For Developers: Build Smart Dashboard

This use case is for developers to build a customized dashboard solution that gives a complete financial overview of a user’s current financial situation. This can be built for multiple niche markets, such as traders, landlords, contractors and retailers.

Given that this dashboard is customized to the user, the user will have everything they need in one place which makes it scalable, adaptable and allows for more efficient user acquisition.

An integrated smart dashboard that provides live data by utilizing the CRD infrastructure and PSD2 technology, which can then be copied and slightly adjusted for different niche markets.

People often already share their data with an ID service through open banking. In the trader example, If the user shared their data to an ID service then their KYC (Know Your Client) and AML (Anti Money Laundering) data can be processed via that portal so the system knows who the user is. From there the user needs to give access to their various bank accounts and trading platforms that they want to track. The system is only accurate if it has all the available data, otherwise, tax returns would not work (though there could be a field to add data manually as well).

Once the platform has permission to the various accounts, this would need to be fed into an accounting module, and the data would be displayed to the user either live or upon request of a report. This way, the user can make informed decisions every moment, do their full tax returns at the end of the year and view their live borrowing/lending profile.

This is not a solution that banks themselves will put much time into, but they most likely will support FinTechs that are providing this niche service.