NatWest Digital Spending Tool: Turning Transaction Data into Insights

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15 March 2022

Winner of Celent Model Bank 2022 Award for Open Banking (Part II)

Key research questions

  • How are NatWest leveraging transaction data to deliver spending insights?
  • What has the customer impact?
  • What role will open banking play in the development of this service in 2022?


The NatWest Digital Spending Tool provides customers with real-time and spersonalised insights into their spending behaviour. The aim is to support better financial decision making by showing users more clearly where they typically spend their money. At the back end, transaction data is categorised and analysed, enabling the bank to surface key insights and recommend actions. To achieve this, the bank has partnered with Tink to develop a transaction categorisation engine capable of meeting the needs of its customers. This partnership has delivered strong results in terms of customer engagement, and the bank will invest further in this product in 2022.

The most important change NatWest is likely to make is to extend the reach of the Digital Spending Tool to include data from customer accounts at other institutions. This will leverage both the UK’s open banking infrastructure and the resource investment the bank has made in transaction data enrichment.

NatWest is a strong example for other banks to follow in using open banking to strengthen its payment services and is a worthy winner of the Model Bank 2022 Award for Open Banking.