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INTERNATIONAL JOURNAL OF RECENT TRENDS IN TECHNOLOGY AND ENGINEERING (IJRTTE)

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An AI-Powered Mobile Application for Intelligent Personal Finance Management and Decision Support

Manjushree Nayak
Associate Professor, Department of Computer Science and Engineering, NIST University, India.
K Jayakumar
Professor, Department of Electrical and Electronics Engineering, J.J.College of Engineering and Technology, India .

Keywords: Personal Finance Management Artificial Intelligence Machine Learning Decision Support System Financial Forecasting Predictive Analytics Financial Literacy Mobile Application Data Privacy Real-Time Monitoring Secure Financial Data Federated Learning Investment Recommendation Budget Optimization Financial Risk Management

Abstract

Personal financial management systems have been widely known in recent years, but the existing one’s lack personalization, fail to adapt to changing data, lack prediction, and do not meet the requirements of security. This paper introduces an innovative AI-enabled mobile app for intelligent, adaptive, protected personal finance management and decision-making support. Using state of the art machine learning techniques along with real-time data feeds and natural language processing, the system can deliver extremely personalised financial recommendations that help you, the user, bridge your spending behaviour, patterns in income, and long-term financial goals. The application uses predictive analytics to anticipate future spending, changes in income, and potential financial liabilities, which could then inform proactive financial planning. The added security features such as end-to-end encryption, GDPR and PCI DSS compliance, accomplish the goal of strong data privacy. Secondly, the AI integrates AI-based learning modules to improve financial literacy thus democratizing complicated financial concepts to users ranging from beginners to expert to benefit. Bank, Credit and Payment integrations allow full financial data aggregations. An easy-to-use mobile app empowers real-time decision-making, dynamically tracking goals, and ongoing financial awareness for users of every demographic, from individuals to the small business owner. Experiments and prototype user experience design show that our system superiority in adaptability, scalability and user satisfaction than the previous personal finance management solutions
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Details
Published
2024-09-07
Pages
1-16
Issue
Vol. 3 No. 3 (2024): IJRTTE - 03 - 03
Section
Articles

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