Tink is working alongside money saving app Snoop to help UK customers with their money management during the current cost-of-living crisis.
The open banking platform will collaborate with its new partner to provide real-time transaction data aggregated through Tink’s solution, as Snoop will offer its free app to help customers reduce their bills and gain new controls over their finances.
Along with bill and finance management, the pairing companies will also aim to pay off debts, grow customer savings and help them save where they spend.
“With inflation at its highest in over 40 years, services like Snoop are invaluable as the cost-of-living continues to soar,” stated Tom Pope, Head of Payments and Platforms at Tink.
“By providing proactive money management insights, through data that shows consumers where they can save – this is a collaboration that is demonstrating the real-world value of open banking.”
As Snoop passes one million downloads of its money saving app, it will work together with Tink to ‘empower people to use their own data as a powerful force to save money’, also boosting the ability to take control of their finances.
Tink also hopes to showcase the benefits that open banking technology can provide as it looks to address the “very serious challenges” being presented by the current economic climate.
John Natalizia, Co-Founder and CEO at Snoop, commented: “Consumers are already having a terrible time of it right now and, with interest rates going through the roof from all-time lows, people with mortgages and debts are facing a very real credit crunch over the coming months.
“Our aim is for Snoop to be an essential resource for everyone looking to navigate these turbulent times. Working together with Tink means we can provide contextual money-saving insights and deliver a personalised, fast and accurate customer experience.”