The agreement is aimed at contributing to the bank’s mid-term growth plans and aligned to their strategic initiatives
UK-based retail and commercial bank National Westminster Bank (NatWest) has renewed its agreement with Artesian Solutions, to use the latter’s core relationship intelligence and customer insight platform technologies.
The agreement has been renewed after a five-months competitive tender process to evaluate advanced artificial intelligence solutions, aimed at contributing to the bank’s mid-term growth plans.
NatWest corporate and commercial coverage managing director Andy Gray said: “This new agreement with Artesian signals NatWest’s desire to use technology-enabled solutions to support our vision of being a customer-first organisation, offering consistent, high quality experiences.
“We exist to serve our customers and earn their trust by intuitively understanding their needs and working out clever solutions to their problems. Artesian is the engine that drives this vision, providing our Relationship Managers with the data and insight driven ability to create compelling experiences throughout the customer journey.”
NatWest will use Artesian’s ENGAGE platform and ARCH offerings
The three-year agreement builds on a longstanding relationship between the two companies, under which, NatWest will leverage the technology of Artesian’s ENGAGE platform.
The bank’s 2,500 relationship managers have been using the Artesian platform to obtain company information and utilise real-time insights to attract, engage and nurture corporate customers.
In addition to ENGAGE platform, the agreement will also provide a new framework for NatWest to evaluate the Artesian Risk and Compliance Hub (ARCH) across all divisional units.
Launched in 2019, ARCH’s addition to the bank’s frontline technology stack will allow relationship managers to carry out smart, bank compliant pre-screening on clients to quickly validate against the bank’s risk appetite.
Artesian CEO Andrew Yates said: “I could not be more delighted to announce the continuation of our relationship with NatWest. In the seven years that we have been partners, Artesian has undergone a dramatic evolution, with many industry firsts under our belt including Buzzwords, a new dedicated banking user interface, ever more advanced AI and analytics, people data and workflow functionality.
Most significantly we introduced ARCH, a sophisticated configurable decision engine that continuously monitors real-time business risk and KYC data sources, but uniquely applies each bank’s own policies to that data.”