As students who are in college, one of the biggest worries that were on our minds was our ability to confidently make smart financial choices. We hope that the app we designed goes beyond the role of a basic tracker for finances and helps educate our users in becoming financially responsible so they do not have the same financial worries as we have coming out of college.
With Invealth, the goal is to use machine learning, artificial intelligence, and data analytics to spot spending patterns, locate opportunities to earn more money, recommend investments with the best ROI, and identify recurring fees for unused services such as a magazine subscription and cancel them: all in one app!
What it does
The app tracks a consumer's finances and spending activity after the consumer links his or her bank accounts, credit card accounts, and fills out a survey so that the app can build a custom financial profile for the user. After the user has set financial goals and connected his or her banking accounts, the app is abled to identify innovative ways for the user to grow, preserve, and spend his or her wealth wisely. The app also includes a chat bot provides tailored financial advice ranging from listing the stores that are providing the best price a user wishes to buy, creating an investment plan based on the user's investor style, and even forecasting what the next month looks like in terms of expenses and revenues using predictive analytics of past transaction history.
How I built it
First we created an outline to determine the workflow of our app. Then, used XCode and Swift to create the app. Next, we created the web version to show a visual representation of the app. Lastly, we included a chatbot to provide 24/7 customer service characterized by tailored financial advice based on the users unique financial profile.
Challenges I ran into
Connecting Dialogflow API with Firebase, how to score users of the app in terms of their financial health, utilizing Bootstrap to match the theme of our app, gathering sample data to test the machine learning capabilities of the app
Accomplishments that I'm proud of
Invented an intelligent chatbot with the ability to respond to the financial needs of the user, created a webpage to advertise the application and allow users to view dashboard statistics, conceptualized the applications of machine learning in financial health/literacy
What I learned
How to build an app from Scratch, create a chat bot, implementing the newest version of Bootstrap, determining the feasibility of the idea with the constraints of the available technologies
What's next for Invealth
We aim to connect the chatbot to the app and deploy into a mobile app. As the app gains traction, we intend on enforcing data privacy and protecting financial needs of the consumer. Our team will continue to innovate new ways to learn from user data by implementing more machine learning. Based on success of app, we plan to design a corporate version for business owners.