ING Launches Subscription Banking Model Across Europe to Boost Fee Income

ING introduced a new subscription-based banking model in the Netherlands, replacing traditional pay-per-product banking with tiered monthly subscriptions that bundle banking, insurance, and services like streaming. The rollout is part of a broader strategy to diversify income streams and protect market share against growing competition from digital-only neobanks, particularly Revolut, which is reportedly considering an IPO that could value it at up to $200 billion. The model, which has already been tested in Belgium, Romania, and Poland, is expected to expand to Spain, Germany, Italy, and other ING markets by mid-2027. ING's Global Head for Private Individuals Sali Salieski stated the subscription model would deliver a "meaningful" contribution to fee income, particularly for markets that traditionally had low or no-fee structures. The bank has prioritized increasing net fee and commission income over recent years to offset declining earnings from the post-COVID interest rate environment, recording double-digit growth in this category with €1.24 billion in Q1 representing 21 percent of total revenue.