AI FINANCE PLATFORM - WELTH

PROJECT SYNOPSIS

GURU TEGH BAHADUR INSTITUTE OF

TECHNOLOGY

Submitted By:
Ishika Gulati (04613203121)

Mentor:
 INDEX

TOPIC PAGE NO.

ABSTARCT 3

PROBLEM STATEMENT 4

INTRODUCTION 5

OBJECTIVES 6

TECHNICAL STACK 7

FEATURES AND 8-9

FUNCTIONALITY

FUTURE SCOPE AND 10

CONCLUSION

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 ABSTRACT

Managing personal finances efficiently is crucial in today’s fast-paced world, where

individuals often struggle to track their expenses, incomes, and overall financial health.
Traditional budgeting methods are time-consuming and ineffective, while existing finance
management applications lack advanced AI-driven insights that can help users make better
financial decisions. Our AI Finance Platform is designed to fill this gap by leveraging
state-of-the-art artificial intelligence technologies to automate transaction tracking, provide
real-time financial analysis, and generate insightful reports.
This platform allows users to seamlessly monitor their income and expenses, categorize
transactions, and visualize their financial trends over time. It includes powerful features
such as recurring transaction automation, spending category analysis, personalized budget
recommendations, and AI-driven financial predictions. Additionally, users receive email
alerts when they exceed their budget limits, ensuring they stay on track with their financial
goals. Monthly financial reports and interactive charts help users understand their spending
habits and make necessary adjustments to optimize their finances.

Security and ease of access are key priorities of the platform, with Google Sign-In
authentication ensuring a hassle-free and secure login experience. The built-in transaction
search and filtering functionalities allow users to quickly locate specific financial records.
Moreover, the system supports detailed category-wise spending analysis, helping users
identify areas where they can cut costs and improve savings.
By integrating AI-powered insights, interactive financial tools, and user-friendly design,
our platform provides an all-in-one solution for individuals looking to gain control over
their financial well-being. The future scope of this project includes advanced features such
as AI-based budget recommendations, investment tracking, and mobile application
expansion, making it a comprehensive financial management tool.

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 PROBLEM STATEMENT

Many individuals struggle to maintain a structured financial plan due to a lack of proper
tools for tracking expenses and income. Existing finance apps lack AI-driven insights and
interactive financial reports. There is a strong need for a smart finance management
platform that can:

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 INTRODUCTION

The increasing complexity of personal finance management has made it essential to have
an intelligent and automated system that assists individuals in handling their expenses and
incomes. Many people struggle to track their financial transactions manually, leading to
inefficient budgeting and poor financial decisions. To address this issue, our AI Finance
Platform provides a smart and automated approach to managing personal finances.
Our system ensures seamless income and expense tracking through AI-driven automation.
Users can categorize transactions effortlessly, generate monthly reports, and receive real-
time insights into their financial activities. By leveraging AI technology, the platform
identifies spending patterns, predicts future financial trends, and provides personalized
budget recommendations, helping users make well-informed financial choices.
One of the key aspects of the platform is its ability to automate recurring transactions such
as bill payments and subscriptions. This feature eliminates the need for manual entries and
ensures that users do not miss important payments. Additionally, the platform sends email
alerts when spending crosses predefined budget limits, encouraging responsible financial
behavior.

Interactive financial charts and visual reports enhance user engagement, making it easier to
understand and analyze financial trends. With Google Sign-In authentication, users can
securely access their accounts without hassle. The search and filter functionalities allow
quick retrieval of past transactions, and category-wise spending data enables users to
manage their money more effectively.
As a comprehensive financial management solution, this platform not only simplifies
expense tracking but also promotes financial literacy and discipline. The system's future
enhancements will include AI-based budget recommendations, investment tracking, and
mobile app development, further improving user experience and financial decision-
making.

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 OBJECTIVES
1. Automate Expense Tracking: Develop an AI-driven platform for seamless
tracking of transactions.

2. Recurring Transactions: Enable users to schedule automatic transactions.

3. Email Alerts: Notify users when they exceed their budget limits.

4. Interactive Reports: Provide long-term financial insights through visually

appealing charts.

