NatWest Group has extended its decade-long collaboration with customer engagement firm Reward, a move the bank says will deepen personalisation across its MyRewards loyalty scheme and reinforce ties with millions of account holders.

The fresh agreement keeps Reward at the helm of MyRewards, which offers tailored cashback and discounts to debit and credit card customers. NatWest said the renewal builds on a record of “meaningful, value-driven” incentives and will accelerate the adoption of artificial-intelligence tools that refine offers in real time.

Lewis Broadie, head of current accounts, everyday banking at NatWest Group, said the bank’s priority is to make loyalty feel relevant. “Delivering personalised, meaningful value to our customers is central to our strategy, and our partnership with Reward enables us to do that at scale,” he noted. “As customer expectations continue to evolve, we’re excited to build on this relationship to drive even greater innovation, insight, and engagement for our customer base.”

Under the extended deal, Reward will roll out an “innovation roadmap” centred on AI-powered hyper-personalisation and precision targeting. James House, Reward’s chief commercial officer, said the companies plan to “deliver billions in rewards” by harnessing data more effectively. “Together, we’ve evolved the MyRewards programme, setting the standard for data-driven customer engagement,” he said. “This next chapter is about delivering our exciting innovation agenda, through deeper personalisation, AI-powered activation, and creating value at every touchpoint.”

Reward positions itself as a specialist in commerce media and says it has already surpassed its goal of returning $2 billion in cashback to users by 2025. Its proprietary engagement platform will continue to support multi-channel campaigns for NatWest, linking spend data with partner offers.

For NatWest, the renewed partnership arrives as competition intensifies from fintech challengers and digital-only banks that court customers with slick apps and bespoke rewards. Analysts suggest banks with long-standing loyalty schemes can blunt that challenge by converting routine transactions into tangible benefits, thereby increasing retention and cross-selling opportunities.

Neither NatWest nor Reward disclosed the length or financial terms of the new contract. Both firms signalled that further product launches are likely, with insights from AI expected to influence everything from merchant selection to notification timing.

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