I am back with something new in Fintech
Hey guys, I am the founder of Pocket.
As you all know I failed to raise any capital for Pocket and even so failed to launch the product. So I tried different things and finally stumbled upon a new idea. Now I am trying to do something different, Fintech + AI.
I feel there is a complete abundance of Fintech AI tools in the B2B Saas space but not so much done for the consumer space. So I started working on project-hermes, it's a personal financial advisor designed to understand your bank statements and credit reports with ease and intelligence.
🤖 What makes Project Hermes unique?
- AI-powered insights: Get smart, tailored advice on your financial health.
- Easy to use: Just upload your documents and let Hermes do the rest!
- Secure and private: Your data's safety is our top priority.
🌐 It's still in beta, and I would love your feedback to make it even better. Give it a try and see how it can transform your financial management experience.
Check it out here: https://project-hermes-ai.vercel.app/
Talking product sense with Ridhi
9 min AI interview5 questions
Hey @SuperSaiyanGoku Love your attitude! Keep growing!!
Does Hermes also help me with Taxations?
Working on that! As more people use the product the better it gets. There are a lot of errors now but let’s see.
Thank you for your love ❤️
Super Saiyan Goku can never stop 🗿
You can use prosper.io for taxation. It charges very less amount (4.5k/yr)and help in every part of tax. I literally don't have to do anything apart from filling the data on company portal.
Haven't tried it yet. But here's an advice, uploading documents is time consuming for consumers so you will face churn here. Also OCR will be a PITA to do because of different formats of different banks. Have you heard of Account Aggregator framework? It solves all these problems for you. We do a lot of work around it. Check here:https://setu.co/data/financial-data-apis/account-aggregator/ Also read the AA Playbook. Thanks.
I tried to get the licenses for FIU, couldn’t raise the money for that. I know the founder of Setu personally, have been to your office multiple times.
There are a lot of things that has happened so not going to comment but it was a heart breaking experience for an entire year.
Sahil or Nikhil? Damn you've been to office too. Nice.
Bro lot of error notifications coming after uploading the doc. And it's just like chatgpt. What else you did new?
I am working adding a OCR to convert the pdf to a json format, reduce noise, better fine-tuning so it can understand spends like Swiggy, Zomato & Amazon and also to create graphs and charts…
If you are facing errors just type “try again”, hope that will work. I will keep improving. Let me know if it works
I have tried this. But it's too complicated. I was not able to read bank statement format. I tried python also OCR also. And every Bank has different format. So it's not scalable so you have to handle differently. I didn't find it worthy enough so left in between.
Privacy concerns?
I can’t even see any user logs.
All documents are protected and can’t be downloaded once uploaded. User threads, chat history are deleted in 7 days for now.
But please tell me your concerns…
Can’t see user logs — matter of 1 deployment.
Giving away my financial records to a third party is definitely an uneasy thing.
On prem setups such as — users download an exe and talk to their bot is a better bet
What all data did you use training the model.
In the backend are you calling openai?
@Learningmind yes but I am trying to build & train it on various bank and financial docs to fine-tune it. A lot of more tech is included than OpenAI and more in process
Can you please let me know where are you leaning AI models or LLM from? I also wanted to get hands on experience. Is there any free resources available? Any YouTube channel for hands on coding for AI regarding training models and all
I sometimes work for big banks for different Risk and analytics solutions.
And all of their risk department guys would hunt me down if I said we should expose bank statements and credit reports to a foundation model.
I see the benefits of it but I would personally make more effort myself about my financials then expose it to a blackbox over APIs I don't trust.
True but as I said all data will be deleted in 7 days. You can delete the documents directly also from the app. The backend is build not to even show the documents to us… but still it is up to you.
Most importantly I am not thinking about switching my career to spam caller for now otherwise I will let you all know 😂
Good that you are building something the reason why no one else is building fintech+ AI is there is money involved and AI cant be held responsible if something wrong thats the reason no one combining AI+Fintech
All the best though
I don’t believe this. If you are trying to understand spending behaviour, credit analysis or anomalies detection what can go wrong?
So many things that can be done companies are just unimaginative and lazy now
Not really talk to any fintech founder you will know the truth everyone us okay with AI as long as money and life involved in decision making
Got to appreciate your zeal to build 🔥
Inspiring to say the least.
Are you putting this up on Product Hunt at some point? Or is it still an early beta?
You could get great feedback there too. Otherwise a closed cohort of users from GV also should be great.
I will list it on product hunt but for now I don’t have much budget to handle many users. Waiting to get some OpenAI credits then will go full on.
For now it’s just early beta launch. More to come ❤️
