NatWest Boxed powers Saga’s new savings products for seniors

By Vriti Gothi

NatWest Boxed, the banking-as-a-service arm of NatWest Group, has partnered with Saga Money to launch a new suite of savings products purpose-built for the UK’s over-50s community.

This long-term collaboration underscores both organisations’ commitment to digital transformation, customer-centric design and delivering tailored solutions that reflect the distinct financial needs of a growing demographic.

Under the agreement, Saga will leverage NatWest Boxed’s embedded finance platform to expand its financial services proposition, beginning with an enhanced range of savings products for millions of existing Saga customers and new savers alike. The partnership brings together NatWest’s scale and technological capabilities with Saga’s deep understanding of the over-50s market, unlocking fresh opportunities to deliver flexible, trusted financial products through a seamless digital experience.

By combining Saga’s market insight with Boxed’s operational, technological and compliance expertise, the new offering promises a user-friendly savings experience backed by the accessible and reliable service that Saga customers have come to expect. With the initial rollout focusing on competitive savings products, the roadmap includes the introduction of additional financial services over time, strengthening Saga’s position as the UK’s most trusted financial partner for people over 50.

Jerry Toher, CEO of Saga Money, said, “As the UK’s specialist in providing products for people over 50, this launch marks an exciting evolution of our Money proposition. This strategic step will reinforce our leadership in delivering competitive, flexible savings products designed around the lives and priorities of our customers. I am delighted to be partnering with the NatWest Boxed team as we continue to develop trusted, great-value products that help our customers achieve their savings goals with confidence.”

Andrew Ellis, CEO of NatWest Boxed, said, “Trusted brands are uniquely positioned to reward loyalty and keep customers’ best interests at heart. This partnership demonstrates how forward-looking organisations like Saga can harness embedded finance technology to deliver specialised solutions at the point of need, unlocking added value and driving sustainable financial behaviours. We are proud to support Saga as they enhance their offering and this collaboration marks an important milestone in our ambition to become the UK’s leading embedded finance partner.”

This strategic alliance signals both companies’ shared commitment to digital innovation and a future-focused approach to meeting evolving customer expectations. Together, Saga Money and NatWest Boxed are set to redefine savings for the over-50s, creating financial products that align with customers’ life stages while offering the flexibility, trust and ease-of-use demanded by today’s digital-first world.