Privacy Question

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1

Hi,

I’ve recently been browsing the Monzo Community forum and noticed that there where a post about Snoop “selling data”.

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Source: Snoop App (New Open Banking Aggregator) - #163 by edo1493 - Fintech Chat - Monzo Community

I understand that this was posted a year ago but it is rather concerning considering the sensitive and personal data Snoop is given due to the nature of the app.

I took a look at Snoops privacy policy and saw “That’s why we never sell any of your personal information – because we recognise that when you use Snoop, you don’t want other companies knowing more about you so they can market to you or invade your privacy.”

The post also links “SpendMapper” which appears to be a Snoop product.

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I’m not saying Snoop is hiding anything, it is pretty clear in the privacy notice that “We also pool data from all the different sources we have - after making it totally anonymous - and use it to identify big trends in areas like consumer spending. We then use this to help other businesses make better decisions”.

My questions are the following:
Does Snoop share personal spending data, even when using the paid Snoop Plus service?
How is the data deanonymised?

Thank you

2

Hi @RazRyan

SpendMapper helps us continue offering the free version of Snoop to everyone who wants it. And yes, you’re correct— we do not share personal spending data, only fully anonymised data. For example, we might share that there was a transaction of £14.99 at JD Sports, without any details that could ever personally identify someone. To put some colour on that for you, here’s a screen shot from SpendMapper using Tesco as an example. You can see the information is presented at aggregate level only, there is nothing at a personal level.

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In terms of how we anonymise the data, we have a very robust set of processes with bank-level controls, to ensure that all references or even potential references, to an individual are removed from any data used to build aggregate insights like the one above.

Paul

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3

Thank you for your response, makes sense

4

I think sharing data helps everyone, and if it allows some to have Snoop free, then all the better.

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