Personal Finance webservices

Web services are available as individual components, and can also be delivered as a turnkey system. These services are now accessed daily by hundreds or even thousands of consumers, demonstrating their value, good performance and popularity. There are many possible variations to consider on integrating this software. Our previous experience on innumerable projects, secure a very solid foundation. Some examples of services are:

1. Conversion (parse) of all sorts of data files

 Although  standards have been agreed.  Dutch and Belgian banks still have different formats for downloading bank transactions. In the Netherlands there are almost 30 different file types. This service converts all file types to a standard format.

2. Automatically assigning categories and relationships

Invers developed an algorithm to recognize and categorize automatically some 85% of all consumer payments after import. This is a self-learning system that improves the results with every  transaction. Another unique feature is that consumers can influence this proces.

3. Comparison Service

After the classification of  expenses, comes the  time to do something with the information now available. This service enables consumers to compare their spending patterns to national averages. To do this, It uses the Nibud references.  And calculates totals and averages.

4. Budget, Balance Prognosis and Savings Targets

Looking back to the past provides insight, but it is better to look forward.  The system calculates "Budgets" based on "past performance" and outlines future expenditure possibilities.  The customer will be alerted when the current pattern does not match the projected budget.

5. Report Generator

Gives reports for each month, by category and for each account.  The report generator can give output in various formats. Technically the sky is the limit but what the end-user really needs should be leading. Invers can advise in this field as well.

Experience shows that 90% of the requirements for Personal Financial Planning systems can be generated using standardized web based services. Yet some 10% needs individualized attention. Particularly if you opt for a turnkey solution where Invers provides a full working system. The Invers system can provide adjustments to data exchange and to the User Interface.  Agreements on security, responsibility, uptime and performance are also important. To ensure a successful launch of your project Invers uses only experienced project managers.