Students are often put into a position where they do not have the time nor experience to effectively budget their finances. This unfortunately leads to many students falling into debt, and having a difficult time keeping up with their finances. That's where wiSpend comes to the rescue! Our objective is to allow students to make healthy financial choices and be aware of their spending behaviours.
What it does
wiSpend is an Android application that analyses financial transactions of students and creates a predictive model of spending patterns. Our application requires no effort from the user to input their own information, as all bank transaction data is synced in real-time to the application. Our advanced financial analytics allow us to create effective budget plans tailored to each user, and to provide financial advice to help students stay on budget.
How I built it
wiSpend is build using an Android application that makes REST requests to our hosted Flask server. This server periodically creates requests to the Plaid API to obtain financial information and processes the data. Plaid API allows us to access major financial institutions' users' banking data, including transactions, balances, assets & liabilities, and much more. We focused on analysing the credit and debit transaction data, and applied statistical analytics techniques in order to identify trends from the transaction data. Based on the analysed results, the server will determine what financial advice in form of a notification to send to the user at any given point of time.
Challenges I ran into
Integration and creating our data processing algorithm.
Accomplishments that I'm proud of
This was the first time we as a group successfully brought all our individual work on the project and successfully integrated them together! This is a huge accomplishment for us as the integration part is usually the blocking factor from a successful hackathon project.
What I learned
Interfacing the Android and Web server was a huge challenge but it allowed us as developers to find clever solutions by overcoming encountered roadblocks and thereby developing our own skills.
What's next for wiSpend
Our first next feature would be to build a sophist acted budgeting app to assist users in their budgeting needs. We also plan on creating a mobile UI that can provide even more insights to users in form of charts, graphs, and infographics, as well as further developing our web platform to create a seamless experience across devices.