NatWest Group
UK-focused banking group operating multi-brand retail, commercial and private banking franchises including NatWest, RBS, Ulster Bank and Coutts, serving over 20 million customers with an AI-first technology platform and OpenAI strategic collaboration.
- Company typePublic
- Founded1727
- HeadquartersEdinburgh, United Kingdom
- Headcount5,001–10,000
- GTM typeB2B and B2C
- OfferingServices
What NatWest Group does
NatWest Group plc is a UK-focused banking and insurance holding company headquartered in Edinburgh and listed on the London Stock Exchange (NWG) and NYSE via ADRs, serving more than 20 million customers through three core segments — Retail Banking, Commercial & Institutional, and Private Banking & Wealth Management. Its retail franchise operates heritage brands including NatWest, Royal Bank of Scotland, Ulster Bank, Coutts, Lombard, Holt's, RBS International, FreeAgent, Drummonds and Isle of Man Bank, offering current accounts, mortgages, savings, lending, asset finance, wealth management, protection insurance and merchant payments (Tyl). The commercial and institutional segment, led by 1,000+ relationship managers and NatWest Markets Plc, provides payments, fixed income, FX, trade finance, infrastructure lending and capital markets services. Pricing is quote-based across retail and commercial products, with revenues generated from net interest income, recurring relationship fees, transaction-based merchant and card fees, and managed-services-style fees in wealth management (totalling £6,495m, £8,809m and £1,131m respectively in 2025 across the three segments).
Underlying the franchise is an AI-first technology platform: NatWest invested £1.2bn in technology, data and AI in 2025, runs 51% of applications on cloud, and operates a strategic collaboration with OpenAI (the first UK bank to do so) that powers the Cora AI digital assistant (12.9m conversations in 2025), agentic AI workflows, voice AI in development, and a first-of-kind ChatGPT app for home-buying. Engineering scale includes 20,000 Digital X colleagues across the UK, India (Bengaluru) and Switzerland, with 12,000+ coders using AI assistants that now generate 35% of code. The go-to-market model is hybrid — physical branch network, 11.4m mobile app users, an inside-sales Venture Banking unit, embedded partnerships (Rightmove, AA, Saga), and an Open Innovation fintech programme with annual 12-week AI cohorts — all anchored by regional boards and accelerator programmes aimed at scaling to 50,000 entrepreneur members in 2026.
NatWest Group firmographics
Firmographics- Name
- NatWest Group
- Legal name
- NatWest Group plc
- Website
- https://natwestgroup.com
- Company type
- Public
- Founded year
- 1727
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- UK-focused banking group operating multi-brand retail, commercial and private banking franchises including NatWest, RBS, Ulster Bank and Coutts, serving over 20 million customers with an AI-first technology platform and OpenAI strategic collaboration.
- Ownership category
- akta.pro rank
NatWest Group industry classification
Industry- Product category
- Retail Banking
- NAICS
- Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218)
- SIC
- National Commercial Banks (6021), Finance Services (6199)
- akta.pro primary industry
- Digital Banking & Neobank Platforms (BPAMAFAD)
- akta.pro secondary industry
- Customer Experience & Engagement (CRM, Support, Rewards, Loyalty) (FSAGAAAM)
Keywords
Where NatWest Group is headquartered
LocationHeadquarters
- HQ city
- Edinburgh
- HQ country
- United Kingdom
- HQ region
- Europe
Offices8 records
Markets served
NatWest Group business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Retail Banking net interest and fees: Total income of £6,495m in 2025 (up from £5,650m in 2024); generated from current accounts, savings, mortgages and personal unsecured lending across NatWest, RBS and Ulster Bank NI brands; customer deposits of £202.6bn and net loans of £216.1bn.
- Commercial & Institutional Banking: Total income of £8,809m in 2025 (up from £7,957m in 2024); product propositions across banking, payments, fixed income and FX for SMEs through to large institutions; customer deposits £196.4bn and lending £154.2bn.
