ING also facilitates property management

The bank ING Belgium has announced the launch of new services for owners and professional real estate managers with its clients. These new services are offered by the bank on the margins of its financial services, thanks to a partnership signed with the sector specialist, Smovin.

FACTS

• Smovin is based on the SaaS (Software as a Service) model. The company offers a software service in the form of a digital platform specialized in rental and real estate management.

• It is on this new partner that ING Belgium is now relying on to enable its clients, real estate professionals, to manage their portfolio in a simplified and intuitive way.

• Several asset management services will now be offered to the bank's clients, namely:
  • the drafting and monitoring of their lease contracts,
  • verification of their payments,
  • indexing of rents,
  • managing their insurance contracts,
  • monitoring of notice periods,
  • monitoring the profitability of goods,
  • ...

ISSUES

• Complete its services Beyond banking and financial services, ING Belgium customers will now have free access to the basic services of the Smovin platform. ING Belgium thus stands as an open platform for a new value-added service, on the margins of its banking offer.

• Facilitating property management : ING Belgium states that the signing of its new partnership with Smovin is primarily motivated by its ambition to simplify the administrative tasks of property owners wishing to manage their property in a comprehensive and integrated manner.

PERSPECTIVE

• ING Belgium's positioning illustrates the increasing willingness of traditional banks to integrate high-value digital solutions in addition to their core financial services. And as ING Belgium's initiative today illustrates, this strategy is driven by partnerships signed with specialised actors.

• However, this is not the first time that Smovin has raised the interest of a bank. BNP Paribas Wealth Management had participating in development Smovin in the context of a BNP Paribas International Hackathon organised in 2017, without however giving rise to subsequent commercial integration.

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