ING to take next step in digital banking in the Netherlands
(Thomson Reuters ONE) -
* Omni-channel approach to create consistent customer service
* Investment of EUR 200 million to further simplify and automate IT systems
and processes
* Measures to result in reduction of ING's Dutch workforce by 1,700 FTEs over
a three-year period and a pre-tax provision of around EUR 320 million in
4Q14
* Expected annual gross savings of around EUR 270 million from 2018 onwards
In order to improve the customer experience and enhance operational excellence,
ING will take measures to further expand digital banking, strengthen local
advisory capabilities in the branch network and to make additional IT
investments in its Dutch retail banking unit. These measures follow earlier
initiatives in 2011 and 2012. The steps announced today will result in a
workforce reduction and will lead to significant cost savings in the coming
years.
Ralph Hamers, CEO of ING Group said: "In today's digital world, change is a
constant factor. Customers are using a range of channels for their banking
needs. They expect to do their banking the way they want, when they want and in
a consistent, reliable, clear and easy way. In this environment we need to
continuously improve our service. We are creating a consistent customer
experience by integrating our service channels in the Netherlands and by making
a substantial investment to simplify and upgrade our IT systems. Unfortunately,
the more efficient way of working will impact many of our employees. We will do
our utmost to build on our track record of helping the employees affected to
find new job opportunities."
Currently, ING uses different IT systems for mobile app, website, call centre
and branches. As a consequence, not all customer information is readily
available in each channel. By moving to an omni-channel approach, customers can
do all their banking digitally and the information will be available across all
channels to provide a better, more seamless service. In addition, ING continues
to invest in local advisory capabilities by making the expertise in branches
more accessible via ING's other service channels. As a result of these changes,
customers can be offered more relevant, timely, and pro-active service and
advice.
To support the omni-channel approach and to increase the reliability, efficiency
and agility of its IT systems and operations in the Netherlands, ING will make
further IT investments. These investments, which will lead to a more simplified
IT landscape with standardised IT systems and highly automated processes will
amount to a total of approximately EUR 200 million from 2015 to 2017. Total
structural gross cost savings in addition to the existing running programs
amount to approximately EUR 270 mln.
The further digitisation of ING's banking services, the reduction of IT systems
to be managed and the increased number of automated processes is expected to
result in a further reduction of ING's workforce in the Netherlands by around
1,700 FTEs over the next three years, mostly at the headquarters of ING Retail
Banking and in the back offices, call centres and IT departments. For this, a
pre-tax redundancy provision of EUR 320 million will be booked in the fourth
quarter of 2014. In addition, ING will reduce the number of positions employed
by external suppliers by 1,075.
NOTE FOR EDITORS
Ralph Hamers will discuss the announcements made today in a media conference
call on 25 November 2014 at 9:00 a.m. CET. Journalists can join the conference
call via the Q&A-mode at +31 20 341 8249 (NL) or +44 203 365 3210 (UK).
For further information on ING, please visit www.ing.com. Frequent news updates
can be found in the Newsroom or via the (at)ING_news twitter feed. Photos of ING
operations, buildings and its executives are available for download at Flickr.
Footage (B-roll) of ING is available via videobankonline.com, or can be
requested by emailing info(at)videobankonline.com. ING presentations are available
at SlideShare.
For convenient access to the latest financial information and press releases
both online and offline, download the ING Group Investor Relations and Media app
for iOs on the Apple Store or for Android on Google Play.
Press enquiries Investor enquiries
Carolien van der Giessen ING Group Investor Relations
+31 20 576 6386 +31 20 576 6396
Carolien.van.der.Giessen(at)ing.com Investor.Relations(at)ing.com
ING PROFILE
ING is a global financial institution of Dutch origin offering banking services
through its operating company ING Bank and holding significant stakes in the
listed insurers NN Group NV and Voya Financial, Inc. The purpose of ING Bank is
empowering people to stay a step ahead in life and in business. ING Bank's
53,000 employees offer retail and commercial banking services to customers in
over 40 countries.
ING Group shares are listed (in the form of depositary receipts) on the
exchanges of Amsterdam (INGA NA, ING.AS), Brussels and on the New York Stock
Exchange (ADRs: ING US, ING.N).
Sustainability forms an integral part of ING's corporate strategy, which is
evidenced by ING Group shares being included in the FTSE4Good index and in the
Dow Jones Sustainability Index (Europe and World) where ING is the industry
leader in the diversified financials group.
IMPORTANT LEGAL INFORMATION
Certain of the statements contained in this document are not historical facts,
including, without limitation, certain statements made of future expectations
and other forward-looking statements that are based on management's current
views and assumptions and involve known and unknown risks and uncertainties
that could cause actual results, performance or events to differ materially
from those expressed or implied in such statements. Actual results,
performance or events may differ materially from those in such statements due
to, without limitation: (1) changes in general economic conditions, in
particular economic conditions in ING's core markets, (2) changes in
performance of financial markets, including developing markets, (3)
consequences of a potential (partial) break-up of the euro, (4) the
implementation of ING's restructuring plan to separate banking and insurance
operations, (5) changes in the availability of, and costs associated with,
sources of liquidity such as interbank funding, as well as conditions in the
credit markets generally, including changes in borrower and counterparty
creditworthiness, (6) the frequency and severity of insured loss events, (7)
changes affecting mortality and morbidity levels and trends, (8) changes
affecting persistency levels, (9) changes affecting interest rate levels, (10)
changes affecting currency exchange rates, (11) changes in investor, customer
and policyholder behaviour, (12) changes in general competitive factors, (13)
changes in laws and regulations, (14) changes in the policies of governments
and/or regulatory authorities, (15) conclusions with regard to purchase
accounting assumptions and methodologies, (16) changes in ownership that could
affect the future availability to us of net operating loss, net capital and
built-in loss carry forwards, (17) changes in credit-ratings, (18) ING's
ability to achieve projected operational synergies and (19) the other risks
and uncertainties detailed in the risk factors section contained in the most
recent annual report of ING Groep N.V.
Any forward-looking statements made by or on behalf of ING speak only as of
the date they are made, and, ING assumes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new information
or for any other reason. This document does not constitute an offer to sell,
or a solicitation of an offer to buy, any securities.
PDF version of press release:
http://hugin.info/130668/R/1873892/660070.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ING Group via GlobeNewswire
[HUG#1873892]
Unternehmensinformation / Kurzprofil:
Datum: 25.11.2014 - 06:59 Uhr
Sprache: Deutsch
News-ID 355163
Anzahl Zeichen: 9245
contact information:
Town:
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Kategorie:
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