ING Bank Invests Heavily in Hong Kong Fintech

Ralph Hamers, CEO of ING

Ralph Hamers, CEO of ING

Dutch ING has invested in Hong Kong fintech WeLab. The stake is in line with the priority of the bank to increase the pace of innovation by working with both dedicated internal teams and external partners.

Hong Kong fintech company WeLab provides consumer loans in China and Hong Kong in a fully automated process that takes minutes from application to approval.

«The stake we have taken in WeLab and the other investments prove that we are determined to transform banking to further improve the customer experience. We will look at the possibilities of starting a partnership with WeLab in ING markets,» said Ralph Hamers, CEO of ING.

Pilot in Spain

The investment announced today follows the equity stake ING had taken in US-based fintech, Kabbage, a leading platform powering automated lending to small- and medium-sized enterprises.

ING made this public on 14 October 2015. On 21 October, the two companies announced a partnership and the start of a pilot in Spain.

Loyalty Platform

In September 2015, ING also announced that it had taken over Qustomer, a digital loyalty platform in Belgium to benefit from the natural fit between loyalty and mobile payments.


Top stories from across the globe

  • Singapore Stresses Under a Wealth of Worries
  • A Short History of Investing in Gold – and What to Expect for 2017
  • Asia Pacific's Top Six Credit Risks For 2017
  • The 5 Most Shocking News in 2016
  • Hazel Moore: Banks Are Completely Wasting Valuable Customer Data
  • Morgan Stanley CEO Makes First-Ever Stock Sales After Bank Rally

PHOTO GALLERIES Networking Event Networking Event

Show pictures

stars China Symposium 2016

stars China Symposium 2016

Show pictures

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary


Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with – email us on – All communication is completely confidential and strictly anonymous.