By Mateusz Rabiega and Jakob Van Calster June 10 ING launched a new subscription-based banking model for clients in the Netherlands on Wednesday, in a move aimed at diversifying income streams and protecting its market share.
The Dutch-based bank expects the model, which is to be rolled out across its markets by mid-2027, to deliver a “meaningful” contribution to its fee income, Global Head for Private Individuals Sali Salieski told Reuters
Salieski said the strategy was partly driven by growing competition from digital-only neobanks. Rapidly expanding Revolut, for instance, is reportedly considering an initial public offering that could value it at up to $200 billion. The model would replace pay-per-product banking with tiered monthly subscriptions that bundle banking, insurance and other services such as streaming into a single package.
The model has previously been rolled out in Belgium, Romania and Poland. Salieski said the rest of ING’s markets, including Spain, Germany and Italy, would follow suit. ING expects subscriptions to support continued growth of fee-based revenue, particularly by lifting income linked to everyday banking services, Salieski said.