Inspiration

As college students, budget constraints have always been a reality we have to face. Not a day goes by without borrowing or lending money to your friends. In such a context, Splitwise has become an integral part of campus life. Fampay, as we all know, is the neobank for GenZ students. Our idea aims to unlock the true potential of Fampay by integrating it with Splitwise, making it the ultimate e-wallet for GenZ students.

What it does

  1. College students can now lend and borrow money with their peers in an organized fashion, keeping an account of their balances on Fampay.
  2. It adds a fun gamified element in the form of a spinning wheel. The one whose name pops pays for the treat!
  3. Provides a peer-to-peer lending delinquency predictor so that you can now find out who is never going to pay you back :)

How we built it

  1. The backbone of the website is made with the Django framework.
  2. We integrated it with open-source Splitwise APIs.
  3. A randomizer was also made in the form of a wheel using the view functions and rendering HTML files.

Challenges we ran into

  1. Understanding the documentation and fetching the API's of Splitwise was a task to do as we were new to it.
  2. The HTML and CSS of spinning wheel was quite hectic and took great time to build.
  3. An appropriate dataset to train the data was challenging to find.

Accomplishments that we're proud of

  1. The time limit was a challenge, and we are proud to build the website in just 48 hours.
  2. Not giving up despite the challenges.

What's next for Paymate

  1. We plan to add fun stats about friends, which will make it a more fun experience in group payments.
  2. Plan to use our model as an API integrated on the Fampay app, which utilizes data from Fampay and Splitwise to make predictions on peer-to-peer lending delinquencies and to display a so-called credit score in a gamified fashion.

Contributions

Thanks to Cognizance team, IIT Roorkee for organizing the hackathon.

  • PrakharMundra
  • adityadeshpande04
  • nishant-singh4
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