ING Turkey

What ING Turkey does

ING Turkey (ING Bank A.Ş.) is the Turkish retail and commercial banking subsidiary of Dutch-based ING Group (Euronext Amsterdam: INGA), headquartered in Istanbul and operating as a wholly-owned private subsidiary. Founded in 2008, the bank serves retail consumers, SMEs, and corporate clients through a digital-first platform covering demand deposits (Turuncu Hesap and Turuncu Genç Hesap), personal and mortgage loans, credit cards, investment funds, insurance distribution (via Zurich Sigorta), private pension / BES (via Allianz Hayat ve Emeklilik), and corporate banking. Over one million customers have been onboarded through digital channels without branch visits.

The technology stack is anchored by the ING Mobil mobile application (iOS, Android, Huawei), with complementary delivery through Internet Şubesi web banking, phone banking, and a 12,000+ ATM network accessed through partnerships with Akbank and Türkiye İş Bankası. Notable technical components include NFC-enabled new Turkish ID card verification, AI-powered multi-party workflow automation that reduced onboarding time from 25 minutes to 6 minutes (a 76% improvement), the INGo text-based chatbot assistant, and the ING Asistan rule engine that monitors accounts and auto-executes defined transactions. ING Turkey is also integrated with the Turkish government's e-Devlet Kapısı portal for public e-services authentication.

Revenue mechanics combine net interest spreads on the daily-interest Turuncu Hesap and loan products (personal, mortgage, vehicle), distribution commissions on Allianz pension and Zurich insurance products, asset management fees on funds including the Gen Z-targeted GNZ fund, and interchange and credit card economics. Pricing follows a freemium model: basic EFT, FAST, transfers, and card annual fees are waived with conditions, while monetization is captured through cross-sell into lending, insurance, pension, and investment products. Customer acquisition is product-led, leveraging a 5,000 TL new-customer cash promotion, up to 45% welcome interest rates, and an unlimited referral program.

Name

ING Turkey

Legal name

ING Bank A.Ş.

Website

https://ing.com.tr

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

ING Turkey (ING Bank A.Ş.) is the Turkish digital-first retail and commercial banking subsidiary of ING Group, serving over one million customers via mobile app with deposits, loans, credit cards, insurance, pension, and investment funds.

Ownership category

akta.pro rank

Headquarters

HQ city

Istanbul

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income: Primary revenue stream from interest charged on personal loans (ihtiyaç kredisi), home loans (konut kredisi), and vehicle loans. Interest rates vary by product type and customer profile.
2. Deposit Interest Spreads: Earnings from spread between interest paid to depositors on savings accounts (Turuncu Hesap) and interest earned from lending activities. Turuncu Hesap offers daily interest with welcome rates up to %45 for new customers.
3. Investment Fund Management Fees: Revenue from managing investment funds including money market funds, bond funds, equity funds, and specialized funds like GNZ Z Generation fund. Fees vary by fund type.
4. BES (Private Pension) Administration: Commission revenue from Allianz Hayat ve Emeklilik A.Ş. for pension fund management. Customers receive %20 state contribution plus investment returns on their pension savings.
5. Insurance Distribution Commission: Commission revenue from distributing insurance products including Benim Evim Konut Sigortası (via Zurich Sigorta), health insurance, vehicle insurance, and life insurance.
6. Fee-Free Banking Model: Revenue generated through credit products, insurance distribution, investment products, and pension services despite offering fee-free basic services (EFT, transfers, credit card fees waived with conditions).

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

ING Turkey (ING Bank A.Ş.) is a digital-first retail bank in Turkey providing comprehensive financial services including daily interest-bearing deposit accounts (Turuncu Hesap), personal and home loans, credit cards, investment funds, home insurance (via Zurich Sigorta), and private pension products (BES via Allianz). Customers access all services primarily through the ING Mobil mobile application, supported by internet banking, telephone banking, and a 12,000+ ATM network.

Product overview

ING Turkey operates as a digital-first bank offering a comprehensive banking platform through multiple channels (mobile, internet, telephone, ATM). The core product portfolio centers on the Turuncu Hesap (Orange Account) as the primary daily interest-earning deposit account, supported by ING Mobil as the main digital banking interface. Credit products include İhtiyaç Kredisi (personal loans) and Avantajlı Konut Kredisi (mortgage with cash back). The Turuncu Ekstra loyalty program links spending rewards to additional savings interest. Insurance products (Benim Evim Konut Sigortası via Zurich) and pension plans (BES via Allianz) serve protection and long-term savings needs. Specialized offerings target youth (Turuncu Genç for 18-27 year olds) and Gen Z investors (GNZ Z Kuşağı Fund). AI-powered customer service includes INGo chatbot and ING Asistan automation assistant. The bank provides free ATM access through partnerships with Akbank and İş Bankası (12,000+ ATMs).

