Background

ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING is empowering people to stay a step ahead in life and in business. ING employ over 53,000 people who serve around 384 million customers, corporate clients and financial institutions in over 40 countries.

Challenge

ING business customers receive thousands of multi-currency payments through cheques, bank transfers and credit card. Bank fees and international charges meant that what their business customers were receiving was less than expected. International payments were difficult to reconcile and had missing reference numbers.

Finance departments were bombarded with calls regarding payment confirmation costing business customers significant staff fees to manage.

Solution

ING, one of Europe’s largest banks, decided to invest in TransferMate, a leading cross border B2B payment solution.

This strategic partnership offers TransferMate’s full 360 degree global payables and receivables solution to all ING clients.

Using TransferMate’s award-winning cross-border API technology and global payments licences will reduce their international payments costs.

Helping to improve cash flow for ING business customers who send or collect funds cross border.