- Private Banking & Wealth Management fees: Total income of £1,131m in 2025 (up from £969m); AUMA of £58.5bn (up from £48.9bn); fee-based wealth management with 21.7% return on equity; acquisition of Evelyn Partners will increase group fee income by ~20%.
- Capital markets and balance sheet risk optimisation: Significant Risk Transfer (SRT) issuance tied to £3.5bn of commercial real estate loans; SRTs improving CET1 capital ratio; active participation in $41bn SRT market.
- Merchant payments (Tyl by NatWest): Merchant payments business partnering with Endava to accelerate product development using Dava.Flow and Payments Gateway Accelerator; targets UK merchant payments sector.
- Asset finance (Lombard): UK's largest provider of asset finance via Lombard brand, wholesale-funded SME lending through Simply Asset Finance partnership and digital platforms.
- Protection insurance commissions: New life insurance, critical illness cover and over-50s life insurance products underwritten by Aviva and accessible through NatWest digital mortgage channels; including new digital protection insurance range.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Banking products are quote-based and not publicly listed |
Go-to-market motion5 records
Distribution channels8 records
Marketing channels8 records
NatWest Group product offering
Product offeringCore offering
NatWest Group is a UK-focused banking and insurance holding company that, through its heritage brands (NatWest, Royal Bank of Scotland, Ulster Bank, Coutts, Lombard, Holt's, RBS International, Drummonds, Isle of Man Bank, FreeAgent) and subsidiaries (NatWest Markets Plc, Tyl by NatWest, RoosterMoney, Cushon, and the agreed acquisition of Evelyn Partners), provides current accounts, mortgages, savings and personal lending to over 20 million retail customers; banking, payments, fixed income, FX, trade finance, venture debt and infrastructure lending to commercial and institutional clients; private banking and wealth management to high and ultra-high-net-worth individuals; merchant payments via Tyl; asset finance via Lombard; workplace pensions and savings via Cushon; and small-business accounting software via FreeAgent.
Product overview
NatWest Group operates as a multi-brand banking platform structured around three core business segments: Retail Banking, Commercial & Institutional, and Private Banking. Its portfolio spans retail banking brands (NatWest, Royal Bank of Scotland, Ulster Bank, Coutts, Lombard, Holt's Military Banking, RBS International, FreeAgent, Drummonds, Isle of Man Bank) alongside specialised financial services such as NatWest Markets Plc investment banking, Tyl by NatWest merchant payments, and acquired fintechs (RoosterMoney for children's money management, Cushon for workplace pensions). The platform integrates these banking services with innovation programmes including NatWest Venture Banking, NatWest Accelerator, and NatWest Boxed partnerships, supported by financial education initiatives (NatWest Thrive, Financial Foundations) and digital capabilities including the Cora AI assistant, AI coding tools, and AI-driven customer journeys across 21 GenAI-powered experiences.
Differentiator
Problem solved
Functional benefit
Brands
- Tyl by NatWest: NatWest Group's merchant-payments business serving UK business customers.
- NatWest Venture Banking
- NatWest Boxed
- NatWest Fintech Programme
Products and services
- NatWest retail banking NatWest is NatWest Group's primary retail banking brand serving personal, family, and business banking customers across England and Wales, offering current accounts, mortgages, personal loans, savings, and digital banking services through the NatWest mobile app and UK branch network.
- Royal Bank of Scotland retail banking Royal Bank of Scotland serves personal and business banking customers across Scotland, providing current accounts, mortgages, savings, business banking, and the recently launched IP lending product (first in Scotland, up to £10m).
- Ulster Bank Ulster Bank supports people, families, and businesses with personal, business and private banking services across Northern Ireland.
- Coutts private banking and wealth management Coutts is NatWest Group's private banking and wealth management brand serving UK-connected high and ultra-high-net-worth individuals with banking, lending, and wealth management services; combined with Evelyn Partners will create UK's leading private banking and wealth franchise with £127bn AUMA.
- Lombard asset finance Lombard is the UK's largest provider of asset finance, offering lending and specialist financial services to businesses through its own balance sheet and wholesale-funded SME lending via Simply Asset Finance partnership.
