Finwise

Inspiration

Our team focused on financial literacy as our approach and “why”. This made us team up together with the same reason in mind and thought we’d be a good fit with each other and enjoy the hackathon process. We’re inspired to create a goal tracking application and match people spending habits to be in a community space together which keeps them accountable. The stake techology allowed the compound effect and usage of crypto USDC as the yield AYC interest on the ROI for the goals. When users deposit into the end goal and did not retrieve any money within the time period, they’re eligible to receive the yield achieved which will grew into more yield percentage and grow compound overtime.

What it does

Allows GenZ to be financially accountable while working on budget goal tracking with friends and similar community minded. The focus on savings goals where yield will be grown over time with a stable coin in the market. This minimise the application risk of security where bank security is concerned where we could use Privy to build our digital wallet and depend on the safe coin market.

Challenges we ran into

On the first day, we’re stuck on identifying the main pinpoint problem on financial literacy. On some point, we talked about all the industry that has issue on finance from social perspective such as homelessness and debt into wealth management and investment. In the end, we did the “9 crazy ideas” exercise where we challenged ourselevs to come up with nine bold, rediculous, wild and unique solutions. This creative stretch allowed our team to clear the fog and got us through the breakthough to understand the core problem we needed to solve. This concluded on “too much information” resources that are available in the internet.

Accomplishments that we’re proud of

We are proud that we’ve bonded and had fun throughout the hackathon. We also agreed to continued to test out our business idea and build our MVP further from this hackathon. We also got to time crunch our UI/UX integration from mid day 2 to today and finally create a final MVP that’s viable enough for a short brief time crunch built. We also get to focused and discussed on the problem that we are solving rather than going to circles on our solution.

What we learned

At first, one of our member thought that a mentor background is “not appblicable to our situation” and “probably not worth our time.” However, this mentor has dropped insight on our product and mad ea product-market fit which made our approach 100x better. We learned that every mentor is valuable, from feedbacks to insights and input it would help the startup progress.

Whats next for Finwise

We’ll elaborate on the features that we want to integrate into our MVP including personalised AI matcher through spending habits, personality spender and match it with a suitable pod. We’ll also apply for future incubator programs such as Incubate, Peter Farrel Cup, and other incubators program.

Built With

• react
• tailwind