How Snoop is unlocking smarter saving with variable recurring payments (VRP)
With a mission to help people make the most of their money, fintech company Snoop has always been about doing the heavy lifting on behalf of its users. Now, with the launch of variable recurring payments (VRP), Snoop is introducing a smarter, more flexible way for people to build their savings – and making the most of Tink’s open banking solutions in the process.
With sweeping VRP enabled, Snoop users can set flexible, automated deposits from their current account into their Snoop savings account on a weekly or monthly basis - on the day that suits them. This new capability builds on the app’s existing savings features, which already include smart insights and nudges that help customers shift spare cash into high-interest savings.
Open banking has made saving smarter, faster, and more flexible, said John Natalizia, CEO and Co-Founder of Snoop: “With VRPs, we’re unlocking a new level of control and ease. This is about building better habits with less effort – and helping people grow their money without needing to think about it every day.”
Ian Morrin, Tink’s Head of Payments, added: "Snoop is innovating experiences with a clear focus on the customer and their financial health. At Tink, we’re excited to see these VRP developments and Snoop going to market with this fantastic product.”
Supporting smarter saving
Snoop also supports goal-based saving, with over 80% of users setting targets like emergency funds. The app already recommends monthly contributions and nudges users when spare cash is available – and soon, even more automation will be introduced, including payday savings, roundups, and advanced sweep rules.
How does VRP Work?
VRP works by letting users approve a bank connection and spending limit just once – with funds moved based on the rules they’ve set. It means greater convenience without compromising on control or security.
Interested in seeing how Tink and Snoop’s open banking collaboration has taken shape? Watch the customer case study video here:
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