FinSafe | Devpost

Inspiration

We took inspiration from Morgans Stanley's WING initiative with sends notifications to users after money is transferred or withdrawn from their accounts. After one of our family member's credit cards was stolen, they immediately panicked and wanted to cancel all their cards. We tried to come up with a product that would make our credit card transactions more secure so that this wouldn't happen.

What it does

When a transaction exceeds the user's specified limit, FinSafe will prompt a (push) notification to verify whether or not the user wants to allow the transaction. This enables a two-step authentication factor for transactions over a specific amount, ensuring the security of your credit card, and giving you some peace of mind.

How we built it

We used the model-view-controller method in Java to develop a user interface that asks the user to set their preferences for their account. We used Java to write and run our program.

Challenges we ran into

Credit card transactions are canceled/invalid if not completed within 30 seconds. Receiving the notification and approving the transaction can become a lengthy process One possible solution for this would be to block the first transaction attempt so the user can pre-approve the second attempt. The second attempt for the same amount from the same vendor would go through because it was already approved. In addition to this, constant notifications can become annoying. This is why we decided to implement a transaction limit, and if the purchase crosses that limit, only then a notification will be sent out. In addition to this, we learned that in order to send notifications to iOS and Android devices, we would need authorization from each company, which we do not currently have. We want to work towards getting this so we can use it for our product.

Accomplishments that we're proud of

Coming into this Hackathon, all of our team members were unsure of what to do because this is our first Hackathon. We are very proud of the fact that we were able to come up with an idea and try to figure out a way to implement it, even if it isn't to the full extent

What we learned

We learned how to design user interfaces and how they can be applied to real-life scenarios. We learned the model-view-controller method to help implement our idea.