NatWest hires AWS and Accenture to consolidate customer data across the bank
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The project will revamp the storage of data on 20 million customers across the bank to help anticipate and respond to customer needs faster with more personalised services.
As a result, the bank's relationship managers will gain a deeper insight into customer financial wellness, equipping them with tools and analytics to provide recommendations, products and support that proactively meet their needs.
The avilability of better quality data is also expected to aid faster onboarding, improve customer complaints handling, support security and protection measures by reducing the time it takes to alert customers of fraud risks and to provide more efficient and faster financial, risk and regulatory reporting through improved data sourcing.
Paul Thwaite, CEO of NatWest Group, says: '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.'
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