ING Global Services and Operations Inc. (ING GSO), a unit of Dutch financial institution ING, is expanding its back-office operations in the country to serve the needs of its growing commercial banking business in Asia and Europe.
“ING Bank has been in the Philippines for close to a quarter of a century now. Our decision to choose this country as a key location for our processing and shared services hub is another vote of confidence. We are positive that the country’s business-friendly policies, infrastructure and the pool of Filipino professionals will make ING GSO a significant contributor to the bank’s operational excellence,” said Mark Newman, chief executive officer of ING Commercial Banking in Asia, during the formal launch of ING GSO’s new office in Taguig City on Tuesday.
Newman added that ING GSO is an integral part in the bank’s global strategy to deliver greater efficiency and a consistent higher quality of service to ING clients across businesses, locations and time zones.
Meanwhile, Nigel Smith, president and chief executive of ING GSO, said that one of the organization’s greatest assets is the group of young and dynamic Filipino talent who are keen to pursue a long-term career in banking.
“ING GSO staff are trained and equipped with the necessary skill sets for their area of work, sometimes back at our headquarters in Amsterdam. Besides that, we put a great amount of emphasis on their personal development and training. These initiatives will, in a long run, build a highly motivated team,” said Smith.
He announced that ING GSO will be looking to double its current headcount to 250 by end of 2015, in line with the pipeline of processes that ING GSO will be bringing on board.
ING GSO has completed the renovation of an additional floor in the W Fifth Avenue Building for the projected increase in staff size, Smith added.
“We are very excited to demonstrate what the ING GSO team is capable of. We will continue to provide high quality services to the various departments across ING Bank, and in turn support the bank’s commitment to deliver seamless client experience,” Smith said.
ING GSO started operating in June 2013, offering lending, reconciliation and payment processing, and static data management to support eight ING commercial banking branches in Asia, namely in the Philippines, Singapore, Hong Kong, China, Taiwan, South Korea, Japan and Malaysia.
In July 2014, the scale of processing at ING GSO expanded beyond Asia as it took on the processing services from Amsterdam for ING’s financial markets business.
ING GSO also took on the Trade Finance Services processing from Singapore in August 2014. Today, four teams in ING GSO – Shared Services team; Financial Markets Services team; Trade Finance Services team; and Lending Services team – provide round-the-clock processing for ING’s commercial banking business worldwide.