ING Hunt for Lions

1. BRANCH
vs.
DIGITAL
BANKING
HUNT FOR THE LIONS – THE ING WAY
VIPUL JAIN
DELHI SCHOOL OF MANAGEMENT, DTU
FIRST YEAR, MBA

2. Executive Summary
• Users have gone digital, and so does everyone who wants to grow, needs to.
• A survey of 3000 people confirms this trend and highlights the importance of
internet & mobile banking.
• ING has a great deal of products to offer, but little online presence.
• SWOT Analysis of Branch & Digital Banking focus that even though digital is the
trend to follow, branch banking cannot be ignored.
• ING needs tie-ups with payment gateways to show
ING among the popular banks on top.
• A budget needs to be allotted for advertisement,
which is next to none right now. (TV, Radio, Facebook
promoted Ads, Metro banners)
• Creative schemes to lure customers (‘really’
personalized cards, integrated shopping portal)
• Focus on the really innovative & beneficial features
being offered (Bill notifications, FD+, Interest Rates)

3. SWOT Analysis – Branch Banking

4. SWOT Analysis – Branch Banking
S Human Factor – Not everyone is tech savvy, a human face is always required to
handle such customers.
S Humans don’t run on Wi-Fi signals.
W A busy day does see some disgruntled customers
W Buildings, AC’s, PC’s, other equipment, salaries – everything costs!
O You show people your establishments to impress them, or maybe even people
accompanying them.
O A constant reminder every few kilometers about the ING Vyasya Bank
T If people know there isn’t proper space to park their vehicles at the bank, they
avoid visiting. I do.
T Rude customers test the staffs’ patience & someone’s outburst might hurt the
image of the bank
T Well, guards & cameras are there for a reason, a very negligible threat but very
important.

5. SWOT Analysis – Digital Banking

6. SWOT Analysis – Digital Banking
S Everything at your fingertips
S I pay my electricity bill in 40 seconds, at max, by using net banking.
W No internet, no access
W Need secure payment gateways and servers good enough to handle a
large number of customers at once
O Like the current deals on ING – “Get a free movie voucher on payment of
bills” or “ING e-deals”
O Example - SBI Marketplace
T People fall for “You have won $1 million, please send your account details!”
T Quite often, user’s internet goes down during a transaction.

8. Survey Findings
• This survey has been done by PwC (Pricewaterhouse Coopers), world’s 2nd
largest professional services network, as measured by 2013 revenues.
Survey Source: Digital Banking Survey
• Digital facilities are a top
priority for new customers,
specially Generation Y
• Not only Net Banking but
Mobile Banking is equally
important, a fact that many
financial institutions ignore

9. • Provision to create FD’s, transfer
funds and even download Loan
forms should be made available
on the mobile platform.
• The ING mobile app - With a good
presence, 4.1 rating & constant
replies to issues, it looks like this
area is covered.

10. • Clearly customers are willing to pay for better services, surprisingly, in a
cost-conscious nation like India too. This supports new steps that can be
taken by ING (personalized cards, marketplace), would be welcomed.
• Example: I had a SanDisk 16GB 3.0
pen drive that wasn’t working up to
it’s mark. I sent one email proving my
claims and they promptly offered me
a replacement. And instead of a 16GB
model they offered me the 32GB, free
of cost, just for the trouble.
Since then, even though there are
many cheaper alternatives to it, I
always go for & recommend SanDisk.
In fact SanDisk is the first name that
pops in my head when I hear ‘Service’.

11. Roadmap Towards Digital Banking
• Try to purchase www.ingvysya.com too & redirect users to bank website like
www.ing.com does
• Allow personalized Credit/Debit cards. Example – ICICI Expressions
• Keep up the promotional offers where using ING Cards/Net Banking avails the user
a discount or cashback
• Needs more visibility on Payment gateways. Examples -

12. • Creative initiatives to increase the ING brand presence, like ICICI is doing
with its Unifare Credit Card (Metro Smart Card + Credit Card)
• Convenient/Easier, yet secure payment.
ICICI has a password grid for secure
payments, but it remembers regularly
visited websites and skips this
authorization on such websites giving a
personal touch to the customer’s
shopping experience.

13. Existing ING Products
• ING Mobile App
• Well made Eye-catching design. Low size so that low end devices can install too.
• Constant updates unlike primitive app design like ICICI
• Unique features like Bill Payment Reminder, Cheque Tracker
• A link to the mobile app should be on the Homepage
• ING Fixed Deposits
• High interest rates compared to other banks.
• Example: The attractive 61+ days period
• ING Saving Banks Accounts
• All types of accounts available
• The Zing savings though has a minimum balance of
Rs.2500, while public banks like SBI, Corporation offer
Savings A/C at Rs.1000.

14. Conclusion
• ING has a lot to offer (in terms of digital & physical banking)
• But due to lack of advertising, these features go unnoticed to the masses
• Visibility is key!
• The trend is shifting towards Digital Banking, so more focus and resources
should be put into that area
• Some unexplored options can be tested in focus groups like a marketplace,
personalized & multi-purpose cards, feedback form in ING Mobile app for
additional features users would like to add
• A link to the mobile App on the ING Homepage

15. THANK YOU