We are excited to announce our new partnership with money-monitoring app Snoop, one of the fastest growing open banking solutions in the UK market. The beauty of Snoop’s Open Banking data is that it connects a customer spend activity across multiple cards and bank accounts, giving a holistic view of total spend behaviour. This creates powerful new insights on where consumers are spending, how much, how often and when.
For Starcount, as a consumer data & insights agency, we have a legacy of revealing customer behaviours for the benefit of both brand and customer. So together, we are excited to launch our new insight and measurement platform for brands and agencies to reveal actual spending habits of consumers across brands and their competitors, Spend Mapper.
What problem does the Spend Mapper solve?
There are two key challenges and limitations with transaction data insights available to date…
Firstly, individual banks have a narrow view of consumer spend, only seeing the expenditure of consumers through their card or bank. This presents blind spots across industries and spend behaviour.
Secondly, there are challenges of who owns this data and where their loyalty lies in protecting information. For example, card providers such as Mastercard and Visa offer payment systems to retailers. This means they have to be careful to not reveal sensitive competitive behaviour, as a result, all insight is aggregated to categories of groups of merchants.
The Opportunity
The opportunity lies in a data set that gives a holistic view of customer spend – joining accounts across banks- and one where the data is owned by the provider and in turn the benefit of monetising the data gives a benefit to their customers as rewards.
This is where Spend Mapper comes in…
Together with Snoop, we have launched a new platform for brands and agencies to reveal actual spending habits of consumers across brands and their competitors.
These reports analyse the spending behaviour of over 250,000 customers, creating a nationally representative view of the UK population’s spending behaviour. The insights include 3 years of transactions across all bank providers and includes both online and offline spending habits.
