NATWEST
As well as this , NatWest has worked with Accenture teams on a new proposition creation to help children have a better experience around saving , providing education around things like ISAs .
“ Partnerships are not like outsourcing ; it doesn ’ t mean we let people go ,” Pillar emphasises . “ Our partners have really great expertise , and we can ’ t know everything . They are also that soundboard where they consult industry experience . It ’ s a really good way of challenging us as well .
“ Without them , we wouldn ’ t be able to operate at the scale we do or keep pace . Customer habits are changing , so being able to leverage our valuable partners – whether through some of the transformation we ’ re doing , the innovation side of things or to remediate some of the legacy that we have – helps us stay in control .”
The future of technology in financial services Across the industry , Pillar is seeing a seismic shift driven by the desire to have more rich data available . Having that data , or that of third parties , enables more comprehensive financial crime monitoring and enhances all of NatWest and the wider financial services sectors . Despite it taking time to roll out more widely , Pillar expects momentum in this space to grow and create new , innovative areas that are currently incomprehensible .
In addition , more instant payments are on the horizon , says Pillar . He explains : “ Some people might have an account
“ There ’ s always an expectation that a seamless payment will happen , and that ’ s what we work to ensure ”
JOHN PILLAR DISTINGUISHED ENGINEER AND HEAD OF PAYMENTS ENGINEERING & ENVIRONMENTS , NATWEST
where they save , or a current account where they pay their credit card off , but it ’ s not instant , right ? You ’ ve got to wait a day or even a couple of days and then that transaction happens .”
“ Unfortunately , or fortunately , as a society where things are a lot more instant , we want and necessarily demand some of that from the different services we get . And banking and payments is no exception to that .”
Whether it be the push for more instant payments services , improving customer experience or continuing to be the defence protecting customers from threats , the future remains uncertain . But if one thing ’ s for sure , NatWest will be there for its customers with innovative technology solutions every step of the way . fintechmagazine . com 207