Personal Loan App

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  Personalised Loan Recommendation App

Inspiration

The inspiration behind this project is my usage of the loan apps as well in my home country, I wanted to see how best I could get financial advice when in need of a loan.

What it does

The generative AI app analyses the user's financial profile by taking parameters such as the Income, Monthly Expenses, Credit Score and other desired loan parameters. Based off the analysis, the app then generates personalised loan recommendations tailored to each user's unique financial situation.

An Interactive Scenario for Analysis, the users of this app can experiment with different loan scenarios within the app, adjusting variables such as loan amount, duration etc. By exploring the various scenarios, users can visualise how different loan options would impact their repayment plan and overall financial outlook.

How it was built it

There are 7 components to the app, being:

The user profile creation, being where the user inputs their financial information, such as income, expenses, credit score, and desired loan amount and duration.

AI Analysis, where the app utilises generative AI to analyse the user's financial profile and generate personalised loan recommendations.

Loan Options, the app presents the user with a plethora of options, inclusive of different interest rates, repayment terms, and loan amounts, all generated by AI based on the user's profile.

Interactive Interface, the interface of the app is very interactive, users can adjust parameters such as loan duration or amount to see how it affects their repayment plan and possibly interest rates.

Education and Guidance, users are given the financial literacy to better understand the implications of the different loan options and helping them make better informed decisions.

Feedback Loop, the AI learns more and more, as users interact with the app, it learns from the users behaviour thereby improving its recommendations over time.

Security and Privacy, user-sensitive data is protected to ensure strict adherence to privacy regulations.

Challenges we ran into

Other currency symbols were recognised during the creation of the app such as the Nigerian Naira symbol, NGN. Hence the irregular recommendation that was generated by the app.

Accomplishments that we're proud of

Being able to produce an app, that might be used by a lot of persons worldwide.

What we learned

How to use generative AI.

What's next for Personal Loan App

Seeing how it can incorporated into a Flutter designed App, and being able to release it in the mobile app stores for users to make use of.

Built With

• bedrock