BrokeNoMo

We go for broke, so you don't have to be

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Inspiration

It was recently found that nearly half of Americans have less than $500 put into savings. In an increasingly tougher economy, with so much information overload that many have no idea where to start, a simple solution is worth its weight in gold. That's where we come in. Introducing BrokeNoMo, your personal finance helper so you're broke no more.

What it does

BrokeNoMo utilizes Knowledge Graphs to get insights from different subject experts and feeds it to a voice AI agent and based on your previous transaction history helps you manage better. All you need to do is give it a call (or a text!) and watch as it gives you expert advice in real time. The sound of money - Cha-Ching (the name of our bot). Some of our primary features include:

  • Personalized Budgeting – AI-powered recommendations tailored to your income, spending habits, and financial goals. Shows you intuitive graphs so you know where you could do better
  • Real-Time Expense Tracking – Get instant feedback on spending decisions to stay on top of your finances.
  • Smart Savings Strategies – Automated suggestions to help you build an emergency fund and reach savings goals faster.
  • Debt Reduction Recs– Customized roadmaps to help you eliminate debt efficiently and sustainably.
  • Financial Literacy Boost – Bite-sized lessons from renowned books, websites and subject experts.

How we built it

We developed BrokeNoMo by integrating cutting-edge technologies, so you have a financial advisor, wherever you go. Here's a quick look at some of our features:

  • Conversational AI: Utilized Retell AI to emulate the feeling of a real conversation with a financial advisor.
  • Knowledge Graphs: Implemented Knowledge Graphs to leverage the financial know-how of pillars in the industry.
  • Secure Data Storage: Implemented NoSQL database for secure data modeling
  • Admin Dashboard: Built with React.js, Tailwind CSS, ShadCN UI, and V0 to provide a robust interface for system management, transaction monitoring, and user support.
  • Telephony Integration: Employed Retell API for handling voice calls and processing voice recognition.
  • Msg2AI.xyz - For AI assistant at the tips of your fingertips. Just give us a text.

Challenges we ran into

We were off to a pretty good start, but hit a roadblock when our voice agent would kept breaking up. This was due to issues with the fetching of relevant data using Retrieval Augmentation Method (RAG). After 4 hours of work, we pivoted to Knowledge Graph instead, as the ReTell platform had direct integrations. The constant handling of webhooks for chunks of data and storing it in database became yet another issue. Then, issues with the connecting of the backend to the frontend arose, as it was having trouble handling webhooks, thus forcing us to go back and use API endpoints in addition to webhooks. We were afraid of using Msg2AI for these very reasons, being another integration, but to our surprise, it was quite straightforward! (Special thanks to Bruno!! :D ).

Accomplishments that we're proud of

  • Building an AI agent what people can actually use within 36 hours. Learning about VoIP services and developing a responsive website.
  • 3 total hours of sleep each, and enough caffeine to kill a small animal

What we learned

  • How to leverage the power of Conversational AI - AI has become commonplace, and using ReTell has given us insight into the inner workings of a technology oft shrouded in mystery.
  • Financial education is essential – Many people struggle with budgeting simply because they don’t know where to start. AI can bridge this gap.
  • Security is non-negotiable – When dealing with financial data, encryption and best security practices must be a top priority.
  • Microeconomics – We learned how small economic shifts impact individual financial decisions, then integrated those insights into our model.
  • How to resolve (many) merge issues - With collaboration between teammates, some sections will always overlap, and resolving that amalgamation is not easy...

What's next for BrokeNoMo

BrokeNoMo is just getting started! Here’s what’s next on our roadmap:

  • Broaden user input - By expanding the financial information the user can provide, the AI will be able to provide more tailored insight
  • Building a mobile app – Currently, BrokeNoMo is web-based, but we plan to develop a dedicated iOS and Android app.
  • Advanced Predictive Analytics – Using AI to forecast potential financial pitfalls and offer preemptive solutions.
  • Multi-language support – Expanding accessibility for non-English speakers.
  • Advanced Searching - We want your conversations to be a wealth of knowledge always at your disposal for whatever financial situation you find yourself in.

BrokeNoMo isn’t just an AI tool—it’s a movement toward financial empowerment for the masses. The future of budgeting is here, and it's smarter than ever!

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