Differentiator

Problem solved

Functional benefit

Brands

• Turuncu Hesap: Daily interest-earning deposit account (vadesiz mevduat hesabı) with welcome interest rates up to 45% for new customers.
• Turuncu Genç Hesap
• ING Bonus Kartı
• INGo
• Benim Evim Sigortası
• ING Bireysel Emeklilik (BES)
• ING Asistan
• GNZ - Ak Portföy ING Z Kuşağı Fon Sepeti Özel Fonu

Products and services

• ING Mobil Mobile banking application enabling 24/7 access to all banking services including accounts, transfers, cards, loans, investments, insurance, and pension products. Features QR code payments, NFC identity verification for onboarding, ING Asistan AI assistant, and biometric login.
• Turuncu Hesap (Orange Account) Daily interest-earning demand deposit account that credits interest nightly. Offers welcome interest rates up to 45% for new customers, with additional interest through linked products like Turuncu Ekstra, investment funds, insurance, credit cards, and BES.
• Turuncu Genç Hesap (Orange Youth Account) Special Turuncu Hesap variant for customers aged 18-27 offering permanent welcome-level interest rates on balances up to 250,000 TL, free digital transfers, no maturity waiting periods, and special currency exchange rates.
• İhtiyaç Kredisi (Personal Loan) Personal loan product available from 2,000 TL to 450,000 TL with interest rates starting from 1.69%. Accessible via ING Mobil with approval in minutes.
• Avantajlı Konut Kredisi (Advantageous Home Loan) Housing mortgage loan with cash back feature. Customers receive daily cash back to their linked demand deposit account, reducing total repayment amount. Available for first home purchases with ING Support Account requirement.
• ING Bonus Kredi Kartı (Bonus Credit Card) Credit card with bonus rewards program. Physical cards have fee waived upon 5,000 TL monthly spending. Digital credit card available with no annual fee. Taksitli Nakit Avans feature offers up to 25,000 TL interest-free cash advance.
• Benim Evim Konut Sigortası (Home Insurance) Home insurance product offered through Zurich Sigorta, covering fire, earthquake, flood, theft, and providing free assistance services including plumber, electrician, locksmith, and hotel accommodation. Customers earn extra interest on Turuncu Hesap when purchasing this insurance.
• Bireysel Emeklilik Sistemi (BES - Private Pension) Private pension system offered through Allianz Hayat ve Emeklilik, providing 20% government contribution on contributions. ING offers up to 5,000 TL cash back promotion for new BES customers and extra interest on Turuncu Hesap. Minimum monthly contribution 1,500 TL.
• Çocuğumla Büyüyen BES (Child Pension Plan) Child pension plan offering 1 gram gold contribution for children aged 0-1, 5% extra contribution on each birthday until age 18, and contribution payment guarantee if parent passes away or becomes disabled.
• GNZ - Ak Portföy ING Z Kuşağı Fon Sepeti (Z Generation Fund) Special investment fund exclusive to customers born between 1996-2012 (Generation Z). Managed by professional fund managers with diversified investment strategy, minimum 80% invested in local and/or foreign investment funds and ETFs.
• ING İnternet Şubesi (Online Banking) Online banking platform accessible via browser with full account management, transfers, investments, insurance, and security settings. Supports individual and corporate login with enhanced security features including OTP and IP restrictions.
• Telefon Bankacılığı (Telephone Banking) Telephone banking service available 06:00-00:00 at 0850 222 0 600, offering account information, transfers, card services, investments, loan information, and customer support with voice signature capability.
• Dijital Müşteri Edinimi - ING'li Ol (Digital Onboarding) Digital onboarding process via ING Mobil using NFC-enabled new Turkish ID card reading and video consultation with customer representatives, enabling new customer acquisition in 5-10 minutes without visiting a branch.
• Turuncu Ekstra Loyalty Program Loyalty program earning 1 point per 1 TL spending. Points can be converted to extra interest on Turuncu Hesap. Offers multiple tiers (Standart, Ekstra, Ultra, Ultra Plus) with increasing point targets and benefits, creating switching costs through accumulated rewards.

