Launching 2 new ventures with ING

Discover how we built 2 new ventures with ING during a changing banking climate.

ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, asset management, and insurance services. In 2018, it served 38.4 million customers in over 40 countries.

ING reached out to Board of Innovation to help it look for opportunities under the European Commission’s banking legislation PSD2 (Revised Payment Service Directive), a law that opens up the financial services market to 3rd party providers.

This move has the potential to radically change the banking landscape. As banks no longer have a monopoly on their customers’ bank account information and transaction data under the new regulation, ING’s goal was to build new ventures to create safe technology that would make their customers’ lives easier. In short, how to serve customers while protecting customer data.

Tech solutions
that create impact.

Together with Board of Innovation, ING looked for ways to serve their customers better. ING began a 3-month innovation accelerator program under ING Lab designed to help two teams find opportunity areas in the market, initiate new ideas, and bring two new ventures to ING customers.


At the beginning of the accelerator, two teams of three people defined and explored six opportunity areas. In March of this year, ING rolled out the two new ventures — invisible ticketing and instant mortgages — results of the successful ideas that teams came up with during the accelerator program.

Breaking from traditional
banking through innovation.

Invisible ticketing has just launched on the market in the Netherlands, two years after the accelerator began. The app allows people to pay for public transportation without having to do anything. The customer’s mobile phone detects when they are travelling on a bus, tram or train, automatically calculates the fare, and then withdraws it from their bank account at the end of the trip.


The service means an end to having to pay for a ticket or transportation pass with cash or card. It also opens up the possibility for transport companies to alert customers when there are delays or cancellations on a certain bus route. The plan is to introduce the service in France Italy, Germany and the UK.


Instant mortgages, which just rolled out in France, approves mortgage applications in two days. By digitally collecting and analyzing bank transaction data, it becomes easier for ING to make a faster decision on loan disbursement, cutting down the long processing and cutting out paperwork and the stress of waiting to hear back.

After 10 months of the project, ING had already launched a family and friends’ pilot in France. The service became available to the wider public 9 months later. Plans are now underway to launch in other ING countries, such as Germany, in the following years.

ING named most innovative bank in Western Europe

ING has scooped the pool in Global Finance magazine’s Innovators 2020 awards taking home four gongs including the Most Innovative Bank in Western Europe. The bank also won awards for home grown innovations in the following sectors: Cash Management, Corporate Finance and Payments.

ING-backed Cobase raises €10M

Great to see Cobase growing to become a mature company. They completed of our ING’s accelerator program back in 2016 and the concept was tested via prototyping, customer interviews and market research. Cobase is now entering its scale-up phase and has again raised a notable sum of €10M.