Developed in collaboration with IBM, Cora+ will initially be introduced as a 12 week pilot to address learnings and updates, to be fully rolled out at a later date.

The more intelligent chatbot will will be able to access information from multiple secure sources in one place, including a variety of products, services and information about the bank.

Customers will be able ask questions and receive responses in a more natural, human style and are provided with links to requested information, which they can either view immediately or bookmark for later.

Previously, when a customer asked Cora about a mortgage or lending product, a link would be provided to a general page which would require a customer to research and scroll through different options. Now, Cora+ will be able to understand the context and nuances of each query to provide more accurate and personalised responses.

Once Cora+ is fully rolled out, the bank says the digital assistant will be able to anticipate customer needs, without requiring the customer to think of what to ask, based on past interactions and transaction history.

Data from NatWest shows five of the top queries for Cora are: cancelling a transaction, change of address, asking for a statement, requesting a new card and opening an ISA.

David Lindberg, CEO of Retail Banking at NatWest, says: “AI has been a key tool for NatWest since we introduced Cora in 2017 and nearly 11 million queries were answered last year alone to help customers manage their money. Today, we’re taking the next step by introducing Cora+ and becoming one of the first banks to use generative AI in this way to provide more personalised and responsive support. Cora+ is better able to anticipate their needs, make suggestions and respond in a more ‘human’ way to questions. Cora+, using generative AI, will transform the way our customers interact with us on their day-to-day banking needs.”

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