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Case Study

ING Direct USA - Rebel with a cause

By Adrian B. Ryans, Stephanie Maria Sequeira and Terry Deutscher

16 pages

June 2007

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Reference: IMD-3-1845

Arkadi Kuhlmann launched ING DIRECT USA in 2000. The direct bank was very successful and by 2006 it had grown to be the largest online banking business and the 3rd largest savings-and-loan institution in the US. Faced with fierce and growing competition from both other direct banks and the online banking operations of such major traditional banks as Citibank and HSBC was faced with some tough decisions about how to move forward. One of the options under active consideration was the launch of a high interest paying checking or payments account. This was a product that ING DIRECT USA had always avoided in the past due to its complexity and high support costs.

Learning Objective

The challenges facing a successful low cost competitor as it responds to a changing market environment and increasing competitive pressure from established banks.

Keywords

Direct Banking, Low Cost Competition, Competition, Simplicity, Innovation, Entrepreneur, Marketing Strategy, Financial Services, Product Strategy, Retail Banking, General Management, Strategy

Settings

United States of America
October 2006

Type

Field Research

Available Languages

English

Related material

Teaching note, Video

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