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New Delhi: The pandemic brought the urgent need for enterprises across the spectrum to adopt new and emerging technologies<\/a>. The global banking sector has been at the forefront in investing in the latest technologies like AI\/ML, advanced analytics<\/a> and Metaverse<\/a>.
NatWest<\/a>, a major retail and commercial bank in the UK, has made strong progress over the last 4-5 years embracing technologies like private and public Cloud<\/a>, RPA tools, AI\/ML, Blockchain<\/a> and Metaverse.
According to Amit Sakhuja, Head of Risk Analytics, Technology, Natwest group, will further unlock value for its customers, while ensuring that these new ways of doing things have consumer protection in mind.
Speaking of the Metaverse, he emphasized that it will create a virtual space where customers can transact, access banking information, and avail various banking products from the comfort of their homes.
Excerpts from the interview:
Q: The pandemic compressed the technology transformation journeys of many enterprises. What were the key strategic pillars on which you built your technology strategy over the last two years at NatWest?
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A: NatWest Group's technology strategy is guided by seven key strategic pillars, which form our technology principles. These are:
Customer focus: We prioritize what is most important to our customers and deliver at pace.
Simplicity: We keep things simple, removing unnecessary complexity, duplication, and cost.
Sustainability: We build evergreen solutions that are modern, componentized, and flexible, powered by Cloud technologies, data, analytics, and Agile and DevOps culture.
Security and resilience: We ensure our solutions are secure and resilient by design.
Data centricity: We ensure the highest level of data stewardship through meticulous data mastery and life cycle control.
Capability: We nurture and develop talent, enabling our people to do a great job now and in the future.
Collective responsibility: Our actions and behaviours, all align to our \"One Bank\" collective responsibility.
Q: How are you leveraging data and advanced analytics to serve your customer needs while maintaining full regulatory compliance?
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A: NatWest Group has made significant investments over the last few years to become a data-driven Bank, powered by advanced analytics, to serve our customers' needs:
Best-in-class credit decisioning engine: We have built a world-class credit risk decisioning engine using Cloud technologies and a variety of data, which has not only helped us cater to the borrowing needs of our retail and commercial customers faster but has also allowed us to comply with the regulatory obligations in a timely manner. For example, the Basel regulation to calculate capital that needs to be set aside to withstand future credit losses.
Conversational intelligence is a key focus area to deliver outstanding services to our customers. NatWest has developed sophisticated language models which are trained on data from multiple channels, i.e., video, voice, text chat, emails, social media etc. and generate deeper actionable insights. These help us understand customer queries better and assess the performance of various channels to pre-empt issues, improve digital self-service, and enhance chatbot capability to convert them into true digital assistants.
Personal Finance Manager (PFM): This is a feature available to our mobile banking customers to help them make the most use of their money by providing automated categorization of their spend, so that they have an opportunity to set aside a budget and receive useful insights to foresee challenges and help them reduce their spend. Customers are provided with a holistic view of their finances, so they feel empowered and in control of their banking relationship with NatWest.
Personalized offers: NatWest has invested in creating a near real-time decisioning engine to offer personalized recommendations to its customers. It predicts the \"next best action\" of the customer based on his or her historical transactions and other behavioural data.
Q: What are some of the emerging technologies which you are most excited about in terms of disrupting the banking industry?
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A: While NatWest has made outstanding progress in the last 4-5 years in the adoption of technologies like private and public Cloud, RPA tools such as UIPath, APIs<\/a> and microservices, we are excited about leveraging Artificial Intelligence (AI)\/Machine Learning (ML), Blockchain, and Metaverse technologies to further unlock value for our customers and NatWest as well as ensure these new ways of doing things have consumer protection in mind.
AI\/ML: We are moving our AI and ML models from \"innovation<\/a>\" centres to everyday projects and utilizing MLOps & AIOps to operationalize the machine learning models. We are using hybrid AI Cloud technologies to revolutionize how the Bank handles and generates insights from loads of data that we produce and manage every day.
Blockchain: We are excited about the use of Blockchain technology as it has the potential to revolutionize the way people do business across the world. It can significantly expedite payments with cheaper processing fees, decrease payment settlement times with greater transparency and tracking, streamline trade financing and lending process, and reduce counterparty risk.
Metaverse: Despite Metaverse's origins in gaming and social media, its application has extended beyond entertainment to traditional sectors like banking and financial services. Several practical applications of Metaverse technology including Virtual Reality (VR) and Augmented Reality (AR) have facilitated the buying and selling of goods in an entirely virtual environment.
These virtual environments enable companies to obtain greater exposure without geographical constraints, changing the way in which customers shop and make payments altogether. This has led to a redesign of customers' purchasing decisions and interactions, creating the next evolution of consumer spending patterns<\/a>.
