Summary
NatWest Group has moved its artificial intelligence (AI) projects from the testing phase into full-scale use across the entire company. The bank is now using these tools to help with customer service, manage documents for wealthy clients, and write computer code. By using AI in daily tasks, the bank aims to make work faster for employees and provide better support for people who use their banking services. This change marks a major shift in how one of the UK's largest banks handles its daily operations.
Main Impact
The biggest impact of this rollout is the massive amount of time being saved by bank staff. In the retail banking branch, AI tools that summarize phone calls and help write responses to complaints have saved over 70,000 hours of work. This allows employees to focus on solving complex problems rather than doing repetitive paperwork. Additionally, in the wealth management division, advisors now have 30% more time to meet with clients face-to-face because AI handles the task of summarizing long documents and meeting notes.
Key Details
What Happened
NatWest has updated its digital assistant, named Cora, to handle many more types of customer requests. Previously, Cora could only help with four specific types of tasks, but that number has now grown to 21. The bank is also starting a pilot program for 25,000 customers to use a new "agentic" assistant. This version of Cora uses advanced technology from OpenAI to let customers ask questions about their spending and transactions using normal, everyday language through the bank's mobile app.
Beyond customer service, the bank has given AI tools to all 60,000 of its employees. This includes Microsoft Copilot and a private AI system built specifically for the bank. To make sure staff know how to use these tools safely, more than half of the employees have taken extra training classes. The bank is also using AI to write software. Currently, about one-third of all the computer code used by the bank is drafted or tested by AI tools, which helps their 12,000 engineers work much faster.
Important Numbers and Facts
The scale of this project is shown through several key figures from the past year:
- 70,000 hours of staff time saved in the retail division through automated call summaries.
- 30% increase in direct client time for wealth management advisors.
- 60,000 employees now have access to AI chat tools.
- 12,000 software engineers are using AI to help write and test code.
- 1,000 new graduate software engineers were hired in the UK and India to support these tech goals.
- 10 times increase in productivity within the financial crime units during early AI trials.
Background and Context
For a long time, large banks have struggled with old computer systems that make it hard to use new technology. To fix this, NatWest moved much of its data and work to the Amazon Web Services (AWS) cloud. This move simplified their systems and created a "unified view" of their customers. This means the bank can see all of a customer's information in one place, making it easier for AI tools to provide accurate answers and summaries. This foundation was necessary before the bank could launch AI at such a large scale in 2025 and 2026.
Public or Industry Reaction
The banking industry is watching NatWest closely to see how these tools perform in the real world. Because banking is a highly regulated business, NatWest has set up an AI Research Office to keep a close eye on the technology. They have also created a "Code of Conduct" for AI and data ethics to ensure the technology is used fairly. The bank is also working with the Financial Conduct Authority (FCA), which is the UK's money watchdog, to test these AI systems in a safe and controlled way.
What This Means Going Forward
The next step for NatWest involves making AI even more natural to use. They plan to add "voice-to-voice" features to their digital assistant. This will allow customers to speak to the AI, and the system will be able to understand the tone of the person's voice and have a more natural conversation. This will be especially useful for reporting fraud or managing sensitive money issues. The bank also plans to use "agentic engineering" more widely, which means using AI that can not only suggest ideas but also carry out specific technical tasks on its own.
Final Take
NatWest is no longer just experimenting with AI; the technology is now a core part of how the bank functions. By focusing on saving time for employees and making digital tools easier for customers to use, the bank is trying to stay ahead in a very competitive market. While the time savings are impressive, the real test will be whether customers feel that these automated systems provide the same level of trust and care as a human banker.
Frequently Asked Questions
What is Cora at NatWest?
Cora is NatWest's digital assistant that helps customers with their banking needs. It has recently been updated with AI to understand natural language and help with more complex tasks like analyzing spending patterns.
How is AI helping NatWest employees?
AI helps employees by summarizing long meetings, drafting responses to customer complaints, and writing computer code. This saves thousands of hours of manual work, allowing staff to spend more time helping customers directly.
Is the AI at NatWest safe to use?
The bank has created a strict Ethics Code of Conduct and an AI Research Office to monitor the technology. They are also working with government regulators to ensure the systems are safe and fair for all customers.