NatWest launches a new version of its chatbot, Cora+, developed with IBM, to improve customer interactions and automate services. With an increase in AI-driven queries, the bank aims to provide personalized responses and proactive financial suggestions.
NatWest Enhances Customer Service with Cora+ Chatbot
NatWest is piloting an upgraded version of its chatbot, Cora+, starting Monday. This new virtual assistant, developed with IBM, aims to deepen the bank’s use of generative artificial intelligence (AI). Cora+ processed 10.8 million queries in 2023, a significant increase from approximately five million in 2019.
The top inquiries handled by Cora include cancelling transactions, changing addresses, requesting bank statements, applying for new bank cards, and opening ISAs. As high street banks modernize digital services, NatWest has seen a reduction in branch visits, leading to the closure of nearly 50 branches this year and over 100 in 2023.
In May, NatWest experienced a four-hour outage affecting online and mobile services. Despite this, the bank remains committed to integrating advanced AI systems to provide more personalized and human-like customer interactions. Cora+ can offer tailor-made responses and proactive financial management suggestions, supported by human agents when needed.
David Lindberg, CEO of NatWest’s retail bank, highlighted that Cora+ aims to transform customer interactions by better anticipating needs and making relevant suggestions. CEO Paul Thwaite also emphasized a broader push for automation, potentially reducing reliance on call centers.
