Olivia - noblewoman who is wooed by Duke Orsino but instead falls in love with his messenger Cesario ('Twelfth Night' - 1602) - Sounds like a millennial.
Millennials - born between 1980 - 2000, social and connected, encumbered with debt (specially student load debt) and have different priorities (putting off commitment longer - marriage and home ownership). However, millennials are coming off age and about to enter their prime spending age. By far, they are the largest cohort, even bigger than gen x and baby boomers.
Our product focuses on helping millennials to a. take control of their day to day finances b. plan and achieve short and medium term financial goals
We believe every small step, small saving, investment and corrective action leads to bigger gain. So here we are, helping Olivia to find out how much is her current financial net worth, check her income and expenses and provide a reliable forecast of her financial net worth.
So how we do it? Olivia can use voice user interface, integrated in our app, to find out a list of transaction by vendor or amount and setup those transactions are recurring transactions. Our budgeting process then adjusts her spendable amount. She can also setup a reminder to make a payment for certain recurring bills such internet bill, trash, water etc. Additional, we rely on Box Jenkins (ARIMA) time series forecasting algorithm to accurately forecast her net worth for next 3, 6 and 12 months by analyzing her spending behavior and income. Our app then uses all this data to help her peak into her future and judge if she can meet her short and medium term financial goal.
We let her select simple tangible goals such as $2000 -5000 travel odyssey through Africa or trip to Spain or just avoid being in situation where she rans out of cash and now has to call her parents. We have four distinct themes - Having a ball, Comfortable, Getting through and Cash crunch. App changes the theme and motivates her, based on her current and project financial situation, to adjust behavior and actions to meet her goal.