloud hosting, cybersecurity, and constant core-system upgrades. In 2025, ING served more than 40 million customers, so platform reliability and scale matter; those investments sit inside a 2024 operating cost base of about €12.3 billion and help keep services stable as usage grows.
Credit risk provisions and regulatory costs
ING Groep N.V. carries credit risk provisions as loss allowances for expected credit deterioration, while its regulated banking model also absorbs heavy compliance, audit, and supervisory costs. In 2025, these costs stayed material because ING had to protect a lending book of roughly €700 billion and keep a CET1 ratio above its 2025 target range of 12.5%–13.0%.
- Loss allowances cover expected credit losses.
- Regulation adds fixed operating costs.
- Capital rules make these costs unavoidable.
Operations, network and marketing costs
ING Groep N.V. still spends heavily on customer service, processing, branch operations, and brand spending, even with its digital-first model. In 2024, operating expenses were about €11.2 billion, showing that distribution and customer acquisition need steady support across markets.
- Customer service keeps clients active.
- Processing and branches add fixed costs.
- Brand spend supports new account growth.
ING’s 2025 cost base: staff, tech, and lower rates squeeze margins
ING Groep N.V.’s cost base in 2025 was driven by staff, tech, funding, and compliance: about 60,000 employees, a €12.3 billion operating cost base, and expected credit loss charges tied to a lending book near €700 billion. Lower ECB rates, from 4.00% to 2.00% in 2025, reduced funding costs but also pressured net interest income.
| Cost driver | 2025 data |
|---|---|
| Employees | ~60,000 |
| Operating cost base | ~€12.3 billion |
| Lending book | ~€700 billion |
| ECB deposit rate | 4.00% to 2.00% |
Revenue Streams
Net interest income from lending and deposits
Net interest income is ING Groep N.V.'s core banking revenue stream: it earns on the spread between loan yields and funding costs. In 2025, this engine was still anchored by mortgages, consumer credit and corporate lending, with ING posting about €15.0 billion in net interest income, showing how loan growth and deposit pricing drive earnings.
Fees and commissions
ING Groep N.V. earns fee income from transaction banking, payments, account services and some lending products, plus cash management and trade services for corporate clients. In 2025, net fee and commission income was about €5 billion, helping balance earnings beyond interest margins.
Capital markets and advisory income
ING Groep N.V. earns capital markets and advisory income from debt and equity underwriting, corporate finance advice, and structured finance. These fees rise with deal flow and client execution, and they matter most in Wholesale Banking, where ING reported €6.4 billion in total income in 2025.
Treasury, trading and financial market income
ING Groep N.V. earns treasury, trading and financial market income from market-making, FX hedging and client risk-transfer services. These revenues are more cyclical than retail banking, and they sit in a business mix where 2025 wholesale income was part of ING’s €22.8 billion total income base.
Supports FX and hedge needs
Depends on market volatility
More cyclical than retail fees
Investment and insurance-related distribution income
ING Groep N.V. earns extra income by distributing and servicing savings, investment, and insurance-linked products alongside lending. In FY2024, net fee and commission income was €2.4 billion, showing how this non-interest stream helps balance core lending revenue.
- Boosts fee income
- Uses existing client base
- Reduces reliance on lending
ING’s 2025 income mix: interest-led growth with rising fee income
ING Groep N.V.'s revenue mix in 2025 was led by net interest income from lending and deposit spreads, plus growing fee income from payments, cash management and account services. Capital markets, advisory and trading added more cyclical income, while the full base reached €22.8 billion total income and about €5 billion in net fee and commission income.
| Revenue stream | 2025 |
|---|---|
| Net interest income | €15.0 billion |
| Net fee and commission income | ~€5 billion |
| Total income | €22.8 billion |
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