The AA to offer instant savings & loans through NatWest Boxed partnership

By Gloria Methri

British Automobile Association The AA has partnered with NatWest Boxed to leverage the latter’s embedded finance platform to offer financial products to millions of its customers and the broader market. Later this year, AA customers can apply for and get instant access to savings accounts and unsecured personal loans.

Through an easy application process, AA customers will be able to top up and withdraw money instantly from their new FSCS-protected savings account while benefitting from market-leading rates on personal loans, which can be approved and dispersed in minutes safely and securely.

This partnership will enable The AA to substantially expand its range of financial services with transparent, easy-to-use products. This will give AA customers more control, choice, and confidence over their finances, whether they are saving for their first driving lesson or helping with the cost of an emergency repair.

The partnership will also see The AA offer a differentiated product range for its personal breakdown members and insurance customers, demonstrating and expanding the range of benefits of AA membership.

Jakob Pfaudler, CEO 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.”

Andrew Ellis, CEO of NatWest Boxed, said, “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 the UK’s biggest brands. We are proud to support The AA’s ambition for its customers, using our technology, balance sheet, operational support, and regulatory expertise to drive future growth.”

Savings and unsecured personal loans are the first steps of a long-term strategic partnership, setting the foundations for The AA to grow and offer a more expansive suite of embedded finance solutions over time. Together, NatWest Boxed and The AA will innovate to introduce new products for the benefit of members and the broader market.

It’s all powered by NatWest Boxed’s cutting-edge technology and NatWest Group’s operations, customer support and compliance expertise. Boxed combines decades of banking expertise with state-of-the-art technology. Built with a modern digital blueprint, its modular, API-driven and cloud-native platform delivers banking services securely and at scale.

This partnership is a testament to how leading firms like The AA can use new technologies to offer financial services at the point of need, provide additional value to customers, and drive sustainable behaviours.