NatWest Group plc. is a majority state-owned British banking and insurance holding company, based in Edinburgh, Scotland. The group operates a wide variety of banking brands offering personal and business banking, private banking, insurance and corporate finance. In the United Kingdom, its main subsidiary companies are National Westminster Bank, Royal Bank of Scotland, Ulster Bank, NatWest Markets and Coutts.
By partnering with swiftscale, NatWest augments their startup scouting capabilities and extends their reach into the global scaleup community to drive their digital transformation agenda. Each session conducted is comprised of identifying a key technology topic, interviewing stakeholders and creating a report of globally scouted, relevant companies. These companies are vetted and prepared by swiftscale, to highlight the top organisations most pertinent to the brief given.
NatWest Group were looking to improve and augment their data analytics ability. Solving for both immediate and future capability gaps, swiftscale was instructed to source Data & Analytics scaleups, with relevant applications across customer understanding, journey & experience, cyber security & fraud, risk management, NLP for voice-to-text, advanced data analytics, as well as explainability and fairness of Machine Learning models.
swiftscale conducted structured meetings and interviews with key stakeholders across the Data & Analytics teams at NatWest to ascertain key scouting criteria, areas of focus and opportunities for scaleup technology. During this process, swiftscale extracted key themes and qualifying criteria to scout globally for aligned organisations that fit both swiftscale’s criteria threshold, combined with NatWest’s must-haves to highlight the most relevant companies in the market.
swiftscale initially produced a longlist of 82 companies aligned with the brief. This was reviewed by NatWest’s key Data & Analytics stakeholders to assess match, of which 40 scaleups were approved as new and interesting organisations. swiftscale then vetted these 40 companies to create a final selection of 10 top picks. These 10 were presented to over 40 decision makers at NatWest, and 9 of these were progressed to further discussions. Within 3 months, 2 companies had progressed to pilot.