Guru Financex - Amazon S3

fullfattruckMobile - Wireless

Dec 10, 2013 (3 years and 10 months ago)

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1

Guru Finance


Enad Faraj & Shannon Losch



enadfaraj@gmail.com





App Name

Guru Finance

Concept/Idea App Description

Guru Finance is a customizable
a
pp t
hat
enable
s

users an
encompassing
avenue
to smart
personal
finance
management
, saving and
investing.

Guru Finance cha
nnel
s

the cornucopia of
on
-
line finance data to cater to
users’
individual personal finance needs.


Guru Finance utilizes a
personalized
smart
budget focal point

and
user

access
to
personal finance
checking, savings and investment accounts
enabling
active mobile banking and
a summary view of
their financial position.

Users
can navigate the app to determine optimal savings, applicable
discounts and deals and investment scenarios, enga
ging users to actively alter and view impact to
present and future value financial status.

App Innovation and New Contribution to Marketplace

Guru Finance

facilitates a web of finance accessibility to provide users with the
ir

current financial
status and offers functionality to assist users in managing
financial activities.

Guru Finance

is
one
-
stop shop app providing users
access
to

viewing and managing

checking, saving and investments
accounts
. The
smart budget tool

function

a
ssists users to
manag
e
spending and saving

choices

and achieve customizable goals. Guru Finance provides summaries of users’ present value,
net
asset value

and potential future value; offering
customizable
time based
finance filter
s.

Guru
Finance
is
al
l
-
in
-
one personal
finance
manage
r that assists users in their micro level
spending and
saving
decisions and summarizes their macro level
financial position.

2

Guru Finance


Enad Faraj & Shannon Losch



enadfaraj@gmail.com


App P
romot
ion of F
inancial
C
apab
ility and/or Financial Access

Guru Finance impacts consumers by providing an easy avenue to be actively engaged in their
personal finance activities. The user
is provided financial capability and access by being in

control
of their personal spending, savings and investing decisions

th
rough
a smart budget tool,
mobile
banking,
present and future value views,
investment outlay,
rewards tracking

and
receipt organ
izer

with
pending reimbursements
.

Guru Finance provides a
smart budget

feature that
u
ser
s

customize by entering their time based
budget and personal savings and purchasing goals. The app
’s
functionality

offer
s
users guidance
on obtaining discounts and deals to enhance their savings and
a
chieve their goals. The app has a
unique map function t
o locate discounts and special deals applicable to the user’s customized
budget. The savings that the user obtains can be allocated to their savings account or applied
toward their customized purchasing goals. The smart budget feature is intended to be t
he user

s
finance guru,
empowering
user
s to
be in micro level control of their budget, spending and savings.


The
mobile b
anking

feature

offers a
t a glance summaries and dashboards of account activities

with detailed

feature
s:



Full access to personal
banking accounts; checking, savings, investments, etc.




Advanced capability to bill p
ay

and make
transfers and electronic check payments.



A
bility to make deposits by capturing check images through device camera.

Guru Finance provides
a
present value

scree
n to enable the user to be aware of their current
financial position
.
The present value option will function by being linked to all personal banking
accounts, investments, pending
rewards and pending
reimbursements
.
The present value

field

acts as a balance sheet providing the user with
an aggregation of
their current financial position.

Banking Data:
All
personal checking and savings accounts

are summed to roll up to the
present value field.

3

Guru Finance


Enad Faraj & Shannon Losch



enadfaraj@gmail.com


Investments:

G
uru Finance is linked to users


tangible
assets (
home, land, automobiles,
and miscellaneous resources)

and liabilities (home mortgage, automobile loans
,
college
payments

and miscellaneous debts
) and provides

a delta to be linked to the present value
field.


All securities’
(stocks, bon
ds, notes, CDs, etc
.
)
and retirement accounts
(401K, IRA,
etc.)
are
summed to roll up to the present value field.

