Latest news with #AskArchie+
Finextra
3 days ago
- Business
- Finextra
NatWest appoints first chief AI research officer
NatWest has appointed Dr Maja Pantic as its first chief AI research officer. 0 Pantic currently serves as Professor of Affective & Behavioural Computing at Imperial College London, having previously been founding research director of Samsung AI Research Centre in Cambridge, and AI scientific research director at Meta London. At NatWest, Pantic will be tasked with developing AI use cases for multimodal AI in combatting depfake threats and Generative AI. This will entail the progressive roll out of AI for bank-wide simplification via the development of tools for improving productivity. Scott Marcar, CIO of NatWest Group, says: 'It's not the first time I've said that AI is helping us to be a simpler NatWest and to transform our customers' experiences as we become even more of a trusted partner in the moments that matter most. Maja's appointment is another important and exciting milestone; her unique skills and experience will help us adapt and meet customers' changing needs faster, and more effectively, whilst complementing our team's existing capabilities.' The appointment builds on recent momentum in NatWest's AI strategy, including its recent collaboration with OpenAI, the roll-out of the bank's internal GenAI platform to all staff, and success in how it operates and serves customers through virtual assistant tools like Cora+ and AskArchie+. The bank claims the GenAI functionality offered by Cora+ has shown a 150% improvement in customer satisfaction, while reducing the number of times a colleague needs to intervene, with similar benefits with Ask Archie+, where up to 75% of HR queries no longer need human intervention.
Yahoo
23-03-2025
- Business
- Yahoo
NatWest forges alliance with OpenAI
NatWest Group has entered a partnership with OpenAI to incorporate generative artificial intelligence (GenAI) to enhance its customer service and productivity. This marks the first partnership of a UK-based bank with OpenAI. Under the collaboration, NatWest gains access to the latest GenAI developments, with data privacy protocols in place. Through this alliance, the bank plans to accelerate its adaptation to future prospects, building on its existing AI services, such as the virtual assistants Cora+ and AskArchie+. NatWest particularly seeks to improve its digital assistant services to help customers with tasks like identifying, reporting and resolving fraud, managing financial concerns, and setting future financial goals. Besides, it looks to utilise AI to assist staff with tasks such as fraud prevention and customer complaint management. OpenAI chief commercial officer Giancarlo Lionetti said: 'This wide-scale collaboration with NatWest underscores its commitment to deliver industry-leading digital banking experiences. 'The first wave of activities will deliver tangible benefits to both NatWest's customers and employees, while our ongoing work together paves the way for future AI banking innovations.' NatWest is currently working on over 275 AI-related initiatives, with nearly 25 already in production, with GenAI functionality by Cora+ said to record 150% improvements in customer satisfaction. The bank has committed to ensuring that all AI projects adhere to its Artificial Intelligence & Data Ethics Code of Conduct, with an emphasis on responsible and ethical use of AI technologies. NatWest Group Retail Banking CEO Angela Byrne said: 'Around 80% of our retail customers bank with us entirely digitally, which is why continually innovating to deliver the best digital experience possible is a non-negotiable. 'GenAI is already transforming how we interact with our customers, both digitally and by better enabling colleagues. "Our work with OpenAI will take this even further through redefined digital experiences and helping to offer even better protection from threats like fraud and financial crime.' "NatWest forges alliance with OpenAI" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
