NatWest Boxed, Saga partner to offer tailored savings for over-50s

Saga, a company dedicated to serving the over-50 demographic, has announced a seven-year partnership with NatWest Boxed, the banking-as-a-service division of NatWest Group.

This collaboration will utilise NatWest Boxed’s embedded finance platform to deliver a range of savings products tailored specifically for individuals more than 50.

The initial focus will be on launching a suite of savings products that cater to the unique needs and preferences of this demographic.

These offerings will be accessible to both existing Saga customers and new savers, with plans to expand into additional financial services in the future.

NatWest Boxed CEO Andrew Ellis said: “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.

“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.”

Combining NatWest’s extensive resources and regulatory expertise with Saga’s deep understanding of the over-50 market, the partnership aims to provide easy-to-use products and reliable customer service.

This initiative aligns with Saga Money’s commitment to offering tailored financial solutions, ensuring that people over 50 in the UK have access to products designed specifically for them.

As Saga seeks to enhance its financial services portfolio, further details on additional offerings are expected to be announced soon.

Saga Money CEO Jerry Toher said: “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.”

In May this year, Saga announced it is in discussions with NatWest to create a new line of personal banking products, beginning with a savings offering.

"NatWest Boxed, Saga partner to offer tailored savings for over-50s" was originally created and published by Retail Banker International, a GlobalData owned brand.

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