NatWest Group (“NatWest”) has announced a new, five-year collaboration with Amazon Web Services and Accenture to transform the way it serves its customers by accelerating the modernisation of its digital, data and analytics, and AI capabilities.
The collaboration will enable NatWest to provide more intuitive, engaging and personalised services to its 20 million customers—drawing on the combination of Accenture and AWS’s advanced cloud, AI, and banking expertise to help anticipate and respond to customer needs faster and more effectively.
In parallel, it will further enhance colleagues’ skills and foster a data-driven culture through access to new AI technologies that empower them to more swiftly and easily serve customers.
As a result, the collaboration will help NatWest deliver against each of its strategic priorities:
Disciplined growth:
A holistic view of each customer’s relationship with the bank—introducing state-of-the-art data capabilities for relationship managers, equipping them with advanced tools that enable access to, and analysis of, deep insights for each customer.
Seamless engagement and real time communication for customers—integrating data and advanced analytics into every customer interaction in order to provide a personalised and proactive experience, with recommendations, products and support that meet and anticipate their needs.
Bank-wide simplification:
Accelerating the consolidation of various data streams into a single, bank-wide data platform, enabled by AI.
Providing a more efficient and cohesive banking experience, including faster onboarding through digital verification and streamlined documentation processes.
Improved operational performance and simplified operating models—greater automation of processes and controls, freeing up colleagues to spend more time with customers, whilst reducing costs.
Active balance sheet and risk management:
Better quality data to support robust security and protection measures—enabling more efficient complaints handling and improved fraud prevention.
More agile capital management as well as more efficient and faster financial, risk and regulatory reporting through improved data sourcing.
