Lessons from Sibos: why unlocking retail investments is key to Europe’s financial future

A priority of financial leaders at Opens in a new tabSibos is transforming the European market into a true savings and investment union.

The euro area saves more than it invests domestically - the differential amounts to around EUR 400 billion each year. Moreover, EU households keep 31% of their financial assets in cash and deposits and only 15% in listed shares and investment funds.

In a high-profile panel discussion on the Sibos main stage, financial leaders, including INGs Andrew Bester, head of Wholesale Banking, highlighted the urgency to connect household savings to investment in key priorities, reducing reliance on third-country financing, and scaling Europe’s financial ecosystem.

Other panellists giving their ‘view from the top’ included European Central Bank (ECB) executive board member Piero Cipollone and Euroclear CEO Valerie Urbain.

This was evident at Sibos in the many thousands of professionals attending and the lively commercial conversations.

Globally transaction banking revenues are estimated at US$ 1.2 trillion and the market is moving even more to the forefront of treasurers’ minds as digitalisation ramps up and European banks reposition to become more competitive against US players. 

With ING offering payments and cash management, trade finance and our unique cash pooling through Bank Mendes Gans (BMG), transaction banking is a big business with the ambition to become the futureproof growth engine for our Wholesale Bank.

Andrew remarked during the panel session:

Transaction banking is the heartbeat of what we do, making sure cash is flowing. And it plays a critical role for clients, so they can do their business.

Blockchain is still a hot topic in payments, with ING-backed, blockchain-powered trade finance platform Komgo one of the participants at Sibos, alongside many other fintechs. And the topic is hotting up even more, with discussion of the ECB’s digital euro ambition as well as developments in the US and by European banks.

Last week we announced we’re joining eight leading European banks to launch a euro-backed stablecoin, which was elaborated on in discussions with media at Sibos.

Head of Transaction Services Elvira Kruger told reporters:

Our clients will need faster and more efficient payments in the future and we’re looking at new ways of transaction banking by increasingly using the benefits of technology.

ING collected six awards from leading trade magazine Global Finance, including the Best Bank for Cash Management as well as for Payments in both Western and in Central and Eastern Europe.   

It’s a reminder that services such as payments and cash management, trade finance and cash pooling power the global economy and allow business to keep flowing across the globe 24/7 – and that we do it particularly well. Something that was echoed during our many conversations with clients at the event.

Our stand at Sibos is the first to fully integrate our refreshed visual identity, standing out with its sharpened colour palette and new-look logo usage and display font. Used across all communications and marketing assets, one of the stars of the show was a toy lion wearing a ‘TS heartbeat t-shirt' gifted to clients after meetings at the stand.