Tangible Assets:
The tangible assets portion for the app offers the specific details of
value (home, automobile, land, etc.) that are rolled
into the investment portion of the
app. Guru Finance provides additional functionality to link each

of

these assets to
online sources for up to date value at any point in time.

Liabilities:
The loans portion for the app offers the specific details of all
loans
(mortgages, automobiles, college, etc.) that are rolled into the investment portion of
the app. Guru Finance provides additional functionality to link each
of
these debts to
online sources to provide lower interest rates, calculate new loan and prov
ide
savings.

Rewards
:

Guru Finance is linked to users’ awards accounts (airlines, hotels, credit cards,
etc.) and is summed to roll up to the present value field.

Receipt Organizer/Pending Reimbursements:
Guru Finance provides users with a
n

option to organize receipts into their appropriate customizable categories (expense report,
tax deductible, misc
ellaneous
) by
uploading
a picture of the receipt. The app will maintain
track of the receipts to be reimbursed and is summed to roll up to the

present value field.

Guru Finance provides

a
future value

screen to enable the user
s through
scenarios

to
forecast

future value

financial positions.
The
future
value option will function by being linked
to all personal
4

Guru Finance


Enad Faraj & Shannon Losch



enadfaraj@gmail.com


banking, securities’ and retirement

accounts. The user is able to alter scenarios of interest rates
and investment strategies to calculate potential future value. Additional functionality is offered by a
time value of money icon

to calculate various finance scenarios. For example, a user

would like to
know how much he should save monthly, for how many years,
with

a
particular interest rate, to
save a
designated amount

of money by a future date
,

and is
computed by the time value of money
payment option.

With advances in technology and acc
ess to data, it is envisioned that Guru
Finance will provide users with future benefit calculations, such as social security estimates.


Feasibility of
C
reating the
A
pp

Guru Finance

is feasible and able to be implemented with current available technology. The app
build
can be implemented
on the iOS and Android OS devices. The
a
pp uses the device’s
operation system to calculate and display user results. Guru Finance will extract data

from
available
on
-
line sources to access user personal banking accounts,
investment

accounts, assets


values
,
liability
data and

map functions
through few servers’ calls.
App Functionality:

Functionality

Resource

Banking

The
app

will extract user Bank accounts data through a
service call
.

Present Value

Calculation within the
app.

Future Value

Calculation within the
app.

Smart Budget

Calculation within the
app.

Investment

Calculation within the
app.

Device o
peration system
.

Service call to user investments accounts if applicable
.

Loans

Service call
to

user credit cards account to extract loans
amounts and interest rates if available.

Calculation within the
app.

Rewards



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Map

The app will use the device
map to locate the user location.

The app relies on web resources available (Google,
Groupon

and Social

Living) for discounts and special deals
.

Receipts
Organizer

Uses the camera ph
one shutter and saves the receipt on
the device using its current memory
.

5

Guru Finance


Enad Faraj & Shannon Losch



enadfaraj@gmail.com


Potential for
App
S
ustainability


The demand for
mobile applications is booming.
Consumers
continue to profess,

I just
downloaded the

newest a
pp
,
enter
ed

my data and
am
now track
ing

my
choices
and know wha
t
was impacting me positively and negatively
.


Similar quotes are
regularly
echoed through office
chatter
as users enlist in the new trend of self
-
help app

download.

Guru Finance App will attract
users by empowering them to take charge and become the guru of their own personal
f
inances.

By

implementing
seamless

navigation and a
familiar
user interface

Guru Finance will
maintain
users
.
The app can be designed with a display screen that has standard icons and buttons
allowing users to easily adapt and alleviate any feeling of
being bogged down
.
In today’s time of
ever changing technology, users needs frequently fluctuate
. The app is
desi
gned for adaptation as
new services and customization can be easily implemented.

The app offers an enduring business
model as it s
tands apart in the
thousands
of app offerings by providing users a sincere solution
and long term
real
value
.
Guru
Finance

w
ill be the
all
-
in
-
one

app
for personal finance tracking,
managing and decision making.