- Holt's Military Banking Holt's Military Banking provides banking services designed around military life for the British Armed Forces community, with a heritage stretching back to 1809.
- RBS International RBS International is one of the largest banks operating in both local and institutional banking sectors in the Channel Islands, Isle of Man and Gibraltar, serving personal, private, commercial and financial institution customers.
- FreeAgent accounting software FreeAgent offers easy-to-use accounting software for UK small businesses, landlords and their accountants and bookkeepers, provided as a wholly-owned NatWest subsidiary brand.
- NatWest Markets Plc investment banking NatWest Markets Plc is a wholly-owned subsidiary of NatWest Group offering debt financing, risk management and trading solutions to institutional clients with international hubs in Europe, US and Asia.
- Tyl by NatWest merchant payments Tyl by NatWest is NatWest Group's merchant-payments arm serving UK business customers with integrated payment acceptance solutions, modernised through Endava's Dava.Flow AI-native delivery model and Payments Gateway Accelerator.
- NatWest Venture Banking NatWest Venture Banking is a dedicated venture banking business launched in April 2026 to support the UK's most ambitious high-growth companies with specialist venture debt and tailored financial support, forming a cornerstone of NatWest's Growing Together strategy.
- RoosterMoney kids money management app RoosterMoney is a London-based children's pocket money and money management app acquired by NatWest in 2021, serving over 130,000 UK users with features including reward charts, chore reminders, and real-time notifications to support financial education.
- Cushon workplace pensions and savings Cushon is a workplace pensions and savings fintech serving over 500,000 customers with £1.8bn AUM, acquired by NatWest in June 2023 to expand NatWest's workplace pensions and savings offerings including ISAs and pension schemes.
- Drummonds private banking Drummonds is a NatWest Group private banking heritage brand tracing its origins to a London goldsmith business founded in about 1712, serving private banking clients.
- Isle of Man Bank Isle of Man Bank was the first company to be formed under the Isle of Man's Companies Act of 1865 and remains an important part of life on the Isle of Man, providing retail banking services.
Quantifiable outcome
- Customer lending growth of 6.6% to £400bn in Q1 2026
- +7 more outcomes
Companies that use NatWest Group
Customer profileNamed customers10 records
Segments6 records
Ideal customer profiles6 records
NatWest Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability13 records
Feature7 records
NatWest Group partnerships and signals
Strategic signalPartnerships
18 partnerships are on record, tiered core, minor and flagship.
- FINOS (Fintech Open Source Foundation)coreFounding member of FINOS AI Fund alongside DTCC, Morgan Stanley, and Royal Bank of Canada. Develops governance standards and implementation frameworks for AI adoption in regulated financial services. Outputs developed as open source under FINOS governance.
- Responsible AI Institute (TrustX for Finance)coreCo-founding member (with U.S. Bank) of TrustX Finance Working Group on autonomous AI assurance in financial services. Provides controlled sandbox proving ground for testing AI systems that initiate payments and execute transactions.
- Prince William's Homewards programmeminorNatWest Group joins over 25 organizations including Bloomberg, Vodafone, Three, Accenture in developing the UK's first Homelessness Data Lab through Homewards programme. Partnership with LandAid and Salesforce aimed at identifying people at risk of homelessness early.
- Cosine AIcorePartnered with Cosine and coalition of UK financial institutions (HSBC, Lloyds Banking Group, LSEG, BAE Systems) to co-design Lumen Sovereign — Britain's proposed first sovereign frontier AI model. UK government selected Cosine as flagship partner in £500m Sovereign AI programme.
- Cleareye.aicoreStrategic partnership with Indian fintech firm Cleareye.ai to deploy the ClearTrade platform, automating document processing, compliance checks, and trade-based money laundering screening across NatWest's trade finance operations.
- Endava (Tyl by NatWest partnership)coreStrategic partnership to accelerate Tyl by NatWest's merchant payments offering using Endava's AI-native delivery model Dava.Flow and Payments Gateway Accelerator. Combines Endava's AI-native delivery with Tyl's market position to increase speed-to-market, flexibility, scalability and performance.
