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ING reaches Open Banking milestone

Published on 01/07/2020

ING in Australia amongst the first non-major banks to release its API to developers

1 July 2020: Today ING becomes one of the first non-major banks to release its product reference data to developers for Open Banking in Australia.

The digital bank has hit the original 1 July deadline despite the ACCC granting non-major banks a three month extension because of the COVID-19 pandemic.

Melanie Evans, ING’s Head of Retail Banking says:

“Open Banking is ultimately intended to be about putting the customer in the driving seat of how their data is used. Not only will it accelerate competition in banking, it will enhance the customer experience giving them even more control of how they manage their finances.”

“At ING we take Open Banking very seriously. Even though we had the option to delay this milestone we never considered doing so.”

By releasing its product reference data, ING is enabling third party developers to have access to information about its products and services.

“This step towards Open Banking is an important one as it means developers can make a start on creating new banking experiences which Aussies will be able to take advantage of when Open Banking becomes available for banking customers. This could eventuate to include things like enhanced comparisons of banking services or being able to see and control multi-bank accounts from one app.”

The product reference data is accessible via ING’S API that covers the following products:

  • Orange Everyday
  • Orange Everyday Youth
  • Savings Maximiser
  • Savings Accelerator
  • Personal Term Deposit
  • Business Optimiser
  • Business Term Deposit
  • Wholesale Term Deposit
  • Orange One
  • Orange One Platinum

Product reference data for other products will become available at a later date, with consumer data to follow.

Developers wanting to find out more and to get access to ING’s API go to: https://developer.ing.com.au/

-ENDS-

 

Notes to editors

For more information contact Megan Landauro on 0413 317 225 or megan.landauro@ing.com.au

 

About ING

ING changed the way Australians bank 20 years ago by launching the country’s first high interest, fee free online savings account. Since then, we’ve brought continued value to customers with home loans, transactional banking, superannuation, credit cards, personal lending and insurance.

 

ING is Australia’s most recommended bank according to RFi XPRT Survey October 19 – April 20 (n = 3839) when compared to customers of 20 other banks operating in Australia. It is also Australia’s fifth largest main financial institution with 6% of market share according to RFi XPRT Survey, January – June 2020 (n=31,562).

 

ING Bank (Australia) Limited ABN 24000893292 AFSL and Australian Credit Licence 229823. Information in this media release is general information only and we have not taken your financial circumstances, objectives, needs or requirements into consideration.

 

 

Media Enquiries

David Breen
Head of Corporate Affairs
0412 933 060
David.Breen@ing.com.au

Megan Landauro
Public Relations Manager
0413 317 225
Megan.Landauro@ing.com.au

ING
60 Margaret Street
Sydney NSW 2000

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