The ING Mortgage Discount Tool is an online calculator application for performing mortgage interest calculations. The tool has run production from 2007 to 2014 when ING introduced a new mortgage pricing model and the tool was replaced by its successor the ING Price Tool.
The tool has been heavily used, with every single mortgage calculation performed for an ING mortgage in the Netherlands passing through the application. Audience included ING employees, ING advisors, and mostly intermediate advisors that resell ING mortgage products. The Mortgage Discount Tool was conceived to replace an array of Excel sheets formerly used to distribute mortgage rates and special discounts (including wildcards). From an early version build around a rule engine containing the complex mortgage discount rule set applied by ING, the tool was extended to support tradeoff of commission against benefit for the customer, for transparency means, to process and monitor saved mortgage calculations, for wildcard distribution and management, and basically to cover any aspect of the ING mortgage pricing model that already existed or was conceived during the lifetime of the tool.
ING received high praise from its partners for the revolutionary mortgage sales process improvement, and from legislative authorities like the Dutch authority for the financial markets for the transparency in pricing model and commission model the Mortgage Discount Tool provided. From its conception ING considered the Mortgage Discount Tool a major competitive advantage, that other mortgage suppliers took years to catch up.