ING is currently overhauling its innovation management team.
In Brief:
ING is reportedly overhauling its innovation initiatives to decentralise them back to individuals business units.
It will also combine its innovation arm, ING Neo, with the Corporate Strategy team.
The “reshuffle”, according to Finextra, has already led to the departure of Chief Innovation Officer and CEO of ING Ventures, and further changes in the ING Neo team.
What does this mean?
The change happens just two years after ING Neo was formed to take on all of the bank’s innovation programmes. The changes could be a sign that ING is bringing innovation closer to the core strategy teams, but currently the bank has just stated it wants to “sharpen its focus” and concentrate on “a selected few promising initiatives”.
