Bigger Story This article is part of ING's Annual Review 2015. read the 2015 Annual review
Our perceived strengths, weaknesses, opportunities and threats
Strength
- Presence in Challengers and Growth markets with moderate to strong economic growth.
- Well-known, strong brand with positive recognition from customers in many countries.
- Strong capital and liquidity position; solid financial and operating performance.
- Omnichannel distribution strategy.
- International network.
- Sustainability leader.
- Leader in digital banking.
Weaknesses
- High interest-income dependency.
- Some legacy IT/operational systems in Market Leader countries.
- Need for more agility.
- Efficiency and teamwork in work processes is suboptimal.
- Diversity challenges.
Opportunities
- Regain trust by demonstrating care, especially towards customers and by explaining better why strategic choices are made (transparency).
- Further improve the customer experience by accelerating innovation. Front-runner status in digital solutions gives ING Bank an edge.
- Further improve efficiency.
- Cultural change. Tap more into the talents of employees. Further develop a transparent and diverse no-nonsense culture.
- Grow faster than the market due to differentiating customer experience.
- Further utilise competitive advantage of Wholesale Banking global network.
Threats
- Currently low/subdued economic growth in markets where ING has significant market positions.
- Low interest rate environment.
- Ongoing uncertainty about regulatory changes, including capital requirements and national discretion.
- Lack of an international level playing field.
- Possibility of threats from new entrants from outside of the industry.
- Financial sector has an unfavourable public image in many countries.
- Cybercrime.