Financial success predictions from artificial intelligence analysis of time-series data.
The world is slowly adopting an “open banking” philosophy, which allows controlled, authorized access of consumer banking data to third-party service providers. Our team’s goal is to develop a prototype application that will allow its users to track their personal spending habits through Artificial Intelligence (AI) and offer suggestions on ways to improve their financial situation. Financial institutions will be able to use this data to assess the users' credibility and their ability to manage their finances.
Some people have poor, personal financial management skills. The business need we are addressing is to create an automated way to examine people's spending habits and suggest what they can change. Recently, we have met with our sponsor and discussed the project at length. As this is a research project, no system is in place, so we are building our prototype from scratch. We have our team name and logo established. A general timeline for the milestones and the scope of our project has also been discussed.
Proposed System Design