The UK’s top financial watchdog has given its thumbs up for a new payment app launched by the former boss of Virgin Money.
Dame Jayne-Anne Gadhia’s new venture Snoop has been approved by the Financial Conduct Authority (FCA) to handle customer data as an information service provider. That also includes data from banks.
This paves the way for Dame Gadhia and other ex-Virgin Money executives’ startup to launch in 2020 when it will be available on Android and iPhone devices.
Scott Mowbray, Dame Gadhia’s co-founder, told City A.M., “Now that we’ve got regulatory approval from the FCA we can move towards executing our launch plans.
“We’ve already got thousands of people signed up and waiting for the first version of Snoop and we will now prepare the ground for our closed group beta in the New Year before rolling out Snoop to everyone.”
The company has previously been backed by Salesforce Ventures, the investment arm of Salesforce. Dame Gadhia currently serves as CEO of Salesforce’s UK division.
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