ING (INGA) Launches Subscription Banking Model to Boost Fees

ING (INGA) has introduced a subscription-based banking model for clients in the Netherlands, aimed at diversifying income streams. The model, expected to roll out across its markets by mid-2027, is projected to significantly contribute to fee income, according to Sali Salieski, Global Head for Private Individuals. ING has reported steady double-digit growth in fee and commission income, which was €1.24 billion ($1.43 billion) in Q1, comprising 21% of total revenue. This initiative is a response to increasing competition from digital banks like Revolut, which may value at up to $200 billion if it proceeds with an IPO.