ING Pivots to Subscription Banking to Counter Neobank Rivals

The Dutch lender intends to complete the rollout of this subscription strategy across all its international markets by mid-2027. Sali Salieski, Global Head for Private Individuals at ING, noted that the move is designed to diversify income streams and increase the bank's footprint in regions traditionally characterized by low or non-existent service fees. Spain, Germany, and Italy are among the next markets slated for the transition, following initial trials in Belgium, Romania, and Poland.

This shift serves as a strategic hedge against competitors like Revolut, which continues to capture market share and is reportedly eyeing a valuation of up to $200 billion. For ING, the subscription shift is a critical component of its ongoing effort to bolster net fee and commission income. During the first quarter, these commissions reached €1.24 billion, accounting for 21% of the group's total revenue. By bundling everyday banking with value-added services, the bank expects to secure more predictable, long-term growth in its fee-based business segments.