Snorkl is a 24/7 AI-powered platform that provides instant, judgment-free financial support, helping users understand their debt options and manage their bills effectively. By offering personalized guidance and resources, Snorkl empowers individuals to take control of their financial situation in under two minutes.
Funding
Funding not disclosed
Founders
Product
Problem
Customers in financial difficulty often avoid engaging with creditors due to shame, fear, inconvenience, or lack of understanding, leading to debt write-offs and increased collection costs for creditors. Existing self-serve portals may not provide sufficient guidance or instill confidence in users to take appropriate action.
Solution
Snorkl is a conversational AI platform designed to support customers in financial difficulty and improve engagement with creditors. The platform provides 24/7, judgment-free support, answering debt and money questions and guiding users through available options, including self-serve actions. Snorkl identifies vulnerabilities and financial situations, sharing insights and conversation transcripts with creditors through flexible data-sharing options. The platform also supports multi-debt scenarios, contacting and sharing relevant information with all the user's creditors, eliminating the need for customers to complete multiple income and expenditure forms.
Target Audience
Snorkl primarily targets creditors seeking to improve engagement with customers in financial difficulty, reduce debt write-offs and collection costs, and ensure regulatory compliance.
Features
- AI-powered chatbot trained in debt guidance and creditor-specific content
- Conversational income and expenditure assessments
- Integration with creditor collection journeys
- Identification of customer vulnerabilities and financial situations
- Flexible data sharing options for creditors, including conversation transcripts and insights
- Multi-debt support, facilitating communication with multiple creditors
- Secure design with GDPR compliance and a QA framework to mitigate AI hallucination and regulatory risks