The problem Samriddhi solves

Our country is filled with people who aren’t very stable financially. Unlike those of us who are better along with respect to our finances, they don’t have the liberty to get into the currently tedious process of taking out a loan. Ironically, in the “golden age” of technology, we have yet to find a holistic solution to this issue. Not everyone can obtain statements of their transaction history for the purpose of applying loans to NBFCs, even for meager amounts. One of the solutions is to give the companies access to their banking details to make the process more fluid. But that comes with your own privacy concerns.

Samriddhi provides users with a stable, secure, and seamless connection between them, and the two partied structure of taking out a loan.

It is a revolutionary concept based on the functionalities of services such as Account Aggregator made by the same people behind "UPI". Samriddhi creates a secure connection between your information archive, usually the bank you use, and the FIUs. FIUs, or Financial Information Users.

Samriddhi enables the user to have absolute control over their data and allows them to specify how much data is to be shared with the FIU, and for how long.

Challenges we ran into

The API provided by OneMoney had a test mode, as well as a live update mode, however, the live model was still a work in progress and thus we had to contact the developers to solve the issue.

The financial data which we received through the API in a form of a JSON document was very raw and had to be processed heavily before being presented to the FIU Dashboard.

Had to create a new serviceworker.js file for Samriddhi 's React-based progressive web application for a proper app like cache features for a better mobile experience.

The communication between the flask server and the react front end was blocked by a CORS policy security prevention measure which had to be rectified, this was solved by enabling https all across.

We set an ambitious goal to create two separate user interfaces which were time-consuming and was solved by using an easy to use a library like tailwind CSS.