Finkoda - Personal Finance and Source Management Application
Overview: Finkoda is a personal finance and source management application designed to help users securely manage their financial, source, and investment details. It allows individuals to store and organize their personal financial information in one place, with high emphasis on security, privacy, and scalability.
Key Features:
Users can securely manage the following financial details:
Personal Details
Mutual Funds
Trading Account
Stock Details
Bank Account
Card Details
FD/Post Office Accounts
Loan Details
NPS Account
PPF Account
Pension Fund
Property Details
Bond Details
Vehicle Details
Gold and Other Assets
These categories cover all significant financial assets and investments a user may have.
Security & Privacy:
Encryption:
All sensitive data, including phone numbers, passwords, Aadhaar numbers, debit card details, and PAN, is encrypted using AES-256 encryption, ensuring the highest level of security.
Two-Factor Authentication (2FA):
To protect user accounts, the application uses Email OTP verification as a second layer of authentication. This ensures that even if the password is compromised, the account remains secure.
Nominee Details:
To ensure access to user data in case of the user's death or incapacity, nominee details are mandatory. The nominee will be able to access the user's data securely following a verification process. The process will ensure that only the verified nominee can recover the data.
Privacy Commitment:
Finkoda guarantees that user data will not be shared with third parties. The application adheres to strict privacy standards, ensuring that user information remains confidential at all times.
Nominee Management:
Nominee Access:
The nominee plays a crucial role in gaining access to the user's financial data after their death. A secure process will verify the nominee's identity, allowing them to retrieve the data when necessary. This feature ensures that sensitive financial details are properly transferred to the designated person, ensuring smooth and secure data access.
Nominee Details Update:
Users will be able to update or change their nominee details, ensuring the right person has access in case of an emergency.
Performance & Scalability:
Scalable Infrastructure:
Finkoda is designed to be scalable, meaning the application can grow to support more users, data, and features without compromising performance. As the app expands, additional resources and infrastructure will be added to support increasing user traffic and data volume.
Responsive Performance:
The application is optimized to handle large amounts of financial data efficiently. Users will have fast and responsive access to their data, even as their personal financial information grows over time.
Future Expansion:
The app's architecture is built to support a wide range of financial services, with potential for future integration of additional financial tools, reporting capabilities, and partnerships with financial institutions.
User Experience:
Easy-to-Use Interface:
The app provides a user-friendly and intuitive interface that makes managing finances easy for all users, regardless of their technical proficiency.
Cross-Device Compatibility:
The application is optimized for both mobile and desktop platforms, ensuring that users can access their financial information anytime, anywhere.