Quantifiable outcome

• Onboarding time reduced from 25 minutes to 6 minutes (76% improvement) using AI automation
• +3 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability5 records

Feature7 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• AkbankcoreStrategic or Co-development PartnerATM partnership allowing ING customers to use Akbank ATMs across Turkey free of charge. This partnership expands ING's physical ATM network from own ATMs to over 12,000 total ATMs.
• Türkiye İş BankasıcoreStrategic or Co-development PartnerATM partnership allowing ING customers to use İş Bankası Bankamatik ATMs across Turkey free of charge. Complements Akbank partnership to provide extensive free ATM access.
• e-Devlet KapısıcoreTechnology or IntegrationIntegration with Turkish government's e-Devlet portal allowing ING customers to access government services through ING's digital banking platform.
• Zurich Sigorta A.Ş.coreChannel Partner/ Reseller/ DistributorING Bank A.Ş. is authorized agent for Zurich Sigorta A.Ş., distributing Benim Evim Konut Sigortası (home insurance), DASK (earthquake insurance), and other insurance products through ING channels. ING customers earn extra interest on Turuncu Hesap when purchasing insurance.
• Allianz Hayat ve Emeklilik A.Ş.coreChannel Partner/ Reseller/ DistributorING Bank A.Ş. is authorized agent for Allianz Hayat ve Emeklilik A.Ş., distributing Bireysel Emeklilik Sistemi (private pension) and life insurance products. ING customers earn extra interest on Turuncu Hesap when opening BES accounts. Campaign offers up to 5,000 TL cashback for first-time BES contracts.
• İyi GelirminorGTM or Marketing PartnerPartnership with İyi Gelir investment platform offering premium portfolio analysis tools. ING customers who reach Turuncu Ekstra Ultra and above get free monthly İyi Gelir Premium packages.
• GNZ - Ak Portföy (Z Generation Fund)minorStrategic or Co-development PartnerCo-developed investment fund specifically designed for Gen Z customers (born 1996-2012). Managed by professional fund managers with diversified investment strategy targeting sectors relevant to Z generation.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Papara: Papara is a leading Turkish fintech/e-money company offering digital wallets, prepaid cards, and increasingly banking-adjacent products. It competes with ING Turkey for digital-native customers, particularly younger segments, on payments and savings.

Broad incumbents

• Akbank: Akbank is one of Turkey's leading private banks and a strategic ATM partner of ING Turkey. It directly competes for retail deposits and consumer loans while also providing physical infrastructure that benefits ING's customer base.
• Garanti BBVA: One of Turkey's largest private banks, Garanti BBVA competes with ING Turkey on digital banking innovation, deposits, and consumer credit, while also serving the same retail and corporate customers through a much larger branch footprint.
• QNB Finansbank / QNB eFinans: QNB Finansbank is a major Turkish commercial bank with a digital platform targeting similar retail and SME customers as ING Turkey. It is broader in scope (full branch network) but increasingly competing on digital experience.
• DenizBank (Emirates NBD): DenizBank is a major Turkish commercial bank (Emirates NBD group) and parent of N Kolay. It competes with ING Turkey across retail and SME banking, with a broader branch network but similar digital ambitions.
• Yapı Kredi: Yapı Kredi is a top-three Turkish private bank offering retail deposits, loans, cards, insurance, and investment products. It competes with ING Turkey across the full retail banking suite, including digital channels.

Direct peers

• CEPTETEB (TEB / BNP Paribas): CEPTETEB is the digital banking arm of TEB (a BNP Paribas subsidiary), offering fee-free, mobile-first retail banking in Turkey. It competes head-to-head with ING Turkey on pricing, deposit welcome rates, and branchless onboarding.
• N Kolay (DenizBank / Emirates NBD): N Kolay is the digital-only retail brand of DenizBank (Emirates NBD group), providing a fee-free, mobile-first banking experience similar to ING Turkey's value proposition in the Turkish market.
• Fibabanka: Fibabanka is a mid-sized Turkish digital-focused bank offering mobile-led retail banking, competitive deposit rates, and consumer lending — directly comparable to ING Turkey's positioning and product mix.
• Enpara (Türkiye İş Bankası): Enpara is the dedicated digital-first, fee-free banking brand of Turkey's largest bank, İş Bankası. It directly competes with ING Turkey on mobile-led retail acquisition, no-fee basic services, and competitive deposit rates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/ingturkiye
• Facebookfacebook.com/INGTR
• LinkedInlinkedin.com/company/ing-turkiye

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ING Turkey