NatWest Boxed Secures First Deal
Hey Digital Banking Fanatic!
NatWest Boxed, the Banking-as-a-Service (BaaS) arm of NatWest, has signed its first customer. The AA, known for its roadside assistance, will begin offering instant access savings accounts to its members by the end of March, followed by personal loans.
This marks a shift for the AA, which previously partnered with Bank of Ireland. That relationship ended in December 2023, leaving a temporary gap in new customer onboarding. With NatWest Boxed, the AA aims to expand its financial offerings beyond its core membership.
NatWest Boxed is a joint venture between NatWest and FinTech firm Vodeno, launched three years ago. Signing its first customer, NatWest Boxed lays the foundation to showcase its capabilities, positioning itself to attract more businesses looking to integrate financial services into their offerings.
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DIGITAL BANKING NEWS
🇬🇧 The AA unveils plans to offer savings accounts and personal loans. The announcement is the first step in a long-term partnership with NatWest Boxed. This will enable the AA to expand its range of financial services, with products that could help people save for their first driving lesson or help with the cost of an emergency repair.
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