Dutch banking giant ING Group NV plans to deploy generative artificial intelligence in its Philippine operations.
The move follows successful implementations in the Netherlands and Germany, positioning the Philippines as the next frontier for the bank’s AI initiatives.
Finance Secretary Ralph Recto met with ING chairman Karl Guha and CEO Steven van Rijswijk on the sidelines of the World Economic Forum here, discussing avenues to deepen the partnership between the bank and the Philippines.
ING Hubs Philippines, established in 2013, employs 6,000 of the bank’s 14,000 global workforce. The hub provides a range of services, including lending, reconciliation, payments, and data management, supporting ING’s operations in nearly 40 countries.
Separately, Coinbase Global Inc., the U.S.-based cryptocurrency exchange, expressed interest in expanding its presence in the Philippines, recognizing the country’s burgeoning digital economy and growing adoption of blockchain technology.
The WEF saw a strong focus on AI investments, with Recto engaging with a diverse group of global leaders, including representatives from Skandinaviska Enskilda Banken, SICPA SA, Grab Holdings Inc., Lippo Group, AirAsia Group Bhd., AMTD International, Citigroup Inc., TikTok, Kalyani Strategic Systems Limited, McKinsey & Company, HCLSoftware, Glencore Plc., BHP Group Ltd., and Bitkub Capital Group Holdings.