- RightmovecoreNew exclusive mortgage partnership launched with Rightmove to provide home-buying journey integration; aligns with NatWest's distribution strategy and AI-powered ChatGPT home-buying app.
- IIT Delhi Foundation for Innovation and Technology Transfer (FITT)coreFITT's first collaboration with a global bank. Joint innovation programs, pilot initiatives, and industry-led research in AI, fintech, and cybersecurity. Builds on NatWest's continued investment in India including Bengaluru office opening.
- CFIT (Centre for Finance, Innovation and Technology)coreCFIT secured £1m transitional funding from HM Treasury and strategic partnership with investment from NatWest Group. Will support CFIT's transition to self-sustaining funding model through March 2027, focusing on AI, smart data, and financial inclusion.
- Simply Asset FinancecoreSimply Asset Finance partnered with Lombard (part of NatWest Group) to expand lending to UK SMEs, utilizing Lombard's wholesale facility and Simply's digital lending platform with AI support to reach broader SME customer base.
- Foundervine and Bae HQcoreStrategic partnerships for NatWest Accelerator's Female Founders Community to address barriers faced by women-led ventures; expanding support nationwide to reach 50,000 network members by 2026.
- Evelyn PartnersflagshipEvelyn Partners, a UK wealth manager overseeing £69bn of assets under management and administration, being acquired for £2.7 billion; combines with NatWest's existing £59bn Private Banking and Wealth Management to create combined franchise with £127bn AUMA. Includes brands like BestInvest. Expected to increase NatWest fee income by ~20% and deliver £100m annual run-rate cost synergies.
- GooglecoreNatWest Group is partnering with Google to help entrepreneurs understand and implement AI tools and training for UK startups.
- OpenAIflagshipFirst UK bank to have a strategic collaboration with OpenAI. Powers agentic financial assistant for 25,000 customers in 2026; trials showed tenfold productivity gains in fraud detection and engineering.
- University of EdinburghminorRoyal Bank of Scotland and University of Edinburgh partnership to boost Scottish start-ups and student entrepreneurs. Part of NatWest's plan to create innovation hubs at 10 universities by 2027.
- Sainsbury's BankflagshipNatWest acquired most of Sainsbury's Bank business for approximately £125 million, increasing assets by £2.5 billion and customer base by about 1 million customers. Deal includes unsecured personal loans, credit card balances, and customer deposits; expected to close in March 2025.
- CushoncoreNatWest Group acquired an 85% stake in pensions fintech Cushon for £144 million. Cushon manages around £1.8bn in assets and has over 500,000 customers, providing workplace pension and savings products, including ISAs and pension schemes. The remaining 15% retained by Cushon management.
- RoosterMoneyminorNatWest acquired RoosterMoney, a London-based FinTech providing a money management app for families and young people with over 130,000 UK users. Supports financial education and capability strategy with features such as reward charts, chore reminders, and real-time notifications.
Scale indicators15 records
Recent moves11 records
Expansion highlights6 records
NatWest Group competitors and assessment
Company assessmentDirect peers
- Barclays: Major UK-listed universal bank with overlapping retail, commercial, and investment banking franchises. Both compete head-to-head in UK retail banking, mid-market commercial lending, and UK wealth management; Barclays also operates a US consumer bank, unlike NatWest.
- HSBC Holdings: Global universal bank with significant UK retail and commercial banking operations through HSBC UK. Both compete in UK mid-market, commercial banking, and wealth management; HSBC's geographic diversification contrasts with NatWest's UK focus.
- Lloyds Banking Group: UK's largest domestic retail bank, with overlapping customer base across current accounts, mortgages, and SME lending. Lloyds is the closest direct competitor in UK retail and commercial banking, although it lacks NatWest's international private banking franchise.
- Santander UK: Subsidiary of Banco Santander, one of the largest UK banks by deposits and current accounts. Direct competitor in retail mortgages, SME lending, and corporate banking; both also participate in UK infrastructure and renewable energy project finance.
