What you need to know:

• ING is pitching its $30m media account as part of a wider global review.
• Mediabrands, using Initiative, Dentsu and GroupM are the final three groups vying for the account.

Final three

Dutch-owned bank ING is pitching its $30m media account in Australia as part of a wider global review.

There were rumours of a pitch earlier this year, however, industry sources told Mi3 the account was now in play, with local chemistry sessions taking place this month.

ING is also understood to have narrowed the agency list down to Mediabrands, GroupM and Dentsu. Incumbent agency, UM, is said to be pitching local, with stablemate Initiative on the global shortlist.

Sources close to the pitch said each key region for the brand would also be able to elect their agency of choice from the winning holding group, to ensure it was best suited to the brief.

ING has repeatedly declined to comment on "speculation", while UM also declined to comment.

In March, ING Australia launched a new brand identity and tagline – "Do Your Thing" – in a bid to tout its digital credentials.

The campaign was backed by a report "The Sense of Us" which outlined the changing consumer behaviours in the banking sector and explained the rationale behind the brand refresh.

It is understood an element of the pitch requires agencies to consider not just ING's brand position in market but how the financial sector is also adapting to changing consumer needs.

ING has been reassessing its retail banking strategy in recent months and is also seen as the frontrunner in the race to acquire Citi’s $2bn local consumer banking business.

It is also the largest foreign bank operating in Australia, with a market share of 12 per cent, according to IBIS World.