BEST INNOVATIVE BANKING FEATURE

GOLD WINNER ING Building up your savings can be as easy as making the bed

What if $1 automatically moved from your transaction account into an online savings account every time you made your bed? And what if $10 automatically goes towards a new pair of runners for every 10,000 steps you take?

It’s this incidental saving feature that won ING gold in Money’s banking innovation awards. Thanks to a partnership between the bank and tech company IFTTT (If This Then That), ING customers can now set automatic savings triggers that are linked to how they go about their everyday lives.

It’s unique in that customers have never before been able to set saving triggers that are linked to their behaviour. IFTTT gets around 600 apps and devices to work together to create new experiences – in this case a new way to save. With the customer’s permission, their first name, account number and account nickname are shared with IFTTT.

It’s a clever concept that could just be the nudge you need to help you get saving.

The feature is free for ING customers with an Orange Everyday transaction account and Savings Maximiser account.

The winner was judged based on its submission. Invitations to submit entries were given to all institutions on the Canstar database. Only products that were launched in the past 12 months were eligible. Entries for submissions closed on October 12, 2018. They were judged on innovation, scope and, where applicable, price.