The AA has teamed up with the Bank of Ireland to provide a range of financial services to UK consumers.
The deal is for at least 10 years and will see the roadside recovery firm launch a number of AA branded financial services products including credit cards, loans, cash savings and mortgages.
The first product, a new credit card, is expected later this month with other products being added over the remainder of 2015 – and in the case of mortgages from 2016.
The initiative is part of a wider strategy, as announced in March, to transform the AA into a membership club serving more of the UK motorists’ needs.
This new venture builds on the AA’s brand strength and financial services expertise
Bob Mackenzie, executive chairman at the AA, said;
“This long term partnership forms a fundamental part of our growth strategy to transform the AA into a membership club serving a broader range of the UK motorists’ needs. AA Financial Services has, in the past, been an important player in the credit card, loans and savings market places.
“This new venture builds on the AA’s brand strength and financial services expertise and lays the foundations for the AA to develop a long term strategic financial services proposition.
“BOI UK has proven skill in delivering successful partnerships, and will provide us with the platform to do this.”