Inspiration
In our project, we aimed to develop a tool to address the problem of poverty, which in recent years affected 1 in every 5 people in the UK. We strongly believe that fight against the poverty starts with small decisions one makes every day. These decisions, though they appear insignificant, strongly influence one's financial security in the long term and very often lead to the decline of one's well-being.
What it does
The app we present has two main functionalities that substantially simplify the navigation through the complicated world of personal finances. The app collects the financial data from the user's bank, savings and broker accounts and produces an easy-to-digest summary. This feature is meant to raise users' financial self-awareness and to help them to make well-informed decisions. That is aided by an integrated chatbot, that can generate personalised recommendations and answer any questions the user may have about their financial situation.
How we built it
Frontend was developed using React, backend was developed using python and flask. Data files were stored in JSON, CSV, TXT. Stock market data was obtained using YAHOO! Finance API. For managing user logins we used Auth0. OpenAI API was used to create a chatbot assessing financial situation.
Challenges we ran into
We found it challenging to work with financial data and to find good APIs for our tool.
Accomplishments that we're proud of
We are proud to have developed an innovative tool in a very short time.
What we learned
We learned from scratch how to code in React and we strengthened our teamworking skills.
What's next for Timewise Finance
Among many features we plan to integrate one can find:
- The financial lifestyle risk assessment rating
- Improvement of personalised forecasts
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