Metaverse will create a virtual space where customers can transact, access banking information, and avail various banking products from the comfort of their homes.
Q: With the technology landscape evolving so rapidly, what should a successful CIO\/CTO focus on, to stay ahead of the curve?
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Technology is changing at an exponential rate with new software and systems emerging constantly. The fast pace of technological advancements requires businesses to work at pace and stay-up-to date with these changes and remain competitive. There are several ways in which these businesses can be better prepared for changes and stay ahead of the curve:
Embrace growth mindset
From Cloud to Artificial Intelligence to Metaverse, the tech space is ever evolving and is doing so at breakneck speed. So, you need to be receptive and adaptive to change, however uncomfortable that may be. Investing in your learning and exhibiting resilience will help you. Thrive despite challenges, and not get overwhelmed by it.
Being in the know
Stay close to developments in the latest technologies, such as Blockchain, Metaverse, Artificial Intelligence, Machine Learning, and Cloud to name a few. This will enable you to envision the use of these technologies to advance with your business priorities.
Address skill gaps in your team
You should be very honest about diagnosing the strengths and development areas of your team and focus on both organic (upskilling the team) and inorganic ways (acquiring talent from outside) to address the skill gaps.
Respond rapidly to change
Technology leaders should act with a sense of urgency and be quick to experiment with the adoption of the latest technologies through prototyping, while being open to failing fast. They should collaborate with product companies, the fintech ecosystem, and academia to learn, partner, and improvise on the latest technologies.
Solve challenges of today and tomorrow
You should focus on creating technology solutions that are customer-centric, scalable, reusable, and performant for the challenges of today and tomorrow. For example, Cloud solutions to cater to the ever-increasing compute and storage demands, build reusable configuration-based frameworks to avoid build from scratch, convert monolithic architecture to microservices, and to improve agility and time-to-market.
Q: What did cloud technology enable you to do that you couldn't do before?
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A: By investing heavily in Internal Cloud (e.g. PCF) and Public Cloud (e.g. AWS) technologies, we can react to the evolving needs of our customers faster and better, while driving down costs for the bank. For example, we have built our next generation credit decisioning engine on Cloud, which is now being used by 3,500 relationship managers dealing with 1 million businesses and supporting 1,000 lending related enquiries per hour.
More specifically, the use of Cloud technology has enabled us to reap significant benefits in multiple areas:
Elastic scalability - With increased banking regulation like Basel, IFRS9, European Banking Authority (EBA), there has been a drastic surge in the number of Credit Risk models, which needed huge compute and storage. We have been able to leverage AWS managed services, like EMR, EC2, S3 etc. to address this need.
Rapid innovation: We are able to innovate faster with access to the latest innovative Machine Learning and Artificial Intelligence products on Cloud. This has helped us to better manage Credit Risk for the bank.
Pace of change: We have been able to reduce time-to-market drastically by leveraging a host of native and third party services provided by AWS. For example, Amazon Sagemaker to expedite the model development and deployment pipeline, Amazon EMR to run technology batches faster, Tableau for self-service visualisation capabilities etc.
Reduce operational risk: We have been able to standardize and automate technology implementation leveraging infrastructure as a code on Cloud, thereby, helping reduce operational risk.
Employee engagement: Cloud technologies are exciting to work on, helping us attract the right talent from outside NatWest and drive employee engagement.
Q: India is your second largest employee base outside the UK. How are you attracting and retaining top talent given high attrition rates? Could you also tell us how NatWest is helping its workforce develop the necessary future technical skills needed which have become so crucial.
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A: At NatWest, we create a great place to work for employees by offering them a fulfilling job, healthy workplace, fair rewards, and excellent development opportunities through effective and great leadership. We focus on providing them a job that is equally challenging and rewarding, thus, ensuring they have the right tools to succeed and feel a sense of direction and purpose.A
We focus on all aspects of wellbeing (mental, physical, financial) for our employees and invest in their learning to help them build their skills for today and in the future. In addition, we equip our managers to provide their teams with the right guidance, support, and leadership they need to thrive.
NatWest has invested heavily in helping its workforce develop skills. We have collaborated with a variety of learning partners to outline learning journeys appropriate for various roles, like Data Engineer, Data Analyst, Data Scientist, DevOps Engineer etc. and then provisioned best-in-class learning content on technologies like Cloud (both public and private), APIs and Microservices, RPA, Data & Analytics, Agile, and DevOps.
Based on the business and personal development needs, employees are encouraged to consume this learning content under the guidance of subject matter experts within the bank. We have also done a very successful experiment recently on reskilling our non-tech employees and intend to scale it out.
