The Automoblie Association (AA) is to open savings and loan accounts for members and the wider market using embedded finance tools from NatWest Boxed.
AA customers will be able to top-up and withdraw money instantly from their new FSCS protected savings account andd apply for personal loans, which can be approved and dispersed in minutes.
Andrew Ellis, CEO of NatWest Boxed says: “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.”
Savings and unsecured personal loans are the first step of a long-term strategic partnership, he says, with the AA expected to launch a wider suite of embedded finance products over time.