The Dutch company is no longer a bank in some countries, but more of a digital matchmaker between consumers and financial products provided by third parties, explains innovation chief Benoit LeGrand.
In seeking to make make ING the most digitally advanced lender in Europe, CEO Ralph Hamers' motto has been to "disrupt yourself before a competitor does it first." It's safe to say the tumult at the company during the last few weeks isn't what Hamers had in mind.
ING Group sacrificed one of Chief Executive Officer Ralph Hamers' top deputies as the Dutch lender seeks to restore public trust in the wake of a money-laundering scandal.
The "digital asset receipt," similar to ETFs and ATRs, aims to expedite investing in cybercurrencies; CFO is taking the hit for the Dutch bank's lax anti-money laundering controls.
John Gerspach is scheduled to leave next March after 10 years and be succeeded by Mark Mason; ING will pay nearly $900 million for failing to stop money laundering by clients.
Financial institutions are beginning to get on board with the global fight against climate change, but they are still trailing pension funds and insurance companies in putting these concerns into action.
The consortium's Corda Enterprise is designed to let blockchain applications exist behind a company’s firewall but still interact with outside partners.
Though statistically women have trouble getting small business loans, Square's granting more than half its loans to women; latest numbers show only one in four bank senior execs are female.
