NatWest partners with OpenAI for simplification and customer experience

Through this collaboration, NatWest aims to optimise its ability to meet clients’ needs faster and more efficiently, and increase productivity across its bank. By leveraging Open AI’s insights and technology, the bank will upgrade how quickly and widely it deploys its developments in GenAI.

New AI services for NatWest

NatWest is committed to developing its digital assistant services, offering new ways in which customers can utilise AI to support them with complex tasks such as identification, reporting, and resolution of fraud and scams.

For colleagues, this means developing modern tools to assist with fraud and complaints handling. Additionally, this approach is overseen by the bank’s Artificial Intelligence & Data Ethics Code of Conduct to ensure customers and employees are safe and utilising AI in a responsible and ethical manner. Data ethics ensure security, privacy, and transparency in data collection and sharing, while AI ethics extends these principles to ensure AI algorithms that use the data are unbiased and fair.

NatWest’s works ensuring that its AI systems are subject to human oversight and promote human agency, consider social and environmental impacts, comply with privacy and data protection regulations, and their decisions can be easily communicated with clients.

The bank’s focus on simplification and efficiency aims to offer a better experience for its customers and employees. With customer needs evolving rapidly, NatWest focuses on meeting their expectations and demands in a safe environment, while being compliant with the laws and regulatory requirements of the industry.

AI is playing a key role in the bank’s digital transformation, helping its employees across its operations serve customers in a more productive and personalised way. By leveraging OpenAI’s technology, NatWest aims to drive AI growth even further while prioritising its customers, staff, and ethical responsibility. OpenAI aims to deliver tangible benefits to NatWest’s customer base by supporting the bank in its digital transformation and further developing its AI services.