Now I know new products and acquisitions are not innovations, and mobile banking will quickly become a commodity, but the way in which ING Direct implements things is innovative.
Let’s put it this way, most times I read an “ING” headline, I usually dive deeper into the article with the question “How’d they do that?” To me that is innovation.
And the follow-up question, “What was the return on innovation?”
I’m wary to praise innovation for innovation’s sake. Fun to watch, indeed. But a lot cheaper to follow. In financial services, there aren’t a lot of rewards for being first-to-market. Exclusivity on any idea is (next to?) impossible.
Mark M.
Wow…that’s got to be the most loaded question on here right now!
I’m sure there’s a ton of great answers out there, but I keep coming back to ING Direct. From starting off the year by rolling out Electric Orange to the majority of their base, to just yesterday confirming their purchase of Sharebuilder, it seems I couldn’t go a single month without seeing “ING” in the headline of a major blog post or news article. (Oh looks like they even managed to roll out some mobile banking in between.)
Now I know new products and acquisitions are not innovations, and mobile banking will quickly become a commodity, but the way in which ING Direct implements things is innovative.
Let’s put it this way, most times I read an “ING” headline, I usually dive deeper into the article with the question “How’d they do that?” To me that is innovation.
Jeffry P.
And the follow-up question, “What was the return on innovation?”
I’m wary to praise innovation for innovation’s sake. Fun to watch, indeed. But a lot cheaper to follow. In financial services, there aren’t a lot of rewards for being first-to-market. Exclusivity on any idea is (next to?) impossible.