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Development of a Personalized Financial Wellness Platform
  1. case
  2. Development of a Personalized Financial Wellness Platform

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Development of a Personalized Financial Wellness Platform

atta.systems
Financial services
Information technology
Consulting

Challenges in Democratizing Wealth Management

FinWise Solutions faces significant challenges in aggregating disparate financial data, ensuring robust security and compliance, and scaling their platform to accommodate a large and growing user base. They need a solution to provide real-time financial insights, personalized recommendations, and a seamless user experience while adhering to strict data privacy regulations. Current solutions lack the breadth of product comparison and personalized guidance needed for widespread adoption.

About the Client

FinWise Solutions is a rapidly growing fintech company focused on providing accessible and personalized financial planning tools to a broad consumer base. They aim to democratize wealth management through innovative technology.

Project Goals

  • Develop a scalable and secure platform for aggregating financial data from multiple institutions.
  • Create a personalized financial planning experience tailored to individual user needs.
  • Provide users with actionable insights and recommendations to improve their financial health.
  • Ensure compliance with all relevant financial regulations and data privacy standards.
  • Achieve high user engagement and retention rates.

Core System Functionalities

  • Extensive Product Comparison (credits, cards, investments)
  • Personalized Financial Recommendations
  • Global Bank Connectivity
  • Detailed Spending Insights & Reporting
  • Customizable Financial Reports
  • User-Friendly Web and Mobile Interface
  • Secure User Authentication and Data Encryption

Technology Preferences

React Native with Expo (Mobile App)
Node.js and Nest.js (Backend)
Firebase (Analytics, Crash Reporting)
Amazon Cognito (Authentication)
AppCenter CodePush (Real-time Updates)

External System Integrations

  • Bank APIs (Plaid, Yodlee, or similar)
  • Credit Bureau APIs
  • Financial Data Providers

Non-Functional Requirements

  • High Scalability
  • Robust Security and Compliance
  • Real-time Data Updates
  • Excellent Performance and Responsiveness
  • Data Privacy and Encryption
  • Localization Support (multiple languages)

Expected Business Impact

This platform is expected to significantly expand FinWise Solutions' market reach, attract new customers, and increase user engagement. By providing accessible and personalized financial tools, the platform will empower users to make informed financial decisions, leading to improved financial well-being. The platform is projected to increase user base by 50% within the first year and achieve a 4.5-star average user rating.

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