Last updated: 03 August 2020 07:20 PM
Updated youtube link again
Problems of the customers:
No proper way to see all your finance in one place
Customers not being given the benefit they deserve: - Financial institutions have been having our transactional data since day 1, however they haven’t used them in any positive way for the customers. This is India, and Indians die for offers and discounts. Hence, it is high time to reward them for their day to day transactions.
Problems for the brands:
Ineffective and Inefficient advertisement and distribution of offers
Brands don’t have insights about their customers
Our idea can be split into two major parts:
For the future we also have in mind to develop a brand side dashboard where the brands can view all the possible insightful information about their customers such as no. of loyal customers, no. of coupons availed etc. This valuable information can be used to increase their market by deciding suitable offers.
The most difficult challenge we faced was to extract brand/company names from the narration of a transaction. Later after cleaning the data and understanding each type of transaction, we were able to develop a method to accurately extract the required information from a transaction. Also, while setting up the sandbox we came accross some issues which were solved with the help of One Money technical support.