ING Direct, Financial Synergy Launch Retirement Savings App
The branchless bank is combining retail banking, retirement and insurance services in its online banking site.
Insurance Networking News, September 6, 2012
Financial Synergy announced Tuesday that the branchless bank ING Direct in Australia, which is wholly owned by ING Group, Amsterdam, will offer the Australian wealth manager's Living Super retirement planning application to its customers.
ING customers will now be able to see their retirement account alongside their existing bank account balances, Financial Synergy said. Users will also be able to move cash into their Living Super accounts, change their investment options and purchase insurance.
Living Super is named after the process of saving for retirement in Australia, superannuation.
"The level of integration for features such as insurance, term deposits and share trading in this product provides true straight-through processing for most transactions," Stephen Mackley, Financial Synergy's chief executive, said in a press release. "This will contain costs, yet still deliver the flexibility and control that ING Direct customers are seeking."
This story originally appeared at American Banker.
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