Western Europe's best for transaction services 2020: ING

As you’d expect from ING, Euromoney’s best bank for transaction services in Western Europe, technological innovation a plays a central role in its wholesale banking offering. 

This is in large part thanks to ING’s global head of transaction services, Mark Buitenhek, who has led the division for more than five years.

This year, ING’s digital-first approach made a number of advances through services developed in-house and fintech partnerships, including those involved with ING Ventures, as in its early investment in Dutch multi-banking transaction services fintech Cobase.

During the year, ING formed a new cash advisory and structuring team for complex transactions. It took a 75% stake in Payvision, a fast-growing international payments firm. It remains one of the world’s leading partner banks in the use of blockchain in trade finance through Easy Trading Connect, Komgo, Vakt, Marco Polo and Contour (previously Voltron).

ING Developer Portal also launched its API Payment Request function, allowing clients to add a lightweight payment option to their own app, with the payment details appearing on the consumer’s smartphone.