Case studies

Snoop budgeting app and savings account aim to help build better savings habits

10 July 2025

This case study covers:

  • How open banking enables enable smarter money management by delivering near real-time financial insights, personalised prompts, and automated savings.
  • How tools that help users set financial goals, and track their progress, support regular savings habits and build financial resilience.
  • Why budgeting apps like Snoop show how fintechs can help close the UK’s savings gap and support long-term financial wellbeing.

In 2021, OBL conducted the first independent research on how UK consumers used open banking-powered money management and savings apps to assess their impact on spending and saving. Many of the insights revealed by the research, which highlighted improved financial wellbeing and the ability to develop simple savings habits, still hold fast.

Snoop’s Money Management app was one of the first budgeting apps to be launched back in 2020. It aims to help UK consumers take control of their finances, and enable people to manage their money more effectively – in line with its mission ‘to make everyone better off’.

The launch of its Easy Access Savings Account is the next step in that journey, supporting users to build effective savings habits.

Making cost savings

The open banking-powered app gives users a holistic view of all their finances. It also uses open banking data to deliver personalised tips, price comparisons, and spending alerts (‘Snoops’) that spot unnecessary costs – such as forgotten subscriptions and unexpectedly high bills – and support users to switch to more cost-effective deals. It’s free to use, but offers additional features via Snoop Plus for £4.99 a month, or £39.99 a year.

What the customers say…

“This app helps you understand your expenses and provides you with an update on upcoming bills, which gives you an understanding of how much you need to keep or spend. It also provides you with offers, like switching current accounts, credit cards, or loans you could be eligible for, and above all, your credit score!”

“It’s easy to use and keeps everything on track, including offline accounts, to give you a complete overview. It also cleverly spots things like flight bookings, asks if you have bought travel insurance, and identifies transactions it wants you to check. I’ve had this app for two years now, and I couldn’t be without it!”

New account prompts customers to save

The Snoop savings account, which is incorporated into the app, spots when users have surplus funds in their current account (or low interest savings accounts), and ‘nudges’ them to shift the excess to a savings account where they can earn interest.

John Natalizia, Snoop CEO, explains why this is important: “With 14 million people in the UK holding less than £100 in savings, and over £250 billion sitting in accounts that pay no interest, we want to empower people to make the most of their money. Whether someone is just beginning to save or wants to ensure their existing savings work harder, Snoop provides a practical, user-friendly solution to help more people build a financial safety net, all in one place.”

Users can open an account with as little as £1 and save up to £85,000 via the Snoop app. The account offers a competitive interest rate, paid daily, and there are no fees.

The take-up and results have been impressive so far, with total savings balances 150% ahead of plan and the average balance per saver 50% higher than expected.

The app also offers features to support customers on their savings journey:

  • Setting savings targets: over 80% of customers use Snoop to set aside money for an emergency fund. Snoop calculates a recommended monthly amount to deposit to help customers stay on track.
  • Easy deposits: customers can make secure, and frictionless deposits directly into their bank accounts through open banking-enabled connections. Its new variable recurring payment (VRP) feature enables customers to pre-set flexible, automatic deposits from their current account into their Snoop savings on the day that suits them – weekly or monthly.
  • Regular top-ups: these allow customers to set a regular deposit amount and frequency, making it simpler to save. Snoop plans to enhance this with advanced sweep and round-up capabilities to further automate and optimise savings.

“With Snoop’s smart nudges, customers are encouraged to maximise their savings, while reminders ensure they are informed about underperforming accounts elsewhere, allowing for better financial decision-making.”

John Natalizia, CEO, Snoop

Snoop, which is owned by Vanquis, is just one of a range of apps that demonstrate open banking’s ability to support smart budgeting and saving.

Apps such as Moneyhub, Emma, Chip and Plum also offer customers a clear view of their finances, identify wasteful spending, and help people reach their savings goals.  

This echoes a previous UK Savings Week campaign which aims to create 2 million new regular savers by 2030, building that all-important financial safety net and protecting people from financial shocks.

Notes to editors

Open Banking Limited does not endorse any of the products or companies mentioned here.

If you would like to share your organisation’s experience of open banking, please email us at press@openbanking.org.uk. 

If you would like to talk to one of our team about how open banking could help your business, please email us at enquiries@openbanking.org.uk.