• Contact us
      • Contact Us
      Have a question?
      Try speaking to one of our experts
      Contact us
      Information
      • Careers
      • Privacy Notice
      • Cookie Notice
      • Terms of Use
      • Office Locations
      Sign up for industry updates
      Stay up to date on Celent's latest features and releases.
      Sign up
      • Privacy Notice
      • Cookie Notice
      • Manage Cookies
      • Terms of Use
      REPORT
      NatWest: Innovating in Payments via Open Banking
      Winner of Celent Model Bank 2020 Award for Innovation Frontier (Part II)
      15th April 2020
      //NatWest: Innovating in Payments via Open Banking

      The Celent Model Bank Innovation Frontier award recognises the financial institution’s commitment to innovation and willingness to invest and experiment with leading- and even bleeding-edge technologies. NatWest demonstrated such commitment to innovation in 2020 with two separate initiatives: Quantum-Computing-as-a-Service (QCaaS) and Payit.

      This is Part II of the award-winning case study, which profiles NatWest’s Payit initiative. NatWest’s QCaaS initiative is described in Part I, NatWest: Getting Ready for Quantum Computing.

      NatWest Payit is an innovative account-to-account (A2A) merchant payments solution that leverages the Open Banking infrastructure in the UK. It allows consumers to pay merchants by authorising payments directly from a bank account rather than by card. While it remains to be seen how widely the solution becomes adopted by merchants and consumers, there are potentially attractive benefits for all parties. For NatWest, it is a valuable opportunity to engage with clients in a different context and be at the forefront of developing innovative Open Banking solutions.

      See all 2020 Celent Model Bank winners here.

      Author
      Zilvinas Bareisis
      Zilvinas Bareisis
      Director, Retail Banking and Payments
      Zilvinas Bareisis
      Details
      Geographic Focus
      Asia-Pacific, EMEA, LATAM, North America
      Horizontal Topics
      Innovation
      Industry
      Corporate Banking, Retail Banking