ING Direct is pleased to announce it has welcomed its 4 millionth customer. In only four months time, from March until June 2002, ING Direct has managed to attract 1 million new customers world-wide.
The 4 millionth customer opened an Orange Account at ING Direct in Spain. ING Direct Spain began its operations in May 1999 and currently has well over 500,000 customers with total funds entrusted amounting to EUR 4.8 billion.
ING Direct was launched in Canada in May 1997 and is now also active in Spain, Australia, France, the United States, Italy and Germany (through DiBa). The strategy of ING Direct is to be a low-cost provider of financial services in large mature markets by offering its clients best value for money and excellent service via call-centres and the Internet. ING Direct uses a high-rate, no-fees, no-minimum savings account as an entry product. After reaching a minimum customer base, ING Direct business units complement the savings account by cross-selling a focused range of other financial products concerned with wealth accumulation such as mortgages, mutual funds, e-brokerage, pensions and life insurance.
On 30 June 2002, total funds entrusted at ING Direct amounted to EUR 42 billion.
(source: ING Direct)