Captica

Inspiration

Managing one's finances is a very important skill but many people are not very good at it. Hiring a personal accountant for the same is very expensive. So in order to provide a much cheaper and reliable option for people to understand and manage their finances, we have introduced FinAI, an application that understands your spending patterns and provides you with accurate insights on managing your finances in a better way.

What it does

FinAI gathers your transaction details and uses ML algorithms to understand your spending behaviour. Based on this, it predicts well in advance, whether you are going to achieve your financial goals this month or not. If it predicts that you will miss your target, then it highlights the exact reason and spending patterns because of which you fail to achieve your financial goals.

How we built it

User spending analysis is done using custom-built clustering and classification algorithms. The model not only looks at your spending data but also compares your spending patterns with other people like you. It clusters users based on their spending patterns and uses that data as well to generate insights.

Challenges we ran into

The main challenge was to understand and group users based on their spending data.

Accomplishments that we're proud of

We are proud to announce that our model predicts the results with an accuracy of > 97% (Based on the data that we have collected from more than 100 people)