Inspiration
This project draws inspiration from the field of game theory, specifically from a study that demonstrated how the equal sharing of meal costs can influence spending behavior. The findings revealed that when individuals contribute equally towards a shared meal, they tend to spend more compared to situations where they anticipate solely using their own funds, without the involvement of others' money. In addition to the aforementioned features, our MVP aligns with Sustainable Development Goal number 12, which focuses on promoting sustainable production and consumption patterns. By encouraging individuals to bear their fair share of costs, we aim to foster more sustainable consumption habits. Through this approach, users can become more conscious of their spending, leading to reduced consumption and, subsequently, decreased carbon emissions associated with food production. By integrating these principles into our solution, we contribute to the broader objective of sustainable development and a more environmentally friendly approach to personal consumption.
What it does
Our MVP aims to simplify the process of splitting expenses through a Strands transaction, providing an intuitive and streamlined alternative to the traditional method of using a calculator and pen. With our solution, users can effortlessly distribute expenses by uploading a photo of the receipt and assigning responsible parties. To promote a sense of personal accountability, we incorporate an unequal splitting mechanism where individuals are asked to contribute their share through a Bizzum transaction. By implementing this approach, we strive to enhance personal responsibility and facilitate a smoother expense distribution experience.
How we built it
Our product utilizes artificial intelligence to efficiently extract information from receipts. Leveraging advanced algorithms, we have developed a backend solution using Python that processes and analyzes the extracted data. To provide a seamless user experience, we have complemented the backend with a frontend built using Angular. This combination of technologies allows us to deliver a comprehensive solution that seamlessly integrates AI-powered receipt reading capabilities with a user-friendly interface. By harnessing the power of AI, Python, and Angular, we have created a robust product that simplifies expense management and enhances user satisfaction.
Challenges we ran into
Throughout our journey, we encountered various challenges, particularly during the initial phase. As newcomers to the banking sector, we faced the task of understanding its intricacies and identifying creative solutions for our product. Despite these challenges, we persevered and eventually discovered a unique concept that resonates well in the Spanish market.
The development process presented additional hurdles, especially when it came to implementing the AI capabilities and creating a seamless frontend experience. However, we approached these challenges with determination and tenacity, ensuring that they did not hinder our progress or compromise our delivery timeline.
While there were obstacles to overcome, none proved insurmountable. We remained committed to our goals and remained steadfast in our resolve to deliver the product successfully. Through perseverance and a collaborative spirit, we were able to navigate the difficulties and bring our product to fruition within the agreed-upon timeframe.
Accomplishments that we're proud of
We take great pride in our ability to adapt and rise to challenges, especially when confronted with unfamiliar APIs. Our commitment to tackling complex problems related to the financial well-being of individuals and the environment motivated us to explore uncharted territory.
Despite the steep learning curve and limited prior exposure to the specific API, we embraced the challenge wholeheartedly. We invested time and effort into understanding its intricacies, ensuring that we could leverage its capabilities effectively. Our team's tenacity and dedication proved invaluable during this process.
Addressing a problem that holds significant implications for both individuals and the environment added an extra layer of importance to our mission. We recognized the significance of our work and the potential positive impact it could have on people's lives and sustainability efforts. This awareness further fueled our determination to find innovative solutions.
In the end, our ability to adapt, learn, and solve complex problems enabled us to overcome the hurdles associated with the unfamiliar API. We are immensely proud of our accomplishments, knowing that our efforts contribute to both the financial well-being of individuals and the betterment of our environment.
What we learned
Our journey has been a valuable learning experience, offering insights into the intricacies of the financial sector and the areas where traditional banks have room for improvement. As we delved into this world, we gained a deeper understanding of the challenges and opportunities that exist within the industry.
Simultaneously, our technical skills underwent significant growth. Through the development of our product, we honed our abilities, expanding our knowledge base and enhancing our expertise. We tackled complex technical tasks, pushing the boundaries of what we thought possible and finding innovative solutions to the problems we encountered.
Teamwork played a crucial role in our success. With a well-defined separation of roles, we capitalized on the diverse strengths and talents within our team. Collaborating effectively, we synergized our efforts to achieve our common objectives. Each team member contributed their unique expertise, fostering a dynamic and productive work environment.
Overall, our journey has been a catalyst for growth and development. We have not only expanded our understanding of the financial sector but also elevated our technical skills and nurtured a strong sense of teamwork. Armed with this newfound knowledge and experience, we are well-equipped to continue our pursuit of excellence and drive positive change in the industry.
What's next for Pepe Exchange
Our vision for Pepe Exchange is to enhance its invoice interpretation capabilities on a global scale. We aspire to broaden its scope and enable it to accurately interpret invoices from various countries and regions, accommodating diverse formats and languages. By doing so, we aim to make Pepe Exchange a truly versatile solution that caters to a wider audience.
In addition to expanding its interpretational capabilities, we recognize the importance of refining the frontend experience. Our goal is to create a more immersive and user-friendly interface that simplifies the entire process for individuals. We aim to make the experience as seamless and painless as possible, ensuring that users can effortlessly navigate through the platform and accomplish their tasks with ease.
Through continuous improvement and innovation, we are committed to making Pepe Exchange a comprehensive and delightful solution for individuals worldwide. By combining enhanced global invoice interpretation with an immersive frontend experience, we strive to offer a powerful and user-centric platform that optimizes the invoice management process for people everywhere.
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