BlinkX Wealth

YOUR AI POWERED AUTOMATED FINANCE HUB

FEATURE ADDITIONS TO THE BLINKX WEALTH APP

TEAM:
Indian School of Business (ISB)
ACHINTYA SHARMA
SHRIYA MISRA
NIKITA SAMAL
Comprehend situation.

Number of Unique Investors on NSE (in millions) Generational gap in investors' priorities India (H1 2023)
100.00
Gross Domestic Saving Rate in India
Buying a home Vacation 40.00
Starting a business Emergency fund
80.00
Retirement
100
30.00
60.00
80
20.00
40.00
60

20.00 10.00
40

0.00 0.00
2018 2019 2020 2021 2022 2023 20

20 3

20 5

20 7

23
20 8
20 9
20 0
20 1
20 2

20 4

20 6

20 8
20 9
20 0
20 1
20 2
1

1
0
0
1
1
1

1
1
2
2
2
20
India has experienced unprecedented GDP
0
growth, and the Indian stock market has Millennials Generation Z
With increased investments though, the
reached new heights.
There are stark differences across gross domestic savings rate, as well as the
Due to increased financial literacy, as well
generations when it comes to prioritising household saving rate in India have been
as the ease of making investments due to
investments, with Millennials and Gen Z dropping sharply since after the great
technologically enabled solutions, more
displaying vastly different behaviours and financial crisis, suggesting greater
and more Indians are choosing to invest in
preferences. consumerism.
equities and other financial instruments.
Identify the Customer

DESCRIPTION DEMOGRAPHICS PERSONAL DETAILS

A recent college graduate, recently started Age:23 Marital Status: Single
working in her first ever job. It’s her first Gender: Female Children: 0
time living away from home and being Location: Bangalore, India Living Situation: Shares a 3
responsible for her own finances. Occupation: Business Analyst BHK with two other classmates
Income: ₹8,50,000 annually from college, who all work in
the same tech park.

FINANCIAL BEHAVIOURS
PAIN POINTS Doesn’t carry cash, pays for everything with UPI and credit cards.
Keeping track of all of her spending Exclusively shops online on e-commerce websites. Impulse buys a lot.
and subscriptions across different Frequently uses food delivery and quick commerce apps to get her daily
channels is difficult, and doing it essentials.
manually is too time consuming. Uses Splitwise to share expenses with her flatmates.
She has trouble deciding how to
allocate her fixed monthly salary to GOALS / NEEDS
different needs (budgeting).
She wants to pursue an MBA later, for which she needs to save up 20
She gets overwhelmed by the
lakh rupees.
amount of financial data with all of
She wants to start investing to capitalise on opportunities that her friends
the transaction messages and emails.
keep talking about, but she believes she doesn’t have enough disposable
She can’t understand how her
income to.
colleagues have the money to start
Thus, she needs to get a clear picture of her financial life, especially her
investing now.
monthly budget. But she doesn’t want to spend too much time on it the
SHREYA way her mother does.
Report customer’s needs.

Need 1 Need 3
I want to automatically know how I want to be able to interact with my
much I’m spending on things so finances in an easier way so that I
that I have a clearer picture of my Need 2 don’t have to deal with my bank’s Need 4
finances. confusing app.
I want someone to make me a I want to understand how I can free
budget so that I understand how I up money so that I can invest for my
am supposed to use my money. future needs.
Cut, through prioritisation.

01
Automated Expense 02 03
AI Personal Finance
Tracking Assistant
Automatically track all cashless Intelligent Budget AI voice assistant allowing the user to
expenses by reading notification SMSs Generation ask human language questions about
and emails, categorising and visualising their expenses, budget, and
Generate a sample budget based on
them on an easy to understand investments, and to seamlessly track
best practices after asking the user a
dashboard. cash expenses.
set of simple questions, then visualise
how much of the budget in each
category the user has consumed.
List Solutions

Detect Expenses Automatically

Parse Emails and SMS notifications to
01 automatically detect expenses, and use ML
algorithms to classify them by categories.

Visualise and Summarise

Visualise expenses into graphs for easy
02 reference, generate weekly summary reports to
track how well the user is sticking to the budget.

Add value with insights

Provide deeper insights by flagging anomalies,
such as unusually high spending in a particular
03 activity, redundant spending such as a
subscription to an OTT which comes bundled with
their broadband, provide links to track shipments
by scraping them from the relevant emails etc.

Suggest optimizations
Provide the user suggestions for potential credit
04 card discounts they missed out on, or cheaper
prices for a particular item on a different platform.
List Solutions

Initial Survey
01 Start with a quick question survey, to understand
user income, liabilities, long term financial goals,
perceived need for a budget etc.

