Congratulations to NatWest for Winning the Celent Model Risk Manager Award of the Year

Core Insights - NatWest, the UK's largest business bank, has been awarded the Celent Risk Manager Award for its transformation of risk and change governance processes [1][2] - The bank's approach emphasizes process excellence and operational efficiency, utilizing low-code automation to enhance agility and speed [2] - NatWest aims to significantly reduce the time required for governance processes from 73 days to just 73 minutes, showcasing a commitment to innovation [3] Group 1: Transformation and Automation - NatWest identified opportunities to automate 46% of data in their governance processes, which previously required extensive internal scrutiny and approvals [2] - The previous governance process could take three to four weeks for policy changes, with the overall time from idea to value extending to three to four months [2] - The implementation of a low-code automation solution has become central to NatWest's workflow management and data integration efforts [3] Group 2: Industry Impact and Future Directions - The Change Governance initiative at NatWest is positioned to set a precedent for innovative process automation approaches within the financial services sector [3] - Industry experts recognize the potential of NatWest's initiatives to empower management teams to implement changes swiftly and effectively [3] - The ongoing journey of transformation at NatWest indicates a strong focus on boosting productivity, reducing risk, and enhancing customer experience [3]