What kind of company is ING DIRECT?

ING DIRECT is a financial institution that was established in 1997 as a subsidiary of the multinational banking and financial services corporation, ING Group. It was originally founded in Canada and quickly gained popularity for its innovative online banking services and customer-centric approach.

ING DIRECT aimed to simplify banking for customers by offering straightforward products and services, without the need for physical branch locations. This approach resonated with customers who were seeking convenience, transparency, and competitive rates.

Over the years, ING DIRECT expanded its operations to other countries, including the United States, Australia, and various European countries. It primarily focused on providing retail banking services, such as savings accounts, mortgages, personal loans, and investment products.

What set ING DIRECT apart from traditional banks was its emphasis on customer experience and technology-driven solutions. The online banking platform offered a user-friendly interface, 24/7 access to accounts, and features like mobile banking and remote check deposits.

In 2012, ING Group decided to sell its U.S. subsidiary, ING DIRECT, to Capital One Financial Corporation. The acquisition allowed Capital One to strengthen its presence in the online banking market and expand its customer base.

As a result of the acquisition, ING DIRECT U.S. rebranded and became known as Capital One 360. However, the legacy of ING DIRECT's customer-centric approach and innovative banking solutions continue to influence the services and offerings provided by Capital One.

In summary, ING DIRECT was a pioneering online bank known for its customer-centric approach, simplified banking products, and emphasis on technology. While the brand has transitioned to Capital One 360 in the United States, its impact on the online banking industry remains significant.