NatWest is enhancing its partnership with Amazon Web Services (AWS) to leverage cutting-edge generative AI technology from the cloud provider.
As part of this initiative, data scientists and engineers from NatWest Group will collaborate with specialized teams at the newly established $100 million AWS Generative AI Innovation Center to co-create AI products utilizing foundational models accessible through Amazon Bedrock.
Scott Marcar, CIO of NatWest Group, stated, “We are building upon our existing strategic partnership with AWS to develop AI-driven financial products alongside a trusted collaborator who understands our large-scale data operations aimed at protecting our customers.”
Through this collaboration, NatWest has already implemented AI models designed to detect potential scams by analyzing customer behavior and identifying unusual payment patterns promptly. Additionally, the bank has introduced personalized engagement tools, including NatWest’s Digital Financial Health Check.
Swami Sivasubramanian, Vice President of Databases, Analytics, and Machine Learning at AWS, remarked, “With Amazon SageMaker, NatWest Group is already crafting secure, personalized customer journeys through machine learning. The integration of new generative AI capabilities like Amazon Bedrock will further empower the bank to provide the tailored support that customers need to achieve their financial objectives.”