This video is a prototype created from Framer.js You can try the demo here


Using Penny-Wise, we wish to alleviate the problem of extra-spending while using plastic money (credit and debit cards). Studies have shown that people burn 12%-18% more money when using credit/debit cards. For example, McDonald’s claim that their average ticket is $7 when using credit cards, as compared to $4.5 for cash. When making cash-based payment, people are more cautious since cash is a real & tangible thing that has value attached to it. You see it and process it. Using this app, we aim to make users more alert and informed about their use of money.

What it does

Once the user creates an account and logs into our app, he has the option to login to the bank with which they maintain their account. Once authenticated, the information about your account balance will be retrieved. The user needs to set a weekly budget for himself based on their expense structure and day of the week to start the weekly cycle. Once done, we use gamification technique to make the user realize about their expenditure and maintaining budget. Since users are more likely to be sentimental while seeing their money go rather than just using plastic money, this will develop a sense of realization and motivation to save. In addition, the user can also check past weekly budgets and analyse the trend of how disciplined they are while maintaining their budgets.

How I built it

It is an iOS application that is currently designed and optimized for iPhones (since they are the most used devices among younger generation). We used Swift as our primary programming language and the backend was implemented with FireBase. We also went through the process of initial research and ideation, wireframing, prototyping and then eventually final design.

Challenges I ran into

First, we faced challenges while integrating with CapitalOne API since the documentation is very shallow and the learning curve is steep. Secondly, none of our team members had experience with iOS app dev before this hackathon, so it was challenge that we all were excited about and we learnt and implemented at the same time. Developing animations in iOS app was one of the most time consuming task with a lot of limitations.

Accomplishments that I'm proud of

Our team pulled off the complete product that we visualized before the deadline. This is a huge achievement since it presents the hardwork and perseverance of the team towards learning new technologies and implementing the ideas. Also, we worked as a team, building on each others ideas, rather than criticizing them. This gave us more wide perspective for each aspect of the product while designing it.

What I learned

  • Setup and work with Firebase.
  • Developing iOS mobile application
  • Creating animations in iOS using Swift
  • How to use CapitalOne’s API

What's next for Penny-Wise

  • Integrations with all banks
  • Refine the current themes that we designed
  • Research and add more themes that have more impact on users helping them become alert and cautious about using their money
  • Analysis of user’s spending trends and empowering users to make informed decisions.
  • Better reporting feature for past transactions
  • Extend the concept to iWatch and other wearable devices, since they can give real-time notifications about expenditures and are more accessible.

Built With

  • Firebase
  • Swift
  • iOS SDK (XCode)
  • CapitalOne API
  • Sketch (Design)
  • Framer JS (Prototyping)
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