NatWest Group has announced it has become the "first" UK bank to unveil the "next generation" of AI tools designed to help customers manage money and receive fraud support. The banking group, which has branches in Birmingham, is set to trial an industry-first, fully generative audio-visual AI Spending Insights tool, enabling customers to explore their spending through natural voice and text conversations.
Powered by the bank's proprietary Small Language Models, the trial tool will be able to respond naturally to customers' follow-up questions and interruptions. This marks a significant shift from traditional text-based banking interactions towards more intuitive, conversational experiences.
New Fraud Triage Agent within Cora
Alongside the Spending Insights tool, NatWest is introducing a new Fraud Triage Agent within its digital assistant Cora. This agent will help customers who are concerned about suspicious credit card transactions reach the right support more quickly, streamlining the process of reporting potential fraud.
The announcement comes as new research finds that 57% of NatWest customers say they are using AI much more than six months ago. The most common financial uses for AI among these customers include finding deals and products (42%), receiving savings tips (38%), explaining financial terminology (38%), and checking for scams and fraud (36%).
Leadership Perspectives on the AI Trial
Dr Maja Pantic, Chief AI Research Officer at NatWest Group, highlighted the importance of thoughtful adoption: "The most exciting AI developments are still ahead of us. Success will not be determined by who adopts AI fastest, but by who adopts it most thoughtfully. Our role is to understand emerging technologies and carry out cutting-edge research that addresses real customer needs so we can earn the trust that allows innovation to scale."
She added: "We're moving beyond simple written question and answer interactions towards more natural, audio-visual conversations that allow customers to engage with complex information in a way that feels intuitive and interactive. That's a significant step forward in how people can interact with their bank in the future."
Customer Expectations and Future Impact
Solange Chamberlain, Retail CEO at NatWest Group, said: "Customers are already using AI as part of their everyday lives, and that is raising expectations of what great banking should feel like. They want experiences that are simpler, more personal and more responsive, while still knowing there's someone to turn to when it matters."
Chamberlain continued: "Through these new tools, we're strengthening customer relationships by combining the strength of AI with the expertise and judgement of our colleagues to help customers make sense of their money, access support more quickly and navigate important financial decisions with greater confidence."
The trial represents a concrete step in NatWest's AI strategy, focusing on practical applications that address customer needs while maintaining human oversight. The bank aims to scale these innovations responsibly, ensuring that trust remains central to the deployment of new technologies in retail banking.
