ING Launches Subscription Banking Model Across Europe to Boost Fee Income
ING has launched a tiered subscription-based banking model in the Netherlands, with plans to roll it out across all its markets by mid-2027. The move aims to diversify revenue away from interest income and respond to growing competition from digital-only neobanks like Revolut. The shift signals a broader industry trend of traditional banks seeking stable, recurring fee income as post-COVID interest rate tailwinds fade.
ING introduced a subscription banking model for Dutch clients on Wednesday, replacing pay-per-product banking with tiered monthly packages that bundle banking, insurance, and services such as streaming. The bank's Global Head for Private Individuals, Sali Salieski, told Reuters the model is expected to make a 'meaningful' contribution to fee income and will be extended to all ING markets, including Spain, Germany, and Italy, by mid-2027. The model has already been piloted in Belgium, Romania, and Poland. The strategy is partly a response to rapidly expanding neobanks such as Revolut, which is reportedly eyeing an IPO that could value it at up to $200 billion. ING has been prioritizing fee and commission income growth to offset easing earnings from high interest rates, with that income reaching €1.24 billion in Q1 2025, representing 21% of total revenue. Salieski noted the subscription approach would also help lift income in markets where ING has historically charged low or no fees.
What's missing
The article does not specify the pricing tiers or exact services included in each subscription level, nor does it address how existing customers will be transitioned to the new model or whether opt-out options will be available.
What different sources said
- Channel NewsAsiaCenter
ING bets on subscription model to lift fees amid growing digital-banking competition
- Yahoo FinanceCenter
ING bets on subscription model to lift fees amid growing digital-banking competition
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