Depowise becomes the depositary platform for ING in Luxembourg, supporting oversight, safekeeping and cash flow monitoring across the bank’s full fund services scope. The deployment includes a new Fee Engine developed in partnership with ING.
ING has gone live on the Depowise platform across its depositary operations in Luxembourg. The deployment covers the full scope of ING ‘s depositary activity for both UCITS and Alternative Investment Funds, including oversight, safekeeping, cash flow monitoring, and the calculation and management of depositary fees.
The go-live marks the culmination of a multi-phase implementation programme in which ING ‘s depositary, fund services, technology and security teams worked alongside Depowise to consolidate ING ‘s depositary operations onto a single platform.
A platform shaped by the partnership
ING in Luxembourg evaluated its depositary technology requirements against the operational realities of running a depositary for both UCITS and AIFs at scale. The decision to deploy Depowise reflected the platform’s ability to be shaped to ING’s specific operating model, rather than the other way around.
ING’s depositary services, technology and security teams worked alongside Depowise through every phase of the programme. Designed to reflect ING’s operating model and control framework, the platform has been shaped to meet the specific needs of a leading depositary bank, combining institutional rigour with advanced product capabilities.
Fee Engine, built with ING
At the centre of this collaboration lies the Depowise Fee Engine, a fully configurable module built with ING.
The Fee Engine supports the full range of depositary fee logic, including one-off and periodic fees, fixed and calculated amounts, tranche-based rates, minimum fee and fee cap treatment, and automated mapping between fee types and underlying cash trades. Fully integrated with the Depowise workflow and control scheduler, it enables automated, transparent and auditable management of depositary fees, supporting complex pricing structures and ensuring seamless integration with ING’s core banking and billing systems.
Built to support best-in-class banking infrastructure
Depowise is built to support best-in-class banking infrastructure. The platform meets the security, integration and operational standards required by globally systemic financial institutions, and this deployment is integrated with ING’s core banking environment under controls covering information security, identity management, change governance, and operational resilience requirements consistent with DORA.
The implementation also positions ING Luxembourg ahead of the AIFMD II transposition deadline of 16 April 2026, with depositary oversight, delegation monitoring, and audit evidence consolidated within a single platform. By centralising data, workflows and controls, Depowise provides a strong and future-proof foundation for ING’s depositary activities.
About ING Luxembourg
ING has been active in Luxembourg since 1960 and is regulated by the Commission de Surveillance du Secteur Financier (CSSF). As part of ING Group, a global bank with a strong European base, it offers a broad range of financial services.
ING Wholesale Banking Luxembourg serves large corporates, financial institutions, investment funds and insurers with specialised solutions, including lending, hedging, payments, cash management and fund services. Luxembourg is the centre of expertise for fund investments within ING, and depositary and custodian services for UCITS and Alternative Investment Funds.
ING Private Banking Luxembourg provides tailored investment and wealth management solutions, supported by international structuring expertise.
ING is a committed player in the Luxembourg market, actively contributing to the local ecosystem through industry engagement, partnerships and flagship sponsorships such as the ING Night Marathon Luxembourg.
About Depowise
Depowise builds technology for depositaries. The Depowise platform brings Cash Flow Monitoring, Safekeeping, and Oversight into a single operating environment, helping institutions simplify depositary operations and reduce manual effort in complex, regulated fund environments.
By centralising data and automating core depositary processes, Depowise enables depositaries to operate with greater consistency, control, and efficiency while scaling operations without increasing operational risk or cost.
Founded in 2021, Depowise serves depositaries across Europe managing over €2 trillion in assets across 3,000+ funds.
