Money-saving app Snoop launches early in attempt to help consumers cut costs in coronavirus squeeze

by

Money-saving app Snoop launches early in attempt to help consumers cut costs during coronavirus squeeze

By Daily Mail City & Finance Reporter

Published: | Updated:

Money-saving app Snoop launched yesterday, earlier than expected in an attempt to help consumers cut costs in the coronavirus squeeze. 

Founded and led by former Virgin Money boss Jayne-Anne Gadhia, the app uses technology to recommend users a list of personalised money-saving ideas. 

According to its estimates, it could save the average household up to £1,500 per year. The app was expected to launch in May but said it brought the roll-out forward to help people manage their household outgoings through the lockdown and during the economic slump which is expected to follow. 

Finger on the pulse: The app uses technology to recommend users a list of personalised money-saving ideas

Gadhia, Snoop’s executive chairman, said: ‘The coronavirus pandemic has been a game-changer for everyone. 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 uses so-called open banking technology to connect to a customer’s bank account and credit cards and, with their permission, analyse the data. It then uses a mix of artificial and human intelligence to suggest ways in which customers could cut costs.

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.