NatWest Group has unveiled a five-year partnership with Amazon Web Services (AWS) and Accenture aimed at overhauling its digital, data, analytics, and artificial intelligence (AI) infrastructure to enhance customer experience and operational efficiency.
The collaboration is intended to transform how NatWest serves its 20 million customers, enabling the bank to deliver more personalised and proactive services. The initiative will combine Accenture’s banking and AI expertise with AWS’s cloud and data capabilities to modernise NatWest’s technology estate.
“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,” said Paul Thwaite, CEO of NatWest.
“Our industry — and the expectations of our customers — are changing rapidly, and we are building our capabilities to understand and serve their needs better and faster than ever before.”
As part of the programme, NatWest will equip its relationship managers with advanced data tools that offer a unified view of each customer’s interactions with the bank. This is expected to support more meaningful and efficient engagement, with real-time recommendations and tailored product offerings.
The bank will also consolidate multiple data streams into a single AI-enabled platform, designed to streamline processes such as digital onboarding and documentation while reducing internal complexity and operational costs.
Additional benefits are anticipated in areas like fraud prevention and regulatory compliance. By improving the quality and accessibility of its data, NatWest aims to accelerate financial and risk reporting and enhance security.
Thwaite emphasised the importance of fostering a data-led culture by equipping the workforce with AI tools: “Equipped with high-quality data, we can continue to quietly revolutionise how we serve our customers through the use of AI and other technologies, providing more personalised products and services as a trusted partner in the moments that matter most.”
Julie Sweet, chair and CEO of Accenture, described the project as “a major step forward” in helping NatWest integrate its products and customer channels: “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, added: “NatWest is working with AWS and Accenture to bring together banking data to better serve customers. Their AI-enabled platform will deliver the agility, security, and reliability needed to deepen customer relationships and drive growth.”
NatWest is not alone in this transformation journey. Lloyds Banking Group, for example, has also invested heavily in cloud and AI technologies, announcing a multi-year strategic partnership with Google Cloud to modernise its core banking systems.
