NatWest Markets selects Dataiku for self-service analytics and machine learning
NatWest Markets has signed a partnership with data analytics and automation firm Dataiku.
Under the agreement, Dataiku will provide NatWest Markets with self-service analytics and automated machine learning to join up its technical and front office users.
Both firms hope that the implementation will see “improved customer experiences” and “new efficiencies across trade execution.”
NatWest Markets has already developed digital self-service applications covering FX, rates, risk management, international payments. Now it will use Dataiku’s centralised data platform to connect its technical and front office users.
Dataiku claims that its platform enables data analysts and other domain experts to use data in its raw format to analyse, prepare and automate data, and to “introduce new efficiencies in the production and everyday use of machine learning models.”
“We made a decision to accelerate our AI journey by democratising machine learning and data science across our investment banking division,” says Oliver Cooke, chief digital officer at NatWest Markets.
“This allows us to enable users with different skill levels to undertake machine learning and advanced analytics in a governed, automated and scalable manner.”
NatWest Markets was formed by the RBS Group (soon to be officially renamed NatWest Group) corporate and institutional banking divisions as part of the 2016 ringfencing structural reform in UK financial services.
New York-based Dataiku raised $101 million in December 2018 in Series C funding, and states that its main aim is to build and deliver “the missing block” in modern enterprises: a build-your-own automation platform.
Florian Douetteau, Dataiku CEO says the partnership is “a unique opportunity for Dataiku to become an enterprise AI partner […] aligned with NatWest Markets’ successful digital strategy.”