Fears of technology displacing human workers are often dismissed by futurists as technophobia or Ludditism, but a Monday “strategy update” from the Dutch bank ING may change the conversation. In the next five years, the bank expects to reduce its workforce by around 5,800 workers, mostly in Belgium and the Netherlands,Read More
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Atlanta-based small business lender Kabbage is snapping up bank deals in Europe. Yesterday, the company announced it had reached an agreement with Santander UK to serve the bank’s SME customers. This follows a similar deal with ING in Spain last October. “Kabbage’s business growth throughout Europe, the Middle East and Africa has been exponentialRead More
The fintech companies in the area around Brussels Airport, where two explosions killed at least 11 people today, that has become a fintech hub in recent months report no damage or terrorist activity. ING Belgium this year opened the FinTech Village, and its offices are located about 2.5 miles fromRead More
Funding Circle and Kabbage, both alternative lenders for small businesses, are heading across the pond. Marketplace lender Funding Circle, which began in the U.K. in 2010 before moving to the U.S. in 2013, is expanding to continental Europe with the acquisition of Berlin-based Zencap, announced Oct. 20. This fits Funding Circle’s growth strategyRead More
Those Dutch know how to fintech. From Rabobank to Adyen to ABN Amro (or at least before it imploded with the credit crisis), the Netherlands has been a global spark for fintech evolution in recent years. Which is why ING Groep NV‘s fintech strategy deserves a look. Today, the DutchRead More
BIAN is trying to build the perfect bank. This week BIAN, which stands for the Banking Industry Architecture Network — will release version 3.0 of its Service Landscape, a “bank on paper” that covers all the major business processes of a bank — some 280 at this point. The organization hasRead More
Being ahead of the curve might not be a good thing at Capital One Financial Corp. Richard D. Fairbank, Capital One’s founder, executive chairman, chief executive officer and president (yes, lots of official titles), said during the company’s earnings call yesterday that ING Direct might be too far ahead ofRead More