NatWest invests in AI to support vulnerable customers

Digital Reinvention
29/01/2025News

NatWest is deepening its commitment to financial inclusion by investing in Serene, an AI-driven platform designed to detect early signs of financial distress. This move aligns with the bank’s strategy to leverage technology to enhance customer support and improve financial well-being.

AI-powered insights forearly intervention

Financial difficulties can be overwhelming, and identifying distress early is crucial. Serene uses real-time AI and behavioral science to analyze customer data, identifying potential risks before they escalate. By predicting financial vulnerability, the platform enables NatWest to provide timely, personalized support at scale.

David Grunwald, Director of Innovation and Partnerships at NatWest Group, highlighted the transformative potential of AI in banking: "As people adapt to an ever-changing world, we must be a trusted partner who can anticipate, understand, and respond to their needs. AI-driven platforms like Serene allow us to do this faster and more effectively."

Backing innovation in fintech

Serene, which participated in the NatWest Entrepreneur Accelerator in 2023, was identified as a promising fintech during the bank’s Fintech Showcase event. This minority investment, led by NatWest’s Innovation and Partnerships group, reflects the bank’s broader commitment to fostering fintech innovation that aligns with its strategic vision.

As the UK’s largest bank for startups, NatWest sees investing in early-stage companies as a way to drive innovation and financial inclusion. Savannah Price, Founder & CEO of Serene, emphasized the broader impact:
"Financial vulnerability is a universal challenge. With NatWest’s support, we’re expanding our platform to help businesses deliver tailored solutions at scale."

By integrating AI into financial services, NatWest is positioning itself at the forefront of customer-centric banking, ensuring that vulnerable customers receive the support they need when they need it most.

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