NatWest Partners on Analytics With Microsoft, DreamQuark
NatWest has announced a collaboration with Microsoft, and Artificial Intelligence specialist DreamQuark, in developing Next Generation Complex Analytics. The work will allow the bank to simulate behaviours of different environments such as financial markets or transport networks, processing it into meaningful patterns and insights that help to accurately predict future outcomes.
— RBS (@RBS) October 3, 2019
Next Generation Complex Analytics will be used by NatWest to predict future risks and opportunities across its chosen markets and customer segments, using a combination of simulations run through the system, and machine learning.
The bank is working with Microsoft and DreamQuark to test the capability on numerous use cases within its personal and commercial businesses; as examples, the tool looks at the impact of a number of scenarios within the Buy-to-Let mortgages market, and the effects of price elasticity within the small business loans market.
In testing the capability, the bank wants to understand if the new modelling outperforms the methods that the bank currently uses to accurately predict future outcomes.
Kevin Hanley, Director of Innovation and Solutions, NatWest said: “We are genuinely excited by the opportunities afforded by this new partnership with Microsoft and DreamQuark. By allowing us to better predict future outcomes, risks and trends, the implementation of this technology could be of significant value to our customers and shareholders over the coming years. For the first time we’ll be able to deliver an aggregated, forward looking view of the world around us, ultimately helping us build a stronger, safer bank.”
Cindy Rose, CEO, Microsoft UK, said: “AI is the engine of the fourth industrial revolution. It has the potential to fundamentally transform how entire industries operate, delivering greater value to organisations, employees, customers and society as a whole. NatWest’s ambition to harness this technology to deliver more sophisticated insights, boost performance and reduce risk is an excellent example of the transformative powers that AI offers.”
François de Lescure, Chief Sales & Marketing Officer, DreamQuark, said: “We are thrilled to work on this innovation project with Natwest and Microsoft. DreamQuark’s mission is to facilitate the high-scale production of trusted AI solutions, on which banks and insurance companies can rely to solve concrete challenges and generate new revenues. Major organizations are already running our predictive models in production and these multiple use cases shall strengthen our expertise in delivering zero-code machine learning platform for business experts and citizen data scientists. We are excited by this promising new partnership, establishing a solid base for our further expansion in the UK market.”
With Eugene Kanevsky, James Redbourn, and Joanna Wong, CLSA
AI/ML on the buy-side trading desk is a long-term program with short- and mid-term deliverables.
Aiden uses the computational power of deep reinforcement learning to improve trading results and insights.
BondDroid’s AI-generated prices are integrated directly into LTX’s pre-trade analytical tools.
Fintech firm has partnered with Jim Toffey, founder of Tradeweb Markets, to create LTX.