Snoop launch a month early “to help households during coronavirus”
Snoop, the UK-based fintech app which helps consumers save money on bills and subscriptions, has brought forward its consumer launch by one month to help households during coronavirus.
Headed by Dame Jayne-Anne Gadhia, former CEO of Virgin Money and Salesforce, the start-up has finished its 5,000-person beta and has unveiled its app to everyone on Google Play and in the App Store.
The Snoop app uses artificial intelligence (AI) to scour the internet on behalf of users to find the best deals, all the while using OpenWrk’s open banking technology to keep an eye on their bills to make sure customers aren’t overcharged.
The Office for National Statistics’ estimates that a median household disposable income in the UK was £29,600 last year, and Snoop says it could save families as much as £1,500 a year.
The start-up landed approval from the Financial Conduct Authority (FCA) in November to be an information service provider, and had planned to launch to consumers in May, but brought the launch forward by a month due to the cash flow pressure the pandemic it putting on UK households.
“The coronavirus pandemic has been a gamechanger for everyone,” Gadhia says in a statement.
“We know money is going to be tight for many in the months to come and so we’ve worked flat out to get to market as soon as humanly possible.”
Snoop users will get their own personalised feed of ‘Snoops’ which will be money saving suggestions based on their spending and the 1,000 merchants and retailers Snoop has connected with to deliver the service.
“At its core, Snoop is about putting people in charge of their data and helping everyone make the most of their money,” Gadhia adds.
The app has also put together timely advice on how to cope with the lockdown, helping parents home-school and entertain their children whilst working from home.