Technical - User Experience and Functionality

Technical Paper

Upon signing up for Perspectify, users undergo a comprehensive profiling process to gather information about their financial situation, goals, risk tolerance, and preferences. The AI-powered platform uses this information to create a personalized financial profile for each user, serving as the foundation for tailored mentorship and advice. Users can set specific financial goals, such as saving for a down payment, paying off debt, or planning for retirement.

Perspectify assists users in breaking down these goals into achievable milestones and provides guidance on the steps needed to reach them.

2.1.2 Behavioural Analysis and Adaptation

Perspectify continuously analyses users' financial behavior, including their spending patterns, saving habits, and investment decisions. By leveraging machine learning algorithms, the platform identifies trends, potential issues, and opportunities for improvement. The AI-powered mentor adapts its guidance and recommendations based on users' evolving financial behavior and progress towards their goals. It provides personalized feedback, encouragement, and course corrections to keep users on track and motivated.

2.1.3 Contextual Guidance and Recommendations

Perspectify offers contextual guidance and recommendations based on users' specific financial situations and goals. The platform provides real-time advice on financial matters, such as:

• Budgeting and expense management

• Saving strategies and optimization

• Investment options and portfolio management

• Debt reduction and management

• Insurance and risk management

• Tax optimization and financial planning

The AI-powered mentor delivers this guidance through natural language conversations, making it easy for users to understand and act upon the recommendations.

2.2 Dynamic Interaction Features

2.2.1 Natural Language Conversations Perspectify enables users to communicate with their AI-powered mentor through natural language conversations. Users can ask questions, seek advice, and receive personalized guidance using plain English. The platform's advanced natural language processing (NLP) capabilities ensure that users can interact with their mentor in a way that feels intuitive and conversational.

2.2.3 Task Assignment and Progress Tracking

Perspectify allows the AI-powered mentor to assign specific financial tasks and challenges to users based on their goals and areas for improvement. These tasks can range from creating a budget to researching investment options or negotiating better rates on financial products. The platform provides a task management system where users can view their assigned tasks, mark them as complete, and track their progress over time. The AI-powered mentor celebrates users' accomplishments and provides feedback and guidance along the way.

2.2.4 Follow-up Messages and Reminders To keep users engaged and accountable, Perspectify sends periodic follow-up messages and reminders. These messages can include:

• Reminders to complete assigned tasks or update financial information

• Notifications about upcoming bill payments or financial deadlines

• Encouragement and motivation to stay on track with financial goals

• Personalized insights and tips based on users' recent financial activity

The frequency and content of these messages are tailored to each user's preferences and financial situation, ensuring that they receive relevant and timely support.

2.3 Financial Data Integration and Insights 2.3.1 Secure Connection to Financial Accounts

Perspectify provides a secure and seamless way for users to connect their financial accounts, including bank accounts, credit cards, investment portfolios, and loans. The platform uses industry-standard encryption and authentication protocols to ensure the confidentiality and integrity of users' financial data. By connecting their financial accounts, users enable Perspectify to access their transaction history, account balances, and other relevant financial information. This data serves as the foundation for personalized insights, analysis, and recommendations.

2.3.2 Real-time Transactions and Balance Updates

Perspectify syncs with users' connected financial accounts in real-time, providing up-to-date information on transactions, balances, and cash flow. Users can view a consolidated dashboard that displays their overall financial picture, including income, expenses, and net worth. The platform categorizes transactions automatically, allowing users to see a breakdown of their spending by category (e.g., groceries, entertainment, utilities). Users can also manually assign categories or create custom tags for better organization and analysis.

2.3.3 Spending Analysis and Budgeting Tools

Perspectify offers powerful spending analysis and budgeting tools to help users understand their financial habits and make informed decisions. The platform provides visual insights on spending patterns, highlighting areas where users may be overspending or have opportunities for savings. Users can create personalized budgets based on their income, expenses, and financial goals. Perspectify tracks users' progress against their budgets in real-time, providing alerts and recommendations to keep them on track. The AI-powered mentor offers suggestions for budget adjustments and identifies potential areas for optimization.