Lastly, we focus on educating our employees on the latest developments taking place in the financial services industry by bringing in external speakers who can provide a perspective on how they are leading and managing disruptions within their respective organizations.
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Metaverse创建下一个进化的消费者支出模式:NatWest
大流行带来了跨领域的迫切需要企业采取新的和新兴技术。全球银行业一直在投资于最新的前沿技术像AI /毫升,先进的分析和Metaverse。
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新德里:大流行带来了跨领域的迫切需要企业采用新的新兴技术。全球银行业一直在投资于最新的前沿技术像AI /毫升,先进的分析和Metaverse。
NatWest主要零售和商业银行在英国,过去4 - 5年已经取得长足进步拥抱像私人和公共技术云,区域规划工具,AI /毫升,区块链和Metaverse。
负责人根据Amit Sakhuja风险分析技术,Natwest集团将进一步释放价值为其客户,同时确保这些新的做事方法的消费者保护。
Metaverse讲话,他强调,这将创建一个虚拟空间,客户可以办理,银行信息的访问,并利用各种银行产品从舒适的家园。
采访的摘录:
问:大流行的压缩技术转换旅程的许多企业。是什么你建造的关键战略支柱技术战略在过去的两年里在NatWest吗?
NatWest集团的技术战略是指导下七个关键战略支柱,形成我们的技术原则。这些都是:
客户焦点:我们优先考虑什么是最重要的为我们的客户和交付速度。
简单:我们让事情变得简单,删除不必要的复杂性,复制,和成本。
现代可持续发展:我们构建常绿解决方案,组件化,灵活,采用云计算技术、数据、分析、敏捷和DevOps文化。
安全性和弹性:我们确保我们的解决方案是安全的,有弹性的设计。
数据中心:我们确保最高水平的数据管理通过细致的数据掌握和生命周期控制。
能力:我们培养和发展人才,使我们的人民能够做很多工作现在和将来。
集体责任:我们的行动和行为,使我们的“一个银行”的集体责任。
问:你是如何利用数据和先进的分析来满足客户的需求,同时保持完整的法规遵从性?
答:NatWest集团已取得了重大的投资在过去的几年里成为一个数据驱动的银行,由先进的分析方法,为客户的服务需求:
一流的信贷决策引擎:我们已经建立了一个世界级的信贷风险决策引擎使用云技术和各种各样的数据,它不仅帮助我们满足我们零售和商业客户的借款需求更快但也让我们遵守监管义务及时。例如,巴塞尔监管来计算资本需要留出抵御未来的信贷损失。
会话的情报是一个重点领域为客户提供出色的服务。NatWest开发了复杂的语言模型训练来自多个渠道的数据,即。、视频、语音、文字聊天、电子邮件、社交媒体等,产生更深的可行的见解。这些帮助我们更好地理解客户的查询和评估性能的各种渠道抢占问题,提高电子自助服务,提高chatbot能力将他们转化为真正的数字助理。
个人财务经理(PFM):这是一个功能提供给我们的手机银行客户,帮助他们最大限度地利用他们的钱通过提供的自动分类,这样他们有机会留出预算和接收有用的见解预见的挑战,帮助他们减少他们的消费。客户提供其财务状况的整体视图,所以他们觉得授权和控制自己的银行NatWest关系。
个性化提供:NatWest已投资于创造一个接近实时的决策引擎向其客户提供个性化的推荐。它预测客户的“下一个最佳动作”基于他或她的历史交易和其他行为数据。
问:什么是你最兴奋的新兴技术扰乱银行业?
答:虽然NatWest取得了突出的进步在过去的4 - 5年的采用技术如私人和公共云,战UIPath等工具,apimicroservices,我们兴奋利用人工智能(AI) /机器学习(ML),区块链和Metaverse技术进一步释放价值为我们的客户和NatWest以及确保这些新的做事方法的消费者保护。
AI / ML:我们正在AI和ML模式从“创新“中心日常项目和利用MLOps & AIOps实施机器学习模型。我们使用的是混合人工智能云技术革新银行如何处理从大量的数据和生成的见解,每天我们生产和管理。
区块链:我们是兴奋区块链技术的使用,因为它有可能改变全世界人们做生意的方式。它可以显著加快支付便宜处理费用,减少支付结算时间和更大的透明度和跟踪,简化贸易融资和贷款过程,减少交易对手风险。
Metaverse:尽管Metaverse的起源在游戏和社交媒体,其应用已经超越娱乐传统的银行和金融服务等行业。几个Metaverse技术的实际应用包括虚拟现实(VR)和增强现实(AR)促进商品在一个完全虚拟的买卖环境。
这些虚拟环境使公司获得更大的接触没有地理限制,改变客户购物和支付的方式。这导致了重新设计客户的购买决定和交互,创建下一个进化的消费者支出模式。
Metaverse将创建一个虚拟空间,顾客可以交易,银行信息的访问,并利用各种银行产品从舒适的家园。
问:技术与景观的发展如此迅速,成功的CIO / CTO应该关注什么,保持领先?
