NatWest launches new digital customer platform; fully integrates Rooster Money

NatWest is embarking on a plan to integrate all of its legacy front-office systems — across its contact centre, branch networks, video banking and more — into a single, digital platform. The bank is working with Accenture and Microsoft to build this new customer engagement platform.

Meanwhile, the bank has rebranded its youth banking product NatWest Rooster Money after its acquisition of the under-18s-focused financial product last October. Bank customers will be able to download and use the children’s prepaid debit card and pocket money app for free, for up to three children, for 12 months. 

As part of the new digital customer engagement platform, NatWest is launching a new appointment booking service, replacing multiple systems with a single, real-time booking platform accessible to colleagues and directly to customers.

The bank hopes this new service will reduce appointment booking times by up to 75% and significantly improve customer experience. It predicts this could free up almost 88,000 hours annually, which can be dedicated to supporting customers in difficult times. As many banks are working towards transitioning a more digital environment focused on customer convenience, NatWest hopes this engagement platform will free up bank staff to meet customers’ needs that require a human touch as the pandemic and the rising cost of living continue to have a material impact on people’s financial situations. The bank expects staff to be able to conduct more than 6500 additional meetings with customers. 

Wendy Redshaw, chief digital information officer, retail banking, NatWest, says this project is really focused on front office staff, freeing them to offer a more of a personalised service for customers who benefit from a ‘human touch’, such as those dealing with significant financial events. 

That human interaction is especially important, says Nina Raphael, managing director in Accenture’s UK financial service practice, “given the financial challenges that many in the UK are facing with energy price hikes, bigger bills and tax increases. The prominent role of banks in helping customers navigate these challenging conditions is growing and improving digital capabilities will significantly free up NatWest staff to focus on providing support in these times of financial difficulty for many.”

As for NatWest Rooster Money, the bank will continue to make the product available to customers of other banks, and has lowered the price to £1.99 per month. The pocket money app aims to support children as they learn about money milestones and feel confident about taking the reins of their own finances.

According to Simon Watson, head of youth banking, NatWest Group: “We know that parents have limited options in the market when it comes to products that help them easily manage pocket money and chores. NatWest Rooster Money now makes it easy and free for parents and carers who bank with us, and gives those who don’t a simple, cost-effective service that comes with the confidence of being backed by a bank.”