The AA has partnered with NatWest’s banking-as-a-service (BaaS) arm as it looks to launch a range of financial services, including savings accounts and personal loans.

NatWest Boxed provides a modular, API-driven, and cloud-native platform that companies to offer financial services to their customers. The business was created in 2022 through a strategic partnership between NatWest and Vodeno.

The UK's leading provider of roadside assistance will now be able to launch instant access, FSCS-protected savings accounts and personal loans that can be approved in minutes, with customers able to instantly top up and withdraw money.

The AA, which currently serves 14 million members, said the new financial service offering will be available later this year.

The AA already provides several key services, including insurance, breakdown cover, loans, and motor advice.

Jakob Pfaudler, chief executive of The AA said the partnership supports the firm’s wider strategy to drive growth by expanding its services.

“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,” he added.

Andrew Ellis, chief executive officer of NatWest Boxed commented on the partnership: “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.”

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