Re-imagine customer experience at NatWest with AI and Automation

One of the important objectives for any bank is to improve client experience and enhance overall operational efficiency. It is easy for any organization to overspend on offering a great client experience if operational efficiencies are not continuously improved. Relationship Managers typically see a significant number of requests being made with repetitive queries and answering these queries can take up a lot of time. Freeing up Relationship Managers time by improving operational efficiencies can lead to more opportunities for improving client experience and satisfaction. When a client call is received, they must juggle between a number of applications & knowledge sources to get the right information. This leads to inefficiencies, high call handling time, low problem resolution rates and overall dissatisfaction for the client. To top this all, when a Relationship Manager leaves the organization, it leads to a huge risk of knowledge/information loss.

The need is to deploy tools that will significantly ease the pressure of the relationship team and make them ‘super-efficient individuals’ to handle client’ queries. It should enhance the teams’ productivity and reduce the learning curve to handle the ever changing IT landscapes and processes of banks.

Create intelligent document processes at NatWest with AI

68% of Financial Institutions are struggling to derive insights from their documents

It’s no surprise that banks generate massive amounts of data – 90% of data is unstructured and locked in documents. Maintaining customer information is of the utmost importance. Capturing, extracting, classifying, and verifying information in unstructured documents like invoice, documents involved in letter of credit (to facilitate payment between an importer and exporter) processing, etc. is time-consuming and daunting.

Banks and financial institutions are deploying Intelligent Document Processing solutions that leverage OCR and Machine Learning capabilities to make sense of the voluminous data across varied document formats, enhancing productivity, speed, and precision. From the management of contracts to processing customer information, utilizing AI technologies helps banks gain a competitive advantage.

Expedite Loan Processing at Natwest with AI

Loan origination directly impacts the revenue for financial entities like Natwest who are in the lending business. In the loan origination cycle, lead & channel management to lead fulfilment are the key functions. The common challenges faced by different personas (Loan Officer, Loan Processor and Sales Leader) in these functions are:Â

• Prioritizing right channel to accelerate loan origination

• Prioritizing the right customer to focus on, using customers’ preferred communication channels

• Offering the right products to customers in the very first call and staying engaged with them to avoid fallouts

• Prioritizing and fast-tracking application processing for good customers by auto assignment to the rightly skilled team

• Foreseeing falling engagement with the customer

• Holding the talent and keeping them motivated and engagedÂ

The need is to have a data driven, over the top, easily accessible and intelligent system, which embeds in the lending pipeline automation to ensure process efficiency, speed and accuracy along with end-to-end model governance. It should help to acquire good leads, predict the quality of the customer, boost marketing ROI, convert and retain high quality accounts.

Increase HR Efficiency and Reduce Costs at Natwest with Automation

As part of HR processes, banking organizations collect new employee details on joining like education, identification, family details and banking information etc. They manually scan and email the details to a centralized repository and a dedicated FTE manually routes emails to HR teams based on different criteria and keys in relevant employee details in the HR system to create employee record. Once that is done, access/authentication needs to be created for the new employee in multiple disparate systems based on the profile. Similarly, when an employee is leaving an organization, whole processes need to be undertaken where a dedicated team manually checks for accuracy of data entered in resignation forms, update reporting change, update relevant checklists and trackers etc. During performance appraisals, managers need to gather information from multiple systems manually along with updating the data in these systems.

​The need is to automate manual HR processes like onboarding, leave delegation, staff movements, resignation process and performance appraisals to enhance employee experience through improving employee journeys (joining, moving, leaving), increasing use of self-service and improving learning capability & content with the aim of delivering significant cost reduction in HR operations/services through automation.