With an ambition to make everyone better off, Snoop is an award-winning money platform helping customers to save money, make better financial decisions and manage through the cost-of-living crisis.
Founded by a group of highly experienced former Virgin Money colleagues – led by the bank’s former CEO, Dame Jayne-Anne Gadhia – the business launched in April 2020.
Since then, the Snoop app has been downloaded well over one million times as people seek help to save money, both on their bills and overall spending.
The powerful thing with Snoop is that it’s available to everyone but unique to all. The data-driven, personalised insights ensure that Snoop can engage with customers at an individual level and provide them with a personal experience based on their circumstances.
Overcoming the loyalty penalty
Consumers operate in complex markets and research has shown that 8/10 consumers end up overpaying for at least one essential service, for example on their mobile, mortgage, insurance, or broadband bills. This is the so-called loyalty penalty, and it costs consumers billions of pounds every year.
To combat this, and help consumers keep more money in their pocket, Snoop provides data-driven, personalised insights (known as ‘Snoops’) to help customers save money – both on their bills and overall spending.
The app collates, prioritises and displays available money-saving suggestions via an individualised feed, 100% personalised, and based entirely on each customer’s distinct spending behaviour. The idea being that money should be bespoke and personal, not one-size fits all and transactional.
John Natalizia, CEO and cofounder at Snoop explains: “Snoop is doing what banks should always have been doing – delivering connected, helpful, personal experiences that genuinely make customers better off. It’s the hyper-personalised nature of the app that makes Snoop relevant, more rewarding and practically useful to customers. The app has a laser like focus on bad deals, poor value renewals and wasteful subscriptions and makes it easy for consumers to switch and save. And by helping customers to switch to better deals at exactly the right time, we estimate that we can save the average household at least £1,500 each year.”
Snoop has had over 10,000 four and five-star reviews, 8/10 customers say it’s much easier to keep on top of their money and spending, and nearly half score the platform 10/10 when asked how likely they are to recommend it.
The platform is connected to over 60 banks and, based on insights derived from transactional data, serves well over 10 million money-saving recommendations each day.
Customers can download Snoop from the App Store, Google Play and the Huawei App Gallery.