FinAI: Gamified Finance Learning Platform

Abstract

Financial illiteracy in India is pervasive, leading to detrimental financial decisions and outcomes. In response, we developed FinAI, a software platform designed to simplify complex financial concepts through gamification. By offering accessible courses and clear explanations, FinAI empowers users, particularly beginners, to make informed financial decisions and capitalize on market opportunities. Our study addresses a pressing need for accessible and engaging financial education, aiming to mitigate the negative effects of financial illiteracy. Through FinAI’s gamified approach, users can navigate courses and grasp complex financial terms, promoting financial literacy and enabling users to navigate the market effectively. Utilizing React.js and Node.js for frontend and backend development, Neon DB for database management, and hosting on Vercel, FinAI incorporates a chatbot named ”Finbot” powered by Bard API (Application Programming Interface) and Finhub, providing comprehensive responses to user queries. A stock pre- diction model leveraging LSTM (Long Short-Term Memory) and ARIMA (Auto-Regressive Integrated Moving Average) machine learning models, along with the yfinance live data, offers insights into future stock prices. The platform also includes a news feed feature to enhance users’ understanding of financial news and events. Through the implementation of energy points and experience points, users progress through course levels, with the option to purchase additional energy points contributing to the platform’s revenue stream. Our study revealed significant interest among young students in learning financial concepts through FinAI, with ARIMA demonstrating superior accuracy in stock prediction. FinAI represents a crucial step towards addressing financial illiteracy in India, offering an accessible, engaging, and effective means of financial education.