Saga in strategic partnership with NatWest to deliver over-50s savings products

(Sharecast News) - Saga said on Monday that it has entered into a seven-year partnership with NatWest's banking-as-a-service business, NatWest Boxed, to deliver "innovative" savings products for people over 50. It said the long-term strategic partnership combines NatWest's scale and Boxed's platform, operational and compliance expertise with Saga's "extensive insight and experience" in the market for people over 50.

Saga said the partnership will enable it to expand its range of financial services, initially through an improved instant access savings product, with additional savings and other financial services products expected in due course.

The new partnership will also facilitate an extension of Saga Money's offer, building on the company's belief that people over 50 across the UK deserve a suite of products that are designed to cater for their needs.

The new instant access savings product, developed through the NatWest partnership, will replace Saga's current Goldman Sachs instant access savings product for new customers and will be launched later this year.

Jerry Toher, chief executive of Saga Money, 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.

"I look forward to working with NatWest Boxed as we continue our strategy of delivering great value products to support customers with their savings goals."