We are committed to conducting our business with the highest level of integrity, in compliance with applicable laws, regulations and standards.
We identify our clients and verify that the information we hold about them is correct and in line with both the law and market regulations.
This process, known as "Know Your Customer” (KYC), helps us to protect our system and fight financial crime.
We constantly evaluate our relationships with our customers and other banks. This enables us, if necessary, to terminate relationships that do not meet our control standards or are not in line with our risk analysis.
What does it mean for you?
Before you become an ING customer, we will make sure that we have your authentication data, both personal and professional. This is to ensure that your profile is accurate.
It may sound strange or stressful, but don't worry! It's a normal step in our process. It allows us to get to know you better and establish a healthy and transparent relationship.
Once this information has been collected, it’s sent to our specialized team, entirely dedicated to identifying and verifying clients.
After analysis
There are three possible outcomes:
- Everything is in order and your customer journey continues quite normally.
- We have to come back to you because we need some clarification on a particular point. But don't panic, sometimes it's just a detail or a missing administrative element.
- The file is blocked and we cannot proceed with the process.
Here are some examples: your Passport details (via Itsme or document upload), legal address, profession, main country of tax, UBO extract, …
We’re required under various legal and regulatory requirements to know our customers. This means that we need to collect and check information about our customers. This may involve asking our customers to provide information about themselves periodically during the course of their customer relationship which is generally referred to as Know Your Customer or KYC.
ING may be prevented from providing you with banking services on an ongoing basis, and may be required to restrict or close your accounts. Where this occurs, we will communicate the process relevant to you.
We apply an internal framework of policies and minimum standards across all our business to keep your data safe. These policies and standards are periodically updated to keep them up to date with regulations and market developments. More specifically and in accordance with the law, we take appropriate technical and organizational measures (policies and procedures, IT security etc.) to ensure the confidentiality and integrity of your personal data and the way it’s processed.
In addition, ING employees are subject to confidentiality and may not
disclose your personal data unlawfully or unnecessarily.
We are only allowed to keep your personal data for as long as it’s still necessary for the purpose we initially required it. After this we look for feasible solutions, like archiving it. When assessing how long to keep personal data, retention requirements might be stipulated by other applicable laws (e.g. anti-money laundering law). Kept personal data can serve as legal evidence in litigation, but we will not use such personal data actively.
Retention periods may depend on circumstances (your data may be archived for up to 10 years after your bank account has been closed or even up to 30 years for your mortgage loan data. Other data, collected by surveillance cameras or call recordings are kept for shorter periods as required by law.)
You can consult here all information concerning the Privacy Statement.
https://www.ing.be/en/retail/daily-banking/current-accounts/privacy
