British bank NatWest has begun offering guidance on homebuying and mortgages within ChatGPT.

Fintech outlet Finextra reported on April 30 local time that NatWest was listed in the ChatGPT app store along with Rightmove and MoneySuperMarket. That allows customers and non-customers to access NatWest's mortgage information without leaving the platform.

Users can receive bank-specific guidance by calling NatWest's API in ChatGPT. They can calculate how much they can borrow and check repayment capacity, deposit requirements and mortgage rates tailored to their personal circumstances.

The integration goes beyond providing information. Users who want to move to the next step are connected to NatWest's own channels. There, they can book an appointment with a mortgage support officer or proceed with a digital mortgage application.

Solange Chamberlain (솔랑주 체임벌린), chief executive officer for retail at NatWest Group, said homebuying is an important financial decision and the bank wants to support early mortgage planning conversations wherever they take place. She added that by putting NatWest's trusted mortgage guidance directly into ChatGPT, consumers can review their options in a more personalised and accessible way.

The service is an extension of NatWest's strategic partnership with OpenAI. NatWest became the first in Britain last year to sign a strategic partnership with OpenAI. Under the agreement, it secured access to OpenAI's full product suite and will receive early access to future tools, tailored consulting and services for executives.

In this flow, NatWest is using ChatGPT as a new external touchpoint for the bank. Not only existing customers but also users without an account can start their initial search related to homebuying within ChatGPT. Users can first gauge terms through questions and calculations and then move to NatWest channels to book consultations or submit applications.

NatWest's direct entry into the ChatGPT app store also stands out. With a bank placed alongside an environment already populated by property platforms and price comparison services, the boundary between information search and financial consultation in the homebuying process has been brought together within a single platform. Chamberlain said it gives consumers more choice, and NatWest appears to be seeking to broaden touchpoints from the initial stage of mortgage consultations.

As financial products move into a chatbot environment, the scope of guidance and responsibility are also expected to become more important. Because mortgage terms vary widely depending on interest rates, repayment periods, individual creditworthiness and deposit size, initial guidance within ChatGPT and the actual loan screening and contract stages need to be clearly separated.

The case is also significant in that banks are beginning to use generative artificial intelligence not just as a tool to support tasks but as a channel to attract customers. Attention is focused on whether financial firms will expand services within conversational platforms like ChatGPT that link product exploration, consultation booking and application conversion.