Best Practice Report

The Sources Of ING Direct's Success

How ING Direct Won 17 Million Customers While Still Making A Profit

April 5th, 2007
Benjamin Ensor, null
Benjamin Ensor
With contributors:
Alyson Clarke , Michelle de Lussanet , Catherine Graeber , Lauriane Camus

Summary

ING Direct first opened for business in Canada 10 years ago. In the decade since, the company has become the most successful direct bank in the world with more than 17 million customers in nine countries. ING Direct's strategy of simple products, aggressive prices, and direct distribution has created clear differentiation from its competitors, and helped the bank make profits by keeping costs to a minimum. In the process, ING Direct has made direct banking look simple. Other business strategists can learn from ING Direct's combination of a simple offering, high-quality execution, and bold pursuit of scale.

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