FinAID, A Financial Advisor Application using AI

Abstract

The need for skilled financial advisors is more than ever in the current scenario when there are in-numerous money-making strategies and at the same time, the global economy might be on the verge of collapse. Also there is a pure lack of good financial advisors and even if you find one, you will end up paying a hefty amount. The current proposed application fulfils the above-stated demand in a cost-effective and reliable way. The proposed system automates the job of a financial advisor using Artificial Intelligence. It provides the user with a simple and easy to use interface where every individual will have their own account handled by Google’s firebase platform. The application uses 'Plaid' API which allows app to send a request to the corresponding bank server and fetch the account details of an individual. Logged in user is shown a very comprehensive representation of their account details which also includes category-wise expenditure, their investment, and the savings. One of the unique parts of this project is a Chatbot which is ever ready to answer the queries of the user related to their accounts and finance. Dialogflow will help in the functionality of Chatbot incorporating Google's machine learning expertise. The proposed application will help provide every needy individual a very reliable, easy to use, and cost-efficient solution to their problem of having a personal financial advisor.