Saga, a British insurance and holiday company, is partnering with NatWest Boxed, NatWest Group’s banking-as-a-service business, to offer financial products to millions of Saga customers.
Through the new partnership, Saga will use the NatWest Boxed embedded finance platform to launch a suite of savings products that specifically caters to the needs and preferences of those over 50. This new partnership is an extension of Saga Money’s offer, maintaining the ethos that people over 50 across the UK deserve a suite of products that are designed specifically to cater for their needs.
Saga Money CEO, Jerry Toher, discussed the move: “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.”
This long-term strategic partnership will see NatWest Boxed’s financial products made available to existing Saga customers, as well as attract new savers. Saga now plans 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.
“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,” added Andrew Ellis, CEO of NatWest Boxed. “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.”
