We want to address the problem of Financial Education and Inclusion. Most people are unaware of basic financial resources—let alone the availability of expensive technical tools and information large companies and professional investors use to invest money and yield high returns. Due to financial illiteracy, people often do not trust financial institutions which results in them not being able to save money more cost-effectively.
We noticed that existing bank comparison platforms are often paid by sponsors and institutions to promote their services. Resources around finding bank accounts often only exist in the form of over-generalized articles and don’t offer thorough comparisons.
What it does
WalletWorth is a platform that allows everyone—from everyday savers to curious investors, to make better judgments on existing financial services. It is designed to be cost-effective and personalized so anyone can use our platform to find the best saving methods for their goals.
Search platform that compares different savings and investment vehicles to help people find the best rates for them based on a set of criteria—their initial deposit amount, their financial goals, risk tolerance, and bank preferences.
- Sentiment Analysis: Using Natural Language Processing (NLP) on web scraped data from articles of verified analysts and trusted sources.
- Manageable Portfolio of all accounts, funds, etc. that are opened via our platform.
What makes us different
- Cost-efficient software - Companies like Bloomberg, Dow Jones, and Thomson Reuters all have insider information for their professional investors—worth about $30,000+ per person/instance.
- Sentiment Analysis - We want full transparency on information harvested from verified analysts and articles on funds as well as financial institutions. We want to use this feature to bridge the gap between financial institutions and newcomers to the financial market.
- Consolidated Database of all offerings by different financial institutions through automation.
How we built it
Challenges we ran into
There is no consolidated database of bank information, it was difficult for us to figure out a way to pull the rates and other statistic from different financial institutions. It was also hard for us to parse through large datasets of financial information and turning it into viable data that's easy for users to understand.
Accomplishments that we're proud of
The search engine works! We are able to filter the relevant banks for the low risk category based on your initial deposit input, changing the risk level adjusts the results accordingly.
What's next for WalletWorth
Alternative Investment Vehicles Not only do we want to give the people to have the ability to do financial actions with traditional investment vehicles, we want to also drive our customers to alternative investment vehicles such as Bitcoin or other cryptocurrency. Despite cryptocurrency being highly volatile, with the historical stock performance and sentiment analysis of the cryptocurrency, our platform is uniquely positioned to project the most accurate crypto value for investment.
Fundamental Portfolio Allocation Through historical data and machine learning, we can project the return on investment on the portfolio and allocate the initial deposit across all accounts. This allocation is only a suggestion to the user in order to empower them to make the best financial decision.
- Webflow (Front-end base)
- IEX Cloud (Index & Mutual Funds Datastrain)
- Illustrated Icons by Vectorstall from Noun Project
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