NatWest Group has announced a landmark five-year partnership with Amazon Web Services, Inc. an Amazon.com, Inc. company and Accenture to accelerate the transformation of its digital, data, analytics, and artificial intelligence (AI) capabilities. This initiative is designed to revolutionize how the bank serves its 20 million customers, enabling faster, smarter, and more personalized experiences across every touchpoint.
Leveraging the combined cloud and AI expertise of AWS and Accenture, the collaboration aims to strengthen NatWest’s ability to predict and respond to customer needs with greater agility. By embedding advanced data and analytics into customer interactions, NatWest is set to offer more tailored, proactive services while streamlining internal operations for increased efficiency.
As part of the initiative, NatWest will also invest in upskilling its workforce and nurturing a data-first culture, enabling employees to harness cutting-edge AI technologies to better serve customers and make data-driven decisions.
The partnership will support NatWest’s strategic priorities in the following key areas:
Disciplined Growth:
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Equipping relationship managers with next-gen tools and insights by consolidating customer data for a 360-degree view of each relationship.
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Enhancing every customer interaction through integrated data analytics, delivering timely recommendations, personalized support, and relevant product offerings.
Bank-wide Simplification:
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Unifying data streams into a centralized, AI-powered platform to simplify internal operations.
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Streamlining onboarding through digital identity verification and reducing paperwork to create a more seamless banking experience.
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Automating back-end processes to reduce costs and free up staff for higher-value customer engagement.
Enhanced Risk and Balance Sheet Management:
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Utilizing high-quality data to strengthen fraud detection, security, and complaints handling.
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Improving the speed and accuracy of financial, risk, and regulatory reporting for more agile capital management.
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Paul Thwaite, CEO of NatWest Group, said: “This collaboration with Accenture and AWS is key to helping us progress the transformation of NatWest as we become a simpler, more technology and data-driven bank. Our industry – and the expectations of our customers – are changing rapidly and we are building our capabilities in order to understand and serve their needs better and faster than ever before. Equipped with high quality data, we can continue to quietly revolutionise how we serve our customers through the use of AI and other technologies in order to provide more personalised products and services as a trusted partner in the moments that matter most.”
Julie Sweet, Chair and CEO of Accenture, said: “NatWest has a bold vision to use the power of its data to seamlessly tie together its products, channels and customer touchpoints a major step forward in making banking easier for its customers and providing them with more personalised experiences. We are excited to partner with NatWest and AWS and bring our deep industry experience and data and AI expertise to this reinvention, which will increase efficiency, drive greater productivity and create value. Together, we will help NatWest raise the bar for how banks can use data and AI to better serve customers and reach new levels of performance.”
Matt Garman, CEO of AWS, said: “NatWest is working with AWS and Accenture to bring together banking data to better serve customers. Using AWS’s deep and extensive experience in financial services technology, NatWest is setting new standards in banking as a more agile, customer-focused bank. Their AI-enabled platform will deliver the agility, security, and reliability needed to deepen customer relationships and drive growth. This exemplifies how forward-thinking financial institutions work with AWS to solve real problems and innovate at scale.”