Dataiku, an enterprise AI and machine learning platform headquartered in New York, has entered into a partnership with NatWest Markets, the investment banking arm of The Royal Bank of Scotland Group. Under the agreement, Dataiku will provide NatWest Markets with self-service analytics and automated machine learning.
NatWest Markets has already developed digital self-service applications covering FX, rates, risk management, international payments. Its new agreement with Dataiku will allow the bank to access a centralised data platform with the goal of driving collaboration between its technical and front office users, powering self-service analytics and ensuring that machine learning models are put into production as efficiently as possible to improve trade execution. Strategic roles across the bank, including users in Client Analytics, FI Algorithmic Trading, FX Trading, as well as analysts, subject matter experts, quants and data scientists will use the platform.
The platform enables data analysts and other domain experts to use data in its raw format to analyse, prepare and automate data, with an end-to-end, centralised collaborative data science and analytics platform replacing separate tools for data preparation, coding and AutoML.
“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.”