People around the world struggle to manage their money. Many of these people simply budget improperly. So, we decided to make this process both simple and fun! We were inspired by Google's open source Tesseract API and its potential to simplify budgeting.
What it does
Moneytization allows its users to scan their receipts, storing the information from all their purchases. This information will include the stores and services that the user frequents, locating their transactions on a user-friendly map that can track all their habits. From there on, the app will recommend options in order to cut back on expenses so that the user may improve poor financial choices.
How we built it
We utilized Google's Tesseract API (Ocular Character Recognition) in conjunction with MapBox to create a budget application that features a receipt scanner. We took data from business locations from various sources to create our Catrogram MapBox style. We parsed addresses into GeoJSON data and stored the respective money spent after reading it in using the text recognition scanner.
Challenges we ran into
We struggled in utilizing Google's Tesseract API to efficiently implement a way to scan receipts. We were able to overcome this by splitting this complicated process into multiple parts through the usage of abstraction.
Accomplishments that we're proud of
We not only managed to implement the ocular character recognition process, but also converted addresses into GeoJSON data that we could add into MapBox.
What we learned
We learned that MapBox provides a unique and straightforward method of visualizing financial data. Just knowing that you go to StarBucks three times a day provides insight as to where you're spending the most money as well as how to improve.
What's next for Moneytization
We hope to expand the concept of ocular character recognition to other financial matters such as checking, taxes, and stocks.