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ING

“Can a large pan-European universal bank become the financial operating system for retail and SME customers by embedding third-party fintech capabilities (insurance, lending, open banking) directly into its own customer journeys?”

Founded1991
HQAmsterdam, Netherlands
IndustryBank / National

The story

ING is a large pan-European universal bank that has increasingly pursued an embedded finance strategy by layering fintech partnerships on top of its regulated banking infrastructure. It has used its banking license and distribution to embed insurance (via Qover), lending (via Amazon marketplace partnerships), and open banking APIs (developer.ing.com) rather than building all capabilities in-house. The 2025 wind-down of the ING-Amazon Germany lending partnership underscores the execution challenges of embedded finance at scale, while the 2026 MGA launch with Qover signals a deepened commitment to insurance-as-a-service.

Last 12 months

2025-06

ING Germany and Amazon end their five-year lending partnership due to low loan volume; Amazon replaces ING with YouLend.

2026-04

ING launches as an MGA with Qover as its technology partner, allowing ING to directly accept insurance applications and handle claims for its 800,000 insurance customers.

2025-07

ING Luxembourg publishes updated outsourcing summary table (Appendix 2) for Retail & Private Banking clients, effective 1 July 2025.

Product timeline

1991

ING Group formed from merger of NMB Postbank Groep and Nationale-Nederlanden.· banking

2020

ING Germany launches fixed-amount loan product for Amazon merchants via embedded lending partnership.· lending

2022

ING Germany and Amazon expand cooperation with flexible revolving credit line (Flexkredit) for SME sellers.· lending

2023

ING and Qover launch 'ING Do More' embedded insurance program for ING Green Account holders.· banking

2025

ING Germany and Amazon end their lending partnership after five years due to low volume; Amazon replaces with YouLend.· lending

2026

ING becomes an MGA (Managing General Agent) with Qover as technology partner, enabling ING to directly handle insurance applications, claims, and premiums.· banking

Regulated entities

National Bank Charter

Netherlands (DNB/ECB)

ING Bank N.V.

Bank

Luxembourg (CSSF)

ING Luxembourg, Société Anonyme

Bank

Poland (KNF)

ING Bank Śląski S.A.

MGA (Managing General Agent)

Belgium · 2026

ING Belgium S.A./nv

In the press

embeddedfinancereview.com ↗

Coverage sourced from Embedded Finance Review — a content partner for this report. All articles are © their original authors; click any card to open the source.

◇ article2025-06-20

Embedded Finance Reality Check: Why ING & Amazon Germany Partnership Failed

ING and Amazon Germany end lending partnership after five years due to low volume. Why the product wasn't truly embedded and what Amazon's Youlend replacement reveals.

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