MUMBAI, India, Oct. 5 -- Intellectual Property India has published a patent application (202611101844 A) filed by Manipal University Jaipur on August 24, 2026, for Finsmart : A Finance Management Web-Application And Chat-Bot.
Inventors include Shivansh Pradhan; and Dr. Shikha Mundra.
The application for the patent was published on October 02, 2026, under issue no. 40/2026.
Abstract: The present invention relates to FinSmart, an AI-enabled web-based personal finance management platform developed to simplify financial tracking, analysis, and decision-making. The system integrates multiple methods of transaction input, including manual entry, natural-language text, and bill or receipt images. Tesseract Optical Character Recognition (OCR) extracts textual information from uploaded financial documents, while the Gemini model processes and categorizes the extracted transaction data. The platform further incorporates Retrieval-Augmented Generation (RAG) to provide an AI-powered chatbot with access to user-specific financial information, enabling context-aware and personalized financial suggestions based on individual spending patterns. FinSmart also analyzes income and expenditure data to identify financial trends, spending behavior, and budget utilization, presenting the results through interactive graphical visualizations. By combining automated transaction extraction, artificial intelligence, personalized conversational assistance, and financial analytics within a unified platform, FinSmart reduces manual data- entry requirements and provides users with a clearer understanding of their financial behavior. The system offers an integrated and scalable approach to personal finance management, supporting users in making more informed budgeting and spending decisions.
Disclaimer: Curated by HT Syndication.
