Saga and NatWest Boxed, NatWest Group’s banking-as-a-service business, anounced a partnership where Saga will use Boxed’s embedded finance platform to offer financial products to millions of Saga customers. This will see the launch of a suite of savings products that recognises, and caters to, the distinct needs and preferences of those over-50.
This long-term strategic partnership will see NatWest Boxed’s financial products made available to existing Saga customers, as well as attract new savers. It will enable Saga to expand its range of financial services, initially through an improved savings proposition, with other financial services products expected to be added in due course.
The partnership combines NatWest’s scale and Boxed’s platform, operational and compliance expertise with Saga’s extensive insight and experience in the market for people over 50. This synergy will deliver easy-to-use products and services, while also featuring accessible and reliable customer service.
This new partnership is an extension of Saga Money’s offer – maintaining the same ethos that people over 50 across the UK deserve a suite of products that are designed specifically to cater for their needs.
Jerry Toher, CEO of Saga Money, said:
“As the UK’s specialist in providing products for people over 50, this launch is an exciting next step in enhancing our Money offer. This will further strengthen our position in providing competitive and flexible savings products, ensuring that Saga remains the most-trusted brand for people over 50 in the UK. I look forward to working with the NatWest Boxed team as we continue our strategy of delivering great value products to support customers with their savings goals.”
Andrew Ellis, CEO of NatWest Boxed said:
“Trusted brands are well positioned to reward customers for their loyalty, while keeping their best interests at heart. This partnership is a testament to how leading firms like Saga can deploy new technology, like embedded finance, to offer specialised products and services at the point of need, provide additional value to customers, and drive sustainable behaviours. We’re proud to partner with a brand like Saga as they grow and optimise their offer, and it is a significant step in our journey to be the leading embedded finance partner in the UK.”
