NatWest to trial voice-based spending insights tool powered by in-house AI model
NatWest to trial voice-based spending insights tool powered by in-house AI model #
NatWest Group has announced plans to trial what it describes as an industry-first fully generative audio-visual Spending Insights tool, which the bank says makes it the first to test a real-time voice-to-voice conversational AI experience for personal finance management.
The tool was developed by NatWest’s Chief AI Research Office and runs on the bank’s proprietary Small Language Model (SLM). It will be trialled first under the Royal Bank of Scotland brand before a wider group-wide rollout. Customers will be able to discuss their finances by voice or text, with the system handling follow-up questions, mid-sentence interruptions, and sudden topic changes while retaining context across spending categories, budget progress, and broader financial habits.
The tool converts raw transaction data into personalised, interactive insights and charts rather than static summaries, and surfaces potential savings opportunities. NatWest says its decision to use an in-house SLM rather than a third-party large language model reflects its aim to build AI solutions tailored to its customers.
NatWest has also launched a Fraud Triage Agent inside Cora, its existing digital assistant. The agent lets customers who suspect an unauthorised credit card transaction describe the incident in plain language and be routed automatically to the appropriate fraud, scam, or dispute team, removing the need to self-categorise at what the bank describes as a stressful moment. Since going live, the agent has handled nearly 19,000 customer conversations. NatWest noted that about 80% of fraud-related activity originates through online and telecoms channels, making an in-app interface a natural point of intervention.
The announcements come alongside findings from NatWest’s AI Adoption Report, which surveyed retail customers on their use of AI tools. Fifty-seven percent of respondents said they are using AI significantly more than six months ago, with 40% accessing AI tools daily or near-daily. About one in five customers reported using AI for financial information and advice. The most frequently cited uses were finding deals and products (42%), getting savings tips (38%), understanding financial terminology (38%), and checking for scams or fraud (36%).
Dr Maja Pantic, NatWest’s Chief AI Research Officer, said the most exciting AI developments remain ahead, describing the trials as a step toward genuinely intuitive banking. The launches build on NatWest’s earlier deployment of agentic AI within Cora and its strategic partnership with OpenAI, and point toward the bank’s goal of voice-native, conversational financial management.
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