What do you concentrate on my fintech thought?

Hi there, finance folks!

My title is Henry, and I’m 21 years outdated. I research Worldwide Enterprise and Finance on the Universidad de Montevideo, and I’m scripting this as a result of I’ve a concrete fintech undertaking that I’d prefer to develop in Uruguay. So, I’m searching for your opinions and help.

Let me offer you some context:

For the previous few years, I’ve been serving to my mom handle her funds. Not too long ago, I got here throughout a number of bills financed in installments by her bank card (in Uruguay banks assist you to pay in as much as 12 interest-free installments in most purchases).

Due to this, I wished to know the way a lot of the overall stability on the account assertion was being paid because of installments and the way a lot got here from present month bills. So, I created a desk that breaks down installment bills in response to the remaining funds (i.e., it exhibits how a lot cash remains to be owed in installments, distributed by month till they’re absolutely paid off). This permits for higher expense forecasting and monetary decision-making. You possibly can see the desk within the picture beneath. The columns present the overall quantity paid in installments every month, whereas the rows break down how a lot stays due in 0 installments (final fee) or in 1, 2, or extra installments.

I additionally analyzed the evolution of the account assertion, separating installment bills from non-installment bills, and I created a chart (which requires multiple account assertion to be generated, we’d like the account statements as a result of in Uruguay Open Banking will not be a factor).

I’m at present automating these analyses utilizing Energy BI, and actually, I’m very proud of the outcomes—they’re tremendous easy, immediate, and really sensible. Consequently, I began pondering: I’d love for extra folks to have entry to this sort of evaluation as a result of I consider it has nice potential for private finance.

I consider that, to make this obtainable to the general public, I may develop a easy and sensible app or web site the place customers may add their account statements and immediately obtain a PDF with an in depth evaluation of their funds and installments. That’s my thought: to develop an app that presents folks with an easy-to-understand abstract of their bank card state of affairs.

Now, I need to validate whether or not that is one thing folks discover helpful, so I ask you: What do you suppose? Do you consider this device could be helpful for you or somebody ? Would you are feeling comfy sharing your account assertion for this evaluation?

Privateness is the largest problem since I perceive that I’m asking for delicate monetary data, and it’s pure for folks to be involved about how their knowledge will probably be dealt with. Nevertheless, solely transaction knowledge is important, so extra particulars like names and credit score limits might be censored.

I’m sharing a hyperlink to a Google Drive file with a really primary "demo" of what I think about the report from this future app would seem like (I plan to make use of AI for insights, that is in Spanish):

🔗 Google Drive Demo

Any feedback, optimistic or important, could be very helpful for me to evaluate whether or not this concept is actually attention-grabbing and/or possible. So, be at liberty to share your ideas! 😊

If you wish to know extra about me or contact me for any purpose, right here’s my LinkedIn:

🔗 LinkedIn Profile

Greatest regards, and I sit up for studying your ideas!