5. Google Authentication: Simplify user onboarding with Google Sign-In.

6. Search and Filter Transactions: Implement a powerful search system for quick
access to financial records.

7. Secure and Scalable Architecture: Ensure data security with Prisma ORM and
deploy a highly scalable system.

8. Financial Goal Setting: Allow users to set financial goals and track progress
through the app.

9. AI-Based Budget Optimization: Provide personalized budget recommendations

based on spending habits.

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 TECHNICAL STACK

Frontend:
The frontend of the platform is developed using Next.js, which ensures
efficient server-side rendering, better SEO, and enhanced performance. To
maintain a visually appealing and responsive user interface, we utilize
Tailwind CSS, a utility-first framework that allows for rapid styling and
customization. Additionally, ShadCN UI provides pre-styled components that
contribute to an aesthetically pleasing and modern design.

Backend:
The backend is powered by Prisma ORM, a modern database toolkit that
simplifies database management and ensures security and efficiency. To
enhance the intelligence of the platform, Google Gemini AI is integrated to
provide smart financial insights, predict spending patterns, and optimize
budgeting strategies.

Database:
The platform supports PostgreSQL and MySQL, two robust relational
database systems that provide structured and scalable data storage solutions.
These databases ensure data integrity and enable seamless retrieval of financial
records.

Authentication & Security:

For a secure and hassle-free user authentication process, the platform
incorporates Google OAuth, allowing users to sign in with their Google
accounts securely. This approach enhances user convenience while ensuring
data privacy and protection.

Deployment :
The platform is deployed using Vercel, a cloud platform that ensures smooth
Next.js deployment with minimal downtime. Additionally, Docker is
employed to containerize the application, ensuring consistency across different
environments and facilitating easy scalability.

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 FEATURES AND FUNCTIONALITY
1. Automated Expense & Income Tracking
The platform enables users to automatically track their daily income and expenses without
the need for manual data entry. Transactions are categorized using AI algorithms to
provide a structured and detailed financial overview.

2. Recurring Transactions Management

Users can set up recurring payments for bills, subscriptions, and other expenses, ensuring
they never miss a payment. The system automatically logs these transactions, reducing
manual effort.

3. Real-Time Spending Alerts

The platform sends email notifications when users exceed their predefined spending limits.
This feature helps users stay within their budget and avoid overspending.

4. Interactive Financial Charts & Reports

Users can visualize their financial health with interactive charts and graphs. These insights
provide a clear understanding of spending patterns, allowing users to make informed
decisions. Monthly financial reports summarize income, expenses, and savings trends.

5. Category-Based Spending Analysis

Every transaction is automatically categorized (e.g., groceries, entertainment, rent) to
provide users with a detailed breakdown of their expenditures. This helps in identifying
unnecessary expenses and optimizing budgets accordingly.

6. AI-Based Budget Recommendations

The platform suggests optimized budgets based on a user’s financial history and spending
behavior. AI-driven analytics help users plan better financial strategies.

7. Google Sign-Up & Secure Authentication

Users can sign up and log in using their Google accounts, ensuring a fast and secure
authentication process. This feature enhances user convenience and data security.

8. Search and Filter Transactions

The platform includes an advanced search and filtering feature, allowing users to quickly
find specific transactions based on date, amount, or category.

9. Long-Term Financial Health Monitoring

The system provides users with periodic assessments of their financial health, helping
them track improvements over time and adjust their spending habits accordingly.

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10. Future Enhancements
Planned features include investment tracking, integration with payment gateways for
seamless transactions, and AI-powered predictive financial planning tools.

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 FUTURE SCOPE
• AI-Based Budget Recommendations: Suggests optimized budgets based
on spending habits.

• Integration with Payment Gateways: To automate bill payments and bank

synchronization.

• Multi-User Support: Family and business finance management.

• Investment Tracking: AI-based investment suggestions and portfolio

tracking.

• Mobile App Development: Expansion to Android and iOS for better

accessibility.

• Smart Voice Assistance: Implementing AI-powered voice interactions for

an enhanced user experience.

CONCLUSION
Our AI Finance Platform is designed to be a powerful and intelligent solution for
personal finance management. By integrating AI-driven insights, predictive
analytics, and automated tracking, it enables users to take full control of their
financial health. Future enhancements, such as AI-based budget recommendations
and investment tracking, will further enhance the platform's capabilities. The goal
is to provide a one-stop solution that simplifies financial planning and promotes
smart financial habits for all users.

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