How RISQ l financial institutions Enabled ING to Attain a Smart, Efficient and Effective FI Department

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How RISQ l financial institutions Enabled ING to Attain a Smart, Efficient and Effective FI Department

April 8, 2021

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The ING Group is a multinational financial institution that was founded in 1991 in Holland. It operates through various banking branches like retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. It belongs to the top 30 largest banks in the world with a total balance sheet size in excess of 1,000 bn USD. In 2008, ING expanded its operations in Turkey. From that point on, either through the services they’ve provided or social responsibility initiatives they’ve shouldered, they have been a prominent actor within the baking industry.

Goals and Challenges

ING wanted to enhance its FI department with a solution that enables effectiveness, efficiency, transparency and integrity. In addition, this solution had to cover the parent group requirements inevitably and be deployable in a matter of weeks.

Finding that all-inclusive solution that covers these complex necessities was a must for ING. Thus, the challenges can be summarized as:

  • Finding a multi-dimensional solution that answers the demands of both the subsidiary branch and the parent group.
  • Eliminating all manual processes and enabling the FI department to be fully digital end-to-end. 
  • Reducing operational risks through a more secure, sophisticated  and transparent decision flow.
  • Real-time integration between booking and limit keeping systems to eliminate manual processes and potential limit breaches.

To reach its goals in spite of challenges, ING partnered with RISQ and implemented the industry’s first dedicated end-to-end institutional banking solution RISQ l financial institutions.

 

Download our case study for free and obtain more information about how RISQ l financial institutions empowered ING’s FI department with smart finance solutions. 

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