
NatWest Group has announced a strategic partnership with OpenAI, making it the first UK-based bank to collaborate with the AI leader. This initiative aligns with NatWest’s commitment to streamlining banking operations and harnessing AI to enhance efficiency, productivity, and customer service.
Accelerating AI Adoption Across Banking Operations
The partnership will enable NatWest to leverage OpenAI’s latest generative AI (GenAI) advancements, providing direct access to cutting-edge technology while maintaining strict data privacy measures. By integrating AI across various banking functions, the collaboration aims to accelerate digital transformation at scale.
Enhancing Digital Customer Assistance
Building on AI-driven tools such as Cora+ and AskArchie+, NatWest will focus on expanding digital assistant capabilities. Customers will be able to use AI for more complex tasks, including fraud detection, reporting, and resolution. Additionally, AI-driven financial guidance will help customers better understand their financial standing, set goals, and plan for the future.
Empowering Employees with AI-Driven Tools
Beyond customer-facing applications, the collaboration will enhance AI-powered support for employees. AI will be used to improve fraud prevention mechanisms and streamline customer complaint resolution across NatWest’s Retail, Commercial, and Wealth divisions.
Leadership Insights on AI-Driven Transformation
Scott Marcar, Chief Information Officer of NatWest Group, emphasized the impact of AI on customer experience:
“By integrating AI, we are making banking easier and more efficient for both customers and colleagues. As customer expectations grow, our role is to provide faster, more effective solutions while ensuring trust and security. Our partnership with OpenAI enables us to accelerate digital transformation and deliver personalized services at scale. As we embrace technological advancements, we remain dedicated to responsible innovation, prioritizing safety every step of the way.”
Angela Byrne, CEO of Retail Banking at NatWest Group, highlighted the increasing shift towards digital banking:
“With 80% of our retail customers banking digitally, delivering an exceptional digital experience is imperative. GenAI is already reshaping how we interact with customers, enhancing both digital engagement and employee support. Through our collaboration with OpenAI, we aim to redefine digital banking and strengthen protections against fraud and financial threats.”
OpenAI’s Perspective on the Partnership
Giancarlo Lionetti, OpenAI’s Chief Commercial Officer, acknowledged NatWest’s leadership in digital banking transformation:
“Our collaboration with NatWest reflects its dedication to pioneering industry-leading AI applications. The first phase of our partnership will provide immediate value to both customers and employees, while paving the way for future advancements in AI-powered banking.”
NatWest’s Expanding AI Initiatives
With over 275 AI projects in progress and approximately 25 use cases in active deployment, NatWest has already seen significant improvements in operational efficiency and customer service. The AI-enhanced Cora+ digital assistant has resulted in a 150% increase in customer satisfaction while reducing human intervention.
Commitment to Responsible AI Use
As AI adoption continues to expand, NatWest remains dedicated to ethical and responsible AI implementation. All AI-driven initiatives will adhere to the bank’s Artificial Intelligence & Data Ethics Code of Conduct, ensuring technology is used to educate, protect, and empower customers and employees.