技术正在改变以指数的速度与新软件和系统不断出现。技术进步的快节奏要求企业在速度和保持工作日期与这些变化和保持竞争力。有几种方式,这些企业可以更好地准备更改并保持领先地位的曲线:
拥抱成长心态
Metaverse从云到人工智能,空间技术发展,以惊人的速度是这样做。所以,你需要接受和适应变化,但是可能会不舒服。投资于你的学习和表现出韧性会帮助你。面对挑战,而不是被它淹没。
在知道
保持接近最新技术的发展,如区块链、Metaverse,人工智能,机器学习,云等等。这将使您能够想象的使用这些技术来提高你的业务优先级。
解决技能差距在您的团队
你应该很诚实对诊断领域的优势和发展你的团队,专注于有机(upskilling团队)和无机方法(获得人才以外)解决技能缺口。
快速应对变化
技术领导人应该一种紧迫感,快速采取行动,通过原型试验采用最新的技术,而开放快速失败。他们应该与产品公司合作,fintech生态系统,和学术学习,伙伴,即兴创作的最新技术。
解决今天和明天的挑战
你应该专注于开发以客户为中心的技术解决方案,可伸缩的、可重用的,高性能的今天和明天的挑战。例如,云解决方案来满足不断增长的计算和存储需求,构建可重用的构造框架,以避免从头开始构建,把整体架构microservices,提高敏捷性和投放市场的时间。
问:云技术让你做了什么,你不能做吗?
答:通过大量投资于内部云(例如PCF)和公共云(例如AWS)技术,我们可以对客户更快更好的发展的需要,同时为银行降低成本。例如,我们已经建立了我们的下一代信贷决策引擎云,现在被3500年客户关系经理处理100万年企业和支持每小时1000贷款相关的询盘。
更具体地说,云技术的使用使我们能够在多个领域获得显著的好处:
弹性可伸缩性——像巴塞尔银行监管,增加IFRS9,欧洲银行业管理局(EBA),有激烈的信用风险模型的数量激增,这需要巨大的计算和存储。我们已经能够利用AWS管理服务,像EMR, EC2和S3等方法解决这一需求。
快速创新:我们能够更快的访问到最新的创新产品创新的机器学习和人工智能在云上。这也帮助我们更好地管理信用风险的银行。
变化的速度:我们能够减少投放市场的时间大大利用主机的本地和第三方提供的服务AWS。例如,亚马逊Sagemaker加快模型开发和部署管道,亚马逊EMR技术批量运行更快,画面为自助服务可视化功能等。
降低运营风险:我们能够标准化和自动化技术实现利用基础设施云上作为一个代码,从而帮助降低运营风险。
员工敬业度:云技术是令人兴奋的工作,帮助我们从外部吸引合适的人才NatWest和驱动员工敬业度。
问:印度是你的第二个大员工基础在英国以外。你是如何吸引和留住顶尖人才高流失率?你还能告诉我们NatWest如何帮助员工未来发展必要的技术技能已经变得如此重要。
NatWest:,我们创建一个伟大工作场所为员工提供一份充实的工作,健康的工作场所,公平的奖励,并通过有效的和伟大的领导良好的发展机遇。我们专注于提供他们的工作同样具有挑战性和奖励,因此,确保他们有正确的工具成功,觉得方向感和purpose.A
我们关注健康的所有方面(心理、物理、金融)为我们的员工和投资于他们的学习,帮助他们建立他们的技能在今天和未来。此外,我们让我们的经理给他们的团队提供正确的指导,支持,和领导他们需要茁壮成长。
NatWest大量投资于帮助员工发展技能。我们有与各种合作学习伙伴大纲学习旅行适合各种角色,像数据工程师,数据分析,数据科学家,DevOps工程师等等,然后提供一流学习内容等技术云(公共和私人)、api和Microservices,狙击枪,数据和分析,敏捷,DevOps。
基于业务和个人发展的需要,鼓励员工消费这种学习内容的主题专家的指导下在银行。我们也做过一个非常成功的实验最近规模reskilling非技术员工和打算。
最后,我们关注的是教育我们的员工的最新发展发生在金融服务行业通过引进外部人可以提供一个视角如何在各自的组织领导和管理混乱。
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