Emerging players
- Starling Bank: UK digital challenger bank serving retail and SME customers. Competes for primary banking relationships with NatWest, particularly among digital-native consumers and small businesses; a key threat to incumbent retail banking margins.
- Investec: UK and South Africa-based private banking and wealth management group. Competes with Coutts and NatWest's Private Banking division in UK high-net-worth advisory and discretionary wealth management.
- Metro Bank: UK challenger bank focused on retail and SME customers. Overlaps with NatWest in UK current accounts, savings, and business banking; NatWest acquired £2.5bn of Metro Bank's prime residential mortgages in 2024.
Broad incumbents
- Deutsche Bank: Global universal bank headquartered in Frankfurt. Overlaps with NatWest Markets in investment banking, FX, and fixed income; competes for large corporate and institutional clients in the UK and Europe.
- Standard Chartered: UK-headquartered universal bank with a focus on Asia, Africa, and Middle East markets. Less direct overlap in retail banking, but competes with NatWest Markets in trade finance, FX, and emerging-market transaction banking.
Regional players
- Virgin Money UK: UK-focused retail and business bank (formerly CYBG). Direct competitor in UK mortgages, current accounts, and SME lending, particularly in the North of England and Scotland where both have strong regional brands.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
NatWest Group social profiles
Digital presenceNatWest Group compliance and trust
Trust signalCompliance6 records
NatWest Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
NatWest Group leadership team
Management profileNumber of profiles
Profiles25 records
NatWest Group subsidiaries and ownership
Company hierarchySubsidiaries9 records
NatWest Group funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NatWest Group M&A and investment
M&A and investmentM&A11 records
Investments79 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NatWest Group
What does NatWest Group do?
NatWest Group is a UK-focused banking and insurance holding company that, through its heritage brands (NatWest, Royal Bank of Scotland, Ulster Bank, Coutts, Lombard, Holt's, RBS International, Drummonds, Isle of Man Bank, FreeAgent) and subsidiaries (NatWest Markets Plc, Tyl by NatWest, RoosterMoney, Cushon, and the agreed acquisition of Evelyn Partners), provides current accounts, mortgages, savings and personal lending to over 20 million retail customers; banking, payments, fixed income, FX, trade finance, venture debt and infrastructure lending to commercial and institutional clients; private banking and wealth management to high and ultra-high-net-worth individuals; merchant payments via Tyl; asset finance via Lombard; workplace pensions and savings via Cushon; and small-business accounting software via FreeAgent.
Is NatWest Group a public or private company?
NatWest Group is a public company. It is classified as public and is currently operating.
When was NatWest Group founded?
NatWest Group was founded in 1727. It employs 5,001 to 10,000 people.
Where is NatWest Group based?
NatWest Group is headquartered in Edinburgh, United Kingdom, in the Europe region.
How does NatWest Group make money?
Seven revenue lines are on record. Retail Banking net interest and fees are the primary driver. The others are commercial & Institutional Banking, private Banking & Wealth Management fees, capital markets and balance sheet risk optimisation, merchant payments (Tyl by NatWest), asset finance (Lombard) and protection insurance commissions.
Who are NatWest Group's main competitors?
Direct peers on record are Barclays, HSBC Holdings, Lloyds Banking Group and Santander UK. Emerging players are Starling Bank, Investec and Metro Bank. Broad incumbents are Deutsche Bank and Standard Chartered. Virgin Money UK is listed as a regional player.
Does NatWest Group have an API?
Yes. NatWest Group operates a 'Bank of APIs' portal providing Open Banking and third-party provider APIs, allowing developers and third-party providers to access NatWest's banking infrastructure for building financial services applications. Developer documentation is at www.natwestgroup.com/who-we-are/contact-us/open-banking-and-third-party-providers-api-portal-page.html.
What industry is NatWest Group in?
NatWest Group's product category is Retail Banking. Its primary akta.pro industry code is BPAMAFAD, Digital Banking & Neobank Platforms, with a secondary code of FSAGAAAM, Customer Experience & Engagement (CRM, Support, Rewards, Loyalty). Its NAICS code is 5221 and its SIC code is 6021.