IBM - Existing Cora service remains available 24/7 to help answer day-to-day banking queries- Cora helped assist customers with 10.8 million queries last year in solving their banking needs
NatWest is announcing the launch of Cora+, an upgrade to its digital assistant, Cora, developed in collaboration with
Cora supports customers in answering banking queries 24/7 through natural language processing and machine learning capabilities. In 2023 the digital assistant helped customers with 10.8 million queries in their day-to-day banking needs, an increase from just over 5 million in 2019.
Cora+ will build on current capabilities into an intelligent virtual agent that uses generative AI to provide more intuitive, conversational customer experiences. This will initially be introduced as a 12 week pilot to address learnings and updates, to be fully rolled out at a later date.
Key features of Cora+
Multi-channel integration
Cora+ will be able to access information from multiple secure sources in one place, including a variety of products, services and information about the bank. Working with experts from
This will provide a range of benefits NatWest customers, including:
Enhanced conversational abilities through AI
With generative AI, customers can ask questions and receive responses in a more natural, human style and are provided with links to requested information, which they can either view immediately or bookmark for later.
Previously, when a customer asked Cora about a mortgage or lending product, a link would be provided to a general page which would require a customer to research and scroll through different options. Now, Cora+ will be able to understand the context and nuances of each query to provide more accurate and personalised responses for certain journeys.
Proactive assistance
Once Cora+ is fully rolled out, the digital assistant will be able to anticipate customer needs, without requiring the customer to think of what to ask, based on past interactions and transaction history. This allows Cora+ to offer proactive suggestions and insights to help customers manage finances more effectively.
In situations where intervention from a customer service agent is needed,
Broader knowledge base
Through machine learning Cora+ is trained on an extensive range of banking topics and customer queries, enabling her to assist with a wider variety of enquiries than before.
Data from NatWest shows five of the top queries for Cora are: cancelling a transaction, change of address, asking for a statement, requesting a new card and opening an ISA.
"As a bank we are committed to harnessing the latest technology to enhance customer experience, and the introduction of Cora+ is a major step forward in how customers interact with NatWest. By collaborating with
"AI has been a key tool for NatWest since we introduced Cora in 2017 and nearly 11 million queries were answered last year alone to help customers manage their money. Today, we're taking the next step by introducing Cora+ and becoming one of the first banks to use generative AI in this way to provide more personalised and responsive support. Cora+ is better able to anticipate their needs, make suggestions and respond in a more 'human' way to questions. Cora+, using generative AI, will transform the way our customers interact with us on their day-to-day banking needs."
"The launch of Cora+ is an exciting new milestone in
Cora+ can be accessed through various channels, including the NatWest website, mobile app, and social media platforms, making it convenient for customers to get help from different devices and locations.
Customers will continue to have the option to speak on the phone with customer representatives during business hours.
Notes to Editors
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