How ING uses nudging to mitigate risk
In a column for Reuters, ING’s Mirea Raaijmakers and Nikki Isarin explain how ING has been exploring innovative ways to improve its Know Your Customer (KYC) processes by applying behavioural science in banking.
One of those ways is via the use of nudges, or subtle triggers that that can steer behaviour in the right direction and encourage desired behaviours.
The column states ING is the first known bank to apply behavioural insights in one of its major processes: KYC.
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