NatWest has integrated three cloud providers into its tech stack since July. 

As the $890 billion bank based in Edinburgh, Scotland, looks to move its operations to the cloud, it spent $10.8 million on technology in the first half of 2023 while its operating expenses jumped 13.4% year over year to $204 million, according to its earning supplement.

NatWest has added the following companies and cloud capabilities, according to BuiltWith, a business intelligence tool that tracks technology adoption and use: 

• Cloudflare Radar: NatWest has been working with the San Francisco-based cloud computing technology provider since April 2020, but deepened its relationship in July 2023 by employing Cloudflare’s Radar technology, which helps analyze web traffic. Digital bank and lender Sofi and ATM provider NCR are among Cloudflare’s customers, according to its website. 
• Amazon Web Services (AWS): The bank started using AWS’ web hosting services in September. NatWest also announced last month that it would use AWS’ SageMaker to incorporate generative AI capabilities into its operations. Citizens Bank is also teaming with AWS to move all of its operations to the cloud by 2025. 
• Imperva Incapsula: The bank started the San Mateo, Calif.-based cloud computing platform in September. More than 550,000 sites use Incapsula’s services, including Santander Bank and Sams Club, according to BuiltWith. 

Investing in automation 

As NatWest invests in cloud platforms, it has also focused on automation efforts built in-house.  

The bank expects to invest $4.2 billion between 2023 and 2025 into its operations to future-proof the business as its “ongoing digital transformation helps to drive efficiencies, improve customer experience and deliver future growth,” Chief Financial Officer Katie Murray said during NatWest’s second-quarter earnings call in July. 

As part of the effort, NatWest last week launched a transaction categorization service using an open banking platform that allows businesses to provide their customers with insights into spending patterns, Kevin Dearing, head of API commercialization at NatWest Group, told Bank Automation News. 

The feature, Enriched Transactions, gives customers tips on managing their budgets, tracking their carbon footprint and more quickly checking loan or mortgage, according to the bank’s Oct. 5 release. 

The feature can break down transaction history into 300 categories and has a 98% accuracy rate when the technology is automatically categorizing transactions, Dearing said.