NatWest Group is intensifying its focus on technology innovation and expanding its engineering talent in India. As part of its growth strategy, the UK-based bank plans to invest in early-stage Indian startups. The investments will range from $250,000 to $2 million per deal, targeting Series A or Series B companies, and sometimes even earlier-stage ventures. NatWest aims to take small stakes in these companies and work closely with them to facilitate their scaling process.
The bank's investment focus includes payment solutions, agentic artificial intelligence, and control frameworks. These investments aim to establish tech partnerships and build digital capabilities. Scott Marcar, Group Chief Information Officer, highlighted the bank's preference for early-stage companies, emphasizing their collaborative approach to help these companies scale.
NatWest Group is also expanding its technology centers in India, with plans to hire an additional 3,000 engineers. Currently, over 50% of NatWest's engineering talent is based in India, making it the group's largest engineering hub, even exceeding its UK presence. The expansion aims to support the growing digital innovation efforts of the bank. NatWest has three centers in India, located in Gurugram, Chennai, and Bengaluru, employing around 17,000 people. The recent inauguration of its expanded global capability center (GCC) in Bengaluru signifies a shift towards developing customer-facing solutions using digital and AI capabilities.
India plays a pivotal role in NatWest's digital transformation, serving as an innovation engine and helping the bank build agility and productivity to meet evolving customer expectations. NatWest's India offices are not merely operational centers but are crucial in driving innovation and global operations for the group. The teams in India are focused on platform engineering, DevOps, and enterprise data, contributing to the bank's enterprise strategy led by operational excellence.
NatWest is investing significantly in technology and digital capabilities to enhance customer experiences and build a digitally resilient, customer-first bank. In 2024 alone, the bank invested over £1.1 billion in bank-wide simplification and customer experience enhancements. NatWest is also collaborating with Google Cloud to provide AI tools, cloud technology, and expert training to entrepreneurs on its Accelerator program, equipping them with digital skills to unlock business growth.
The bank's commitment to India is further demonstrated through its various initiatives, including the NatWest India Foundation. NatWest recognizes India as a strategic growth market, driven by robust infrastructure investments, government-led innovation programs, and a rapidly evolving talent ecosystem. The expansion of its R&D footprint and increased hiring in India underscore the country's importance in NatWest's global strategy.
