Question

Q1) To what extent do you think that the future of banking is digitized?

Q2) identify where (in which countries) ING bank operates completely digital?

Q3) With covid-19 affirming most digital banking trends, i was wondering wether ING will increase the digital banking pace! check out their website and identify product/ service that they currently/ in future offer?

Answer 1

1. I believe there is very high scope and extent for the future of the banks to be digitalised around the world. Concerning the biggest banks around the world, most banks have adopted the strategy of e banking and removing the physical banks for the transactions. The use of cheque is going lower and lower as these banks have allowed to transfer funds and money from anywherw around the world and even any amount. Being it some cents or millions of dollars, you can easily convert the money into different currencies, transfer, send, share do anything with this digitalisation of the banking services which has a very higher scope in the coming future as the technology is striking.

2. The countries ING bank operates fully are Germany, Netherlands, Belgium and Luxemburg and other european countries as the bank originates having its root from the Germany and making the surrounding countries being digitalised for the providance and usage of the banking services.

3. With the effects of covid-19 increasing around the world and the services and the business is depending more on the technological services to make sure everything is being consumed and used properly, I believe the impact and the use of this ING bank would eventually increase because of this change around the world. IT processes of the bank are going to be equipped to handle more real time transactions and making the online banking more advice based and user friendly for the people to use in this bank. The bank wants to make sure that every transaction could be easily performed using your smartphone, where the time and money both would be saved of the customer to use the services. This would be more benefecial in the time of covid-19 as more and more people are wishing to have the banking services digitalised which the ING bank is taking full advantage of.