Financial Management Plans for Banks Customer’s
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Financial Management Plans for Banks Customer’s
A team of FinTech specialists is to propose solution to a problem faced by one of your companies.
We are an internal Change Management Program of a bank and we found a problem:
Most financial companies cannot provide specific financial management plans for each customer’s needs. Banks usually provide long-term deposit plans, but everyone’s financial situation and short-term goals are different, so it is difficult for financial institutions to manually provide personalized service for each customer. Many people usually set short-term goals but cannot achieve them, similar to: I want to save enough money to buy a car within 6 month, but I can’t save money on schedule, so I need an app to help people realize their savings plan, spend more rationally, and avoid unnecessary expenses.
Solution: Design an app to help everyone to achieve short-term goals and rational consumption by saving money. Customers can set a short-term goal and income within three years on the app, and then the app can judge the consumption ability based on the bank flow, including utility bills and shopping records. The app will automatically customize the time period and target amount for customers based on big data, such as depositing $10,000 for a downpay for a car in 48 or 52 weeks. Then the app will automatically deduct specific money from the account every week or every day to finally achieve the short-term goal. All money deposited in the app is compensated with interest.
My request is to write this research proposal solution, which needs references to support. The solution part requires the technology of the app, rationality of the app, and whether it can fundamentally solve the problem. Explain detailed calculations and applications of specific models applied to machine learning and robo-advice would used in the app, which are similar to the technology used by Ant Financial’s Alipay. At least two graphs or tables are needed for better explanation.