“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?”
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.
ING discloses ING Bank N.V. (in-house) as its banking provider, according to the Embedded Finance Index 2026.
ING does not disclose a bank charter of its own; its banking services are provided through ING Bank N.V. (in-house).
ING processes payments through ING Payments (self-operated).
ING's cards are issued through ING Bank N.V. (in-house).
ING uses ING Financial Institutions Payment Services (self-operated) for FX and cross-border payouts.
ING's embedded insurance is provided by Qover.
ING integrates with ERP systems (generic via InsideBusiness Connect API) and TMS (Treasury Management Systems via InsideBusiness Connect API).
The Embedded Finance Index 2026 maps 7 layers in ING's stack: Payments / PSP (ING Payments (self-operated)); Banking / BaaS (ING Bank N.V. (in-house)); Card issuing (ING Bank N.V. (in-house)); Lending (ING Business Term Loan, ING Flexkredit (revolving credit line), ING Roll-Over Revolving and B2B BNPL via PragmaGo (imoje payment gateway)); Insurance (Qover); FX & payouts (ING Financial Institutions Payment Services (self-operated)); Accounting (ERP systems (generic via InsideBusiness Connect API) and TMS (Treasury Management Systems via InsideBusiness Connect API)).
ING is founded in 1991 and headquartered in Amsterdam, Netherlands.
Get a read on where your own stack stands against ING and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.