NatWest Group – Enterprise Tech Ecosystem Series

Pages: 29 Published: April 01, 2022 Report Code: GDFS0567CA

The annual ICT spending of NatWest Group was estimated at $820 million in 2021. A major share of this spending is earmarked for software, hardware, and consulting. NatWest Group is a provider of personal and commercial banking, as well as other financial solutions through two major subsidiaries, namely The Royal Bank of Scotland and NatWest. Personal banking consists of accounts, cards, loans and mortgages, insurance, investment, and private banking solutions. Business banking includes cards and payments, business loans and finances, business support, and international finance. It also offers risk management, trading, and debt financing solutions through the NatWest Markets brand.

This NatWest Group enterprise tech ecosystem series report provides insight into NatWest Group’s fintech activities, including its digital transformation strategies, its innovation programs, its technology initiatives, and its estimated ICT budget.

Digital Transformation Strategies

NatWest is transforming its business model to meet customers’ digital expectations and deliver round-the-clock services by leveraging digital technologies. It is focusing on AI-based solutions to reduce costs and deliver personalized services to customers. It is further expanding its reach through online distribution channels and mobile technology to enable banking anytime, anywhere.

To gain more insights on digital transformation strategies and initiatives of NatWest Group, download a free report sample

NatWest Group Technology Theme Focus

NatWest Group is utilizing the power of key disruptive technologies including artificial intelligence, big data, and biometrics to enhance its operational and service capabilities.

NatWest Group Technology Theme Focus

NatWest Group Technology Theme Focus

To know about other technology themes under focus for the company, download a free report sample

NatWest Group Technology Initiatives

NatWest Group has been involved in several strategic technology partnerships and collaborations, technology developments and rollouts, acquisitions, and technology investments over the past few years.

For instance, NatWest Group expanded its chatbot capabilities with IRS trade execution. They upgraded their digital trading assistant “Scout” with automated trade execution for interest rate swaps (IRS) functionality. Initially, the chatbot was introduced in collaboration with Symphony and Adaptive Financial Consulting for efficient key workflows around streaming prices and minimizing dual entries.

For more insights on other technology initiatives of NatWest Group, download a free report sample

NatWest Group ICT Spend by Function

  • Data center
  • Communications
  • Network
  • Application
  • End-user computing
  • Management
  • Service desk

NatWest Group ICT Spend by Function

NatWest Group ICT Spend by Function

For more insights on ICT spending by function, download a free report sample

NatWest Group ICT Spend by Channel

  • Internal development and maintenance
  • Technology vendors (direct)
  • Local resellers
  • Telcos
  • ICT services providers/Consulting firms
  • Specialist outsourcers
  • Systems integrators

NatWest Group ICT Spend by Channel

NatWest Group ICT Spend by Channel

For more insights on ICT spending by channel, download a free report sample

NatWest Group External ICT Spend by Segment

  • Software (including Cloud SaaS)
  • Hardware (including Cloud Iaas)
  • Consulting
  • ICT services
  • Network and communications
  • Others

NatWest Group External ICT Spend by Segment

NatWest Group External ICT Spend by Segment

For more insights on external ICT spending by segment, download a free report sample

NatWest Group Tech Ecosystem Overview

Total ICT Spending 2021 $820 million
ICT Spend by Function Data center, Communications, Network, Application, End-user computing, Management, and Service desk
ICT Spend by Channel Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators
External ICT Spend by Segment Software (including Cloud SaaS), Hardware (including Cloud Iaas), Consulting, ICT services, Network and communications, and Others
Technology Theme Focus Artificial Intelligence, Big Data, and Biometrics

Reasons to Buy

  • Gain insight into NatWest Group’s fintech operations.
  • Discover its fintech strategies and innovation initiatives.
  • Learn about its product launches, partnerships, and investments.

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Table of Contents

Table of Contents

Overview

Digital Transformation Strategy

Accelerators, Incubators, and Other Innovation Programs

Technology Focus

Technology Initiatives

Investments

Acquisitions

Partnership, Investment, and Acquisition Network Map

ICT Budget

Key Executives

About GlobalData

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