Former Virgin Money CEO Jayne-Anne Gadhia launches new fintech

The financial management app has launched a month early as a result of the coronavirus crisis.

Snoop, a financial management platform, has been launched today a month ahead of schedule after successfully completing a beta testing round with 5,000 customers. 

The fintech is spearheaded by former Virgin Money Boss Dame Jayne-Anne Gadhia and claims that the average household could save up to £1,500 through the platform.

Regulated by the Financial Conduct Authority, Snoop uses open banking to connect to a customer’s bank account and give tailored insights into how customers might be able to save money.

The platform uses a mix of AI and human expertise, it says, to assess policies from over 1,000 providers to make sure its customers are getting the best deal.

Jayne-Anne Gadhia, executive chair of Snoop, said: “The coronavirus pandemic has been a gamechanger 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 offers a completely personalised view of a customer’s finances, with an individual feed of ‘Snoops’ showing them how to save money based on their spending. Customers no longer need to trawl through bank statements and detailed money-saving websites looking for ways to save.”

The company says the release was brought forward to meet the growing demand for money-saving services as more and more households begin to feel the financial pinch of the coronavirus pandemic.

John Natalizia, CEO of Snoop, added: “It’s no exaggeration to say that we’re living in extraordinary times and I’m delighted that we’ve been able to accelerate our launch so Snoop can help consumers and households at a time when it may be needed most.”