Grab a money saving deal
New fintech companies are taking advantage of the legal requirement for banks to share customer transaction data. Now money management, savings, lending, and consumer deals apps can be built on top of everyone else’s transaction history. Open Banking (AKA PSD2) FTW! Aggregating and analysing spending data is all good, but really success is down to whether the experience is epic enough for customers to use it repeatedly.
In this battle Snoop and Yolt go head-to-head. Who will win when it comes to grabbing a money saving deal?
Snoop
Yolt
Snoop
Snoop is a robot buddy who has presumably been left behind by humans, departing on giant spaceships, to clear up and organise a planet strewn with the debris of millions of referral schemes. Snoop is cute and digs up deals and saving tips based on your spending.
Connecting bank accounts to Snoop is a straightforward open banking journey. I added my AMEX card. Tap through your transactions and Snoop finds deals based on that spending item. It’s a great pattern. Finding a snoop or two on a transaction feels rewarding and is quite addictive. Offers and saving tips are a bit few and far between, but Snoop is also crowd-sourcing deals from customers. So, if you know of a deal, submit a snoop.
Yolt
Yolt seem grown up and straight-laced compared to Snoop. Yolt have an ’Action’ tab, where action happens. Really it’s the marketplace with products like insurance, pensions, and investments. Earn rewards is also there, on a big panel with a red dot, which means it must be pressed.
An interstitial does a thorough job explaining that offers are personalised and you get a % back on purchases, which you can exchange for an Amazon voucher. Count me in. I press the button. The rewards are presented as a scrollable list of brands, but they don't seem personalised. These are standard referral links. It’s simple, functional, but it doesn't tap into my spending data. Hardcore coupon-ers will probably already have other places to find similar deals.
