NatWest Group – Digital Transformation Strategies
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NatWest Digital Transformation Strategies Report Overview
NatWest uses emerging technologies as a part of its digital transformation strategies. The annual ICT spending of NatWest was estimated at $2.3 billion in 2022. A major share of this spending is earmarked for acquiring software, ICT services, and hardware from vendors. NatWest Group Plc (NatWest) is a provider of personal and commercial banking, and other financial solutions through two major subsidiaries: 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.
Total ICT Spending 2022 | $2.3 billion |
ICT Spend by Function | Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management |
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 | ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others |
Technology Theme Focus | Artificial Intelligence, Big Data, Blockchain, Cloud, and Cybersecurity |
The NatWest Digital transformation strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, partnerships, investment, acquisitions, ICT spending among others.
Digital Transformation Strategies
NatWest is transforming its business model to meet customers’ digital expectations and deliver innovative products and services by leveraging emerging technologies. It is focusing on AI-based solutions such as its chatbot, Cora, 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, download a free report sample
NatWest Technology Theme Focus
NatWest is utilizing number of emerging technologies including artificial intelligence, big data, blockchain, cloud, and cybersecurity to enhance operational efficiency and product offerings.
NatWest Technology Theme Focus
To know about other technology themes under focus for the company, download a free report sample
NatWest Technology Initiatives
NatWest has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs over the past few years. For instance, NatWest joined forces with Yokoy to link NATWEST cards with Yokoy’s digital solution, which leverages artificial intelligence technologies to digitize and automate business spending and credit cards. This partnership enabled NatWest clients owning corporate credit cards to simplify their expenses management process by analyzing receipts and supplier invoices.
For more insights on other technology initiatives of NatWest, download a free report sample
NatWest ICT Spend by Function
- Communications
- Data center
- Network
- Application
- End-user computing
- Service desk
- Management
NatWest ICT Spend by Function, 2022 (%)
For more insights on ICT spending by function, download a free report sample
NatWest ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- Telcos
- ICT services providers/Consulting firms
- Specialist outsourcers
- Systems integrators
NatWest ICT Spend by Channel, 2022 (%)
For more insights on ICT spending by channel, download a free report sample
NatWest External ICT Spend by Segment
- ICT services
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- Network and communications
- Consulting
- Others
NatWest External ICT Spend by Segment, 2022 (%)
For more insights on external ICT spending by segment, download a free report sample
Scope
This report provides:
- Insight into NatWest ‘s technology activities.
- Insights of its digital transformation strategies and technology center & innovation program.
- Overview of technology initiatives covering product launches, partnerships, investments, and acquisitions.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets and major ICT contracts.
Reasons to Buy
- Gain insights into NatWest’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various product launches, partnerships, investments, and acquisitions.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of NatWest in 2022?
The annual ICT spending of NatWest was estimated at $2.3 billion in 2022.
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Which was the leading ICT spending category by function for NatWest?
Data center was the leading ICT spending category by function for NatWest in 2022.
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Which was the leading ICT spending category by channel for NatWest?
Internal development and maintenance was the leading ICT spending category by channel for NatWest in 2022.
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Which was the leading ICT spending category by segment for NatWest?
Software (including cloud SaaS was the leading ICT spending category by segment for NatWest in 2022.
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What are the key technology themes in focus for NatWest?
The key technological theme in focus for NatWest are artificial intelligence, big data, blockchain, cloud, and cybersecurity.
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