PerCent – AI-Powered Personal Finance Assistant 💰

Introduction

PerCent is a personal finance assistant leveraging AI-driven insights and goal tracking to simplify financial planning. It combines a RAG-based AI chatbot with robust backend technologies, empowering users to make informed financial decisions while managing expenses, savings, and investments.

Motivation

Millions struggle with managing their finances, especially young professionals and students transitioning to financial independence. PerCent addresses this challenge by offering a simple, personalized tool to streamline budgeting, track goals, and gain financial literacy.

Problem Definition

The project solves critical financial challenges:

1. Expense Tracking: Simplifies categorization and analysis of spending.
2. Goal Tracking: Helps users define and monitor short- and long-term financial goals.
3. Real-Time Financial Insights: Leverages RAG workflows to deliver accurate advice via AI chatbots.

Functional Requirements

• Goal Setting: Users can set monthly or yearly savings goals and track progress.
• Expense Categorization: Automatically categorizes income and expenses for better insights.
• AI Chatbot: Provides personalized financial advice through conversational AI.
• Financial Literacy Hub: Offers curated courses and financial news.

Non-Functional Requirements

• Performance: Supports real-time response for 10k+ concurrent users.
• Scalability: Designed to handle increasing user loads and additional features.
• Security: Ensures encrypted transactions and protects sensitive data.

Technology Stack

Methodology

Workflow Architecture

1. Frontend Interaction:
   • Users interact with the app through mobile (React Native) or web dashboards.
2. Message Queue:
   • Tasks are queued via RabbitMQ or Redis Streams for asynchronous processing.
3. AI Insights:
   • Semantic search and summarization via Hugging Face models.
   • NLP query generation and responses powered by Qwen-14B-Chat.
4. Backend Processing:
   • Expense and goal data are processed using Express.js and stored in PostgreSQL.
5. Real-Time Notifications:
   • Updates are sent to the frontend via Redis Pub/Sub and WebSockets.

Features

1. AI Chatbot:
   • Provides personalized advice, such as spending optimizations or investment recommendations.
2. Goal Tracking:
   • Users can set goals, monitor progress, and receive actionable insights.
3. Expense Categorization:
   • Automatically organizes expenses into categories with visual reports.
4. Financial Literacy:
   • Access courses, tutorials, and news to improve financial knowledge.

Assessment Framework

To ensure optimal performance and resource efficiency, PerCent includes a sustainability assessment framework:

• Message Queue Metrics:
  • Evaluate task throughput and latency with RabbitMQ and Redis Streams.
• AI Model Performance:
  • Analyze latency and accuracy of Hugging Face and Qwen models.
• Database Optimization:
  • Monitor query execution times and caching efficiency in PostgreSQL and Redis.

Conclusion

PerCent delivers a seamless and AI-driven approach to financial planning, empowering users to manage their finances with ease. It effectively integrates real-time insights, goal tracking, and expense management while leveraging cutting-edge AI and scalable technologies.

The project aligns with:

• SDG 9: Industry, Innovation, and Infrastructure.
• SDG 12: Responsible Consumption and Production.

References

1. Brown, L., et al. (2023). AI and Financial Empowerment: Semantic Search in Finance. Journal of Applied AI Research.
2. Hugging Face (2024). all-mpnet-base-v2 Semantic Search Documentation.
3. RabbitMQ (2023). RabbitMQ Guide to Message Queue Optimization.

Future Enhancements

• Predictive Analytics: Integrate AI-powered forecasting for savings and investments.
• Family Integration: Allow shared financial goals for collaborative planning.

Team

• Frontend & UX: Aditya Kulkarni
• Backend & AI Integration: Aditya Pai

GitHub Repository

PerCent GitHub Repository

Thank you for exploring PerCent! We are committed to helping individuals achieve financial independence through innovative technology and AI-driven insights. 😊