Now more than ever, people need support finding smart ways to save on their everyday bills and spending. The Office for National Statistics found that the average household in 2018 was spending £572.60 every week. Now in the midst of a worldwide health and financial crisis caused by Coronavirus, people need help finding savings and cutting down costs. That’s where Snoop comes in.
After a three month beta test concluded in April 2020, Snoop officially opened its friendly arms for everyone and anyone who’d like to save on their everyday bills and spending.
To do this Snoop use OpenWrks’ API under the Technical Service Provider (TSP) model, benefiting from categorisation and merchant groupings to identify areas of overspending.
As a Technical Service Provider, we use the AISP's credentials to connect to Data Providers. This allows Snoop to act as the authorised party to present account information back to customers, while using OpenWrks services to request consent and retrieve account information.
John Natalizia, CEO at Snoop commented “We chose to work with OpenWrks under the TSP model because they care about the same things we do, helping people make much more of their money. The OpenWrks platform enabled us to scale Snoop without having to invest time, energy and resource into building against bank APIs, instead we invested that time in our product and customers enabling us to launch in April of this year.”
Snoop has a clear mission, to help people spend, save and live smarter. To enable Snoop to achieve this mission we released new and enhanced features.
We map against the Standard Financial Statement (SFS) but we’ve expanded and enhanced the OpenWrks categories to allow businesses like Snoop to get more granular spending and income insights. We’ve launched a number of new categories to help Snoop identify areas of spend, where savings are possible.
You can find a breakdown of the OpenWrks categories in our Developer Documents.
“The OpenWrks categories enable Snoop to provide customers with accurate spending summaries and bill tracking, while providing the basis to help customers save on their everyday bills and subscriptions. The OpenWrks categories apply the extra level of detail needed for Snoop to identify areas of spend and therefore savings.” - John Natalizia, CEO at Snoop
It’s important for Snoop and customers to see refreshed views of balances and accounts so that Snoop can always provide customers with up to date savings and switches.
To make sure this happens Snoop plan to use the new OpenWrks API feature - the refresh endpoint.
The refresh endpoint allows Snoop to perform ad hoc refreshes by providing multiple account IDs for a single user ID.
Every ninety-days Snoop’s customers need to re-consent to continue the use of account information in the Snoop app. To make this a simple, sleek process, Snoop return the previous consentId to our Reconsent endpoint, so that bank accounts are pre-selected.
We’re thrilled to be working with the Snoop Team, as they are driven by the same goals as us, to create products and applications to improve people’s everyday lives by using Open Banking as a force for good.