The RBS marketing team has notified its existing agencies of the review, which is expected to cover digital activity for both the NatWest and RBS brands.
It is understood that the review is being driven by cost efficiencies and the group is hoping to consolidate its digital advertising output.
Agencies on the RBS digital ad roster include Glue Isobar, SapientNitro and AKQA.
In April last year, RBS launched a digital creative review that was open to agencies including its existing roster. In contrast, this review only focuses on its current agencies of record.
The RBS marketing team is in a state of flux following numerous departures and a restructure under the RBS managing director, products and marketing, UK Retail, Les Matheson.
M&C Saatchi and CHI & Partners handle RBS’s advertising and CHI also works on direct marketing for RBS brands including Churchill.
In the past, the group has used a range of agencies, including Lida for DM and Carlson Marketing for its personal banking services.
RBS would not comment on the review.