The AA Launches New Savings and Loan Accounts via NatWest Boxed Partnership

In a bid to broaden its financial services, The Automobile Association (AA) has unveiled new savings and loan accounts for its members and the wider market, according to Finextra. This initiative is powered by embedded finance tools provided by NatWest Boxed, marking a significant advancement in the AA’s service offerings.

With this partnership, AA customers can now enjoy the convenience of topping up and withdrawing funds instantly from their FSCS-protected savings accounts. In addition, they will have the opportunity to apply for personal loans that can be approved and disbursed within minutes, streamlining access to essential financial services.

Andrew Ellis, CEO of NatWest Boxed, emphasized the strategic importance of the collaboration: “Our partnership with The AA is a significant step in our journey to be the leading embedded finance provider in the UK. 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.”

This initial rollout of savings accounts and unsecured personal loans is just the first phase of a long-term strategic partnership. The AA is expected to expand its offerings in the near future, introducing a broader suite of embedded finance products that aim to cater to the evolving needs of its customer base.