NatWest partners with Amazon and Accenture to better leverage its data

A bank once again illustrates the importance of the data and the need to adapt its strategies to make better use of it. This time it is the British Natwest which opts for strategic partnerships with technology giants, Amazon and Accenture. Artificial Intelligence technologies are obviously at the heart of this new promise to optimize the customer relationship.

FACTS

• Natwest has signed a new 5-year collaboration with Accenture and Amazon Web Services (AWS), global leader in cloud services for the Amazon Group.

• This collaboration aims to transform the way NatWest supports its 20 million customers by accelerating the modernization of its digital, data, analytics and AI capabilities.

• Thanks to this new partnership, the bank underlines that its clients will now benefit from new data processing and analysis capabilities. These technological solutions will in particular allow access to in-depth information about each customer and thus to customize the relationship.

• This optimized data processing will be made possible by consolidating the different data flows within a single platform, accessible to all, and managed by artificial intelligence.

ISSUES

• Accelerating the transformation of the sector Natwest is using its two new technology partners today to develop its own banking services and processes with their expertise, particularly in AI.

• Optimize customer relationship : Optimizing data processing must first and foremost enable the bank to provide more intuitive and personalized services to its customers. NatWest points out that his decision to sign this partnership stems directly from his ambition to improve large-scale customer relationship management.

• Continue bank deployment : The signing of such a partnership with a traditional bank player is not a novelty for AWS. Earlier this year, in February, Amazon Web Services announced the wider opening of its partnership with the Australian CommBank. Their goal was to deploy cloud and artificial intelligence technologies more widely in banking services.

• Valorize its expertise : For Accenture, the signing of this tripartite partnership represents a new way to highlight its expertise on the subject of artificial intelligence while the company deployed an AI learning program for managers in December 2024.

PERSPECTIVE

• Natwest's involvement in optimising data processing is not an absolute novelty for the sector but an example of the ambition shared by all actors on this subject.

• Just before Natwest, five other international (and more particularly European) banks have just joined a new interbank association. The latter relies on the combination of forces and expertise to optimize the analysis of large-scale payment data. This new Global Financial Transactions Research Network (or Financial Transactions Global Research Network - FTGRN), is led by ABN AMRO, BBVA, BNP Paribas Fortis, CaixaBank and Danske Bank.

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