AI Generated Budget
Use AI to generate a sample budget, within the
02 parameters gleaned from the survey, following general
rules of thumb & practices such as the 50-30-20 rule.

Visualise Progress
Visualise the users current spending against their
03 initial monthly budget, and highlight anomalous
categories to provide comparisons against other
users in the same demographics

Gamify Savings
Provide positive re-enforcement for coming in under
04 budget, visualising long term trends, & suggesting
investments for left over money every month end.

Push Notifications
Receive stock price updates for companies you spend
05 money on, prompting investment opportunities via
push notifications.
List Solutions

AI Voice Assistant
AI voice assistant, powered by an LLM with the
01 user’s minimised financial data as input, to
answer human language questions such as “How
much did I spend on groceries this month?”.

Home Screen Widget

Home screen widget to provide easy access to the
02 user’s financial life with one tap, without having to
open multiple apps.

Tuning for expense tracking.

Fine tuned LLM specifically focused on tracking
expenses and mapping them to categories based
03 on the user’s input, increasing accuracy,
reducing friction and user annoyance, and
increasing the seamlessness of the experience.

Safe investment suggestions.

LLM tuned to direct user to the relevant articles on
04 the BlinkX website if asked for specific financial
advice, instead of providing generative answers.
Evaluate trade-offs and potential pitfalls.

Privacy User Consent

As all user emails and SMSs are The user will need to provide
being parsed, privacy concerns will access to their email account, as
have to be considered. AI Safety well as to their messages.
Can be mitigated by explaining to Thus, the purpose of asking for
As an LLM based AI component is
the user how the data is being
being added as an interaction
these permissions has to be Regulatory Issues
minimised and then used, and by clearly and succintly explained to
layer, AI safety needs to be As various financial products might
obtaining relevant data safety the user. Additionally, an easy opt
considered. Safety risks can be be advertised to users of the
certifications, such as ISO 27701: out method will also need to be
mitigated by constraining the expense tracking product, potential
2019[4] and 27001:2013. provided.
model to redirect to human regulatory issues around
generated content whenever advetising for financial products
specific financial advice is asked need to be taken into account.
for, and providing disclaimers
wherever appropriate.
Summarise recommendations.

01 02 03
Product Differentiation Appeal to different segment Wealth of customer data
New age investment apps are fungible, with Younger consumers, at the start of their The data collected with the expense
largely the same asset classes, similar UX, financial journeys are more likely to require tracking and management feature could be
similar quality of research tools etc. and use a budgeting app. used to micro-target ads to each user on
Adding AI expense tracking and budgeting Marketing the automated expense and the app, based on their spending habits and
would help BlinkX Wealth differentiate, and budget management features as a core disposable income.
make the user more likely to pick it as their feature would bring in more people who
primary investment app. might not be ready to start investing yet.

04 05 06
Monetisation Potential Better Customer Retention Lifestyle Partnerships
The expense tracking feature can be Having all of their historical spending The customer data obtained could be used
monetised as a stand alone product, as well information and trends in one place would to identify possible lifestyle brand
as bundled with the the BlinkX Demat increase stickiness and reduce customer partnerships, to advertise within the app as
monthly subscription. churn. well as providing customers targeted
This would introduce a source of recurring BlinkX demat subscribers might also discounts and vouchers as an additional
revenue from the BlinkX Wealth app also, downgrade to the standalone expense benefit to their BlinkX subscription.
and it would additionally give users of the management plan of the BlinkX Wealth app,
BlinkX demat app reason to use BlinkX instead of cancelling their subscription
Wealth as their investment app for other altogether.
asset classes.
Prototypes
Prototypes
Thank You!
TEAM:
Indian School of Business (ISB)
ACHINTYA SHARMA
SHRIYA MISRA
NIKITA SAMAL
 References
1. National Stock Exchange of India. (December 21, 2023). Number of unique
investors on National Stock Exchange (NSE) of India from 2018 to 2023 (in
millions) [Graph]. In Statista. Retrieved June 02, 2024, from
https://www.statista.com/statistics/1463421/india-number-of-unique-
investors-on-nse/

2. Anarock. (September 10, 2023). Preferred type of investment based on

generation in India in the first half of 2023 [Graph]. In Statista. Retrieved June
02, 2024, from https://www.statista.com/statistics/1337841/india-
investment-priorities-by-generation/
3. CEIC. (May 14, 2024). Gross domestic savings rate in India from financial
year 2008 to 2021 [Graph]. In Statista. Retrieved June 02, 2024, from
https://www.statista.com/statistics/1013572/india-gross-domestic-savings-
rate/