Finaps Business Plan

Abstract

The world has witnessed many upheavals and positive advances in every facet, which may be largely due to the uncommon ability of some creative individuals to identify complex human problems and think of a way to solve them. While the technology that facilitates the smooth coordination of society has experienced tremendous changes over the years through these individuals’ ability to solve societal problems, the development has been recognized to be particularly loud in the fintech sector. As a proactive and forward-thinking company that intends to further mitigate the difficulties of human problems, we have come to introduce Finaps. Finaps is a financial management company that will actively involved in using superb advanced technology to track and analyze financial history and projected financial future to show its app users exactly where every of their money is going daily. Finaps wants to create a smart application that will help users create a deliberate, forward-thinking spending strategy. Saving and monitoring finances manually is tough, and it’s even tougher for those with bad financial planning. It is evident that people cannot easily account for their monthly income and expenditure. This has made it very hard for a lot of people to forecast future earnings and expenditure as there are no records of how the previous earnings were spent. They always want to get financial advice to improve their income and expenditure habits and grow further. This is why we have come to introduce our app to help everyone who struggles to budget and manage finances, and those who want to better their finances long term. Our easy-to-use app will allow individuals to easily track their money (income, expenditure, goals and limits) in a single place. Finaps helps users to create a budget and customize it to their individual needs, and its goal tracking features help users monitor their progress. Using charts and a dashboard, Finaps shows its users the bigger picture on their financial side. Finaps also helps its users to forecast some periods in the future according to their historical data and habits (and other underlying metrics as well). Moreover, Finaps has a financial advisor bot where customers can get financial advice for their future according to their income and expenditure. With the advent of the Finaps app, individuals will get to learn to live daily off of their ‘True Available Balance’, achieve all of their goals, grow their savings, spend smarter, create good habits, and live more freely with the latest AI technology, tools and resources, endless tips and advice, and constant encouragement to help them achieve financial success in all areas, such as savings, spending power, future planning, pleasure, bills, expenses, and debt management. The value of the worldwide market for mobile applications was assessed to be $106.27 billion in 2018, and between 2019 and 2026, it is expected to grow at a CAGR of 18.4% to reach $407.31 billion 6 (Pramod Borasi, 2019). Through 2022, the worldwide software as a service (SaaS) industry, which was estimated to be worth roughly $134.44 billion in 2018, is anticipated to rise to $220.21 billion at a CAGR of 13.1% (Laura Wood, 2019). This indicates an impending uptick in the business, therefore we've made the decision to set up business at the confluence of these two developing sectors and offer top notch customer service that encourages efficiency and productivity in the financial budget. Finaps budget mobile application will be made available for Android and IOS users; this implies that our app, Finaps, will be available for downloads both on Apple Store and the Play Store. This, we ensure, so that no prospective user is denied the use of our application due to the type of operating system they use. An added advantage our users have is that our application is free for download, and they can easily access it any time of the day. We will ensure that our application is constantly updated to suit our users’ needs and portray innovations to be entrenched. Our team was assembled from a variety of outstanding individuals from all over the world. We will ensure that all employees of our staff, particularly mobile app developers/designers, receive the necessary training to enable them to match the goals of a company and hit the ground running from launch. At Finaps, our users' best interests come first, and our principles and ethical standards will drive all we do. We will seek consultants who have extensive expertise in a wide range of business consultancy and coaching. We intend to hold ourselves to the best standard by accurately and totally addressing the demands of our users. We will build a functioning environment that provides our partners, staff, and all app users a human, sustainable way to making a livelihood and living in our society.