Saga PLC (LON:SAGA) has become a partner of Marcus, the savings bank set up by Goldman Sachs with joint products to be launched in the autumn.
Marcus launched in the UK in September 2018 and has attracted over 250,000 customers thus far.
Saga said the savings partnership is one of several initiatives designed to return the group to its 'heritage of high-quality products and services'.
In April, the over-50s specialist posted a huge loss after taking a £310mln impairment charge in its insurance division and slashed its dividend to 4p from 9p.
Lance Batchelor, Saga’s chief executive said: "We know that our customers hold a large proportion of their wealth in savings and want to know that they're getting a great return with a brand they can trust.
"This is an important strategic partnership for Saga that will help us provide innovative and high- quality products.”
Saga shares rose 6% to 43.6p.