The AA partners with NatWest Boxed to introduce own-brand financial products
Ellie Duncan | News
25 Feb 2025
UK-based embedded finance provider NatWest Boxed has formed a strategic partnership with The AA, enabling the car insurer and roadside assistance provider to start offering own-brand financial products, starting with savings accounts and personal loans.
Through the partnership, NatWest Boxed’s embedded finance products will be made available to The AA’s existing customers, as well as to the wider market.
Customers of The AA will be able to apply for and open an instant access savings account and unsecured personal loans later this year.
Customers that apply for The AA’s new FSCS-protected instant savings accounts will be able to top-up and withdraw funds instantly, while also benefitting from “market-leading” interest rates on personal loans, which can be approved and dispersed “in minutes”.
The AA’s personal breakdown members and insurance customers will be offered a differentiated product range.
Unsecured personal loans and savings accounts are the first in a wider suite of embedded finance products that The AA intends to offer its members and new customers, via its partnership with NatWest Boxed.
Jakob Pfaudler, chief executive officer of The AA, said: “We are delighted to announce this financial services partnership with NatWest Boxed as we continue to broaden the range of services we offer our members.
“This partnership demonstrates our strategy to drive growth by expanding our driving services and is supported by the strength of our brand. We look forward to working with NatWest Boxed to ensure we are able to offer the products and services that really work for our customers’ needs.”
NatWest Boxed’s modular, API-driven and cloud-native platform delivers banking services both securely and “at scale”, as non-financial brands seek to deliver financial services directly to their customers.
NatWest Boxed is also backed by the operations, customer support and compliance expertise of the NatWest Group.
Andrew Ellis, chief executive officer of NatWest Boxed, added: “Boxed was built to power the financial services aspirations of UK’s biggest brands.
“We are proud to support the ambition The AA has for its customers, using our technology, balance sheet, operational support, and regulatory expertise to drive future growth.”
In March last year, research by NatWest Boxed and Boston Consulting Group found that UK retailers saw incremental revenue growth as a result of implementing embedded finance.
