Indian financial management firm Fi Money is enhancing users’ understanding of their overall net worth by allowing them to photograph physical assets for instant valuation.
Traditional finance apps often concentrate on bank accounts and mutual funds, neglecting significant components of personal wealth, such as physical or non-traditional assets. With the innovative ‘Magic Lens’ feature, users can simply snap a photo or screenshot, enabling artificial intelligence to identify and appraise a wide array of items, including gold jewelry, collectibles, cryptocurrency, employee stock options (ESOPs), and vehicles. This technology provides users with an accurate assessment of their net worth.
The AI feature instantly determines the asset type and offers an estimated value, taking into account factors such as condition and depreciation. Users retain the ability to edit or confirm these valuations before integrating them into a comprehensive financial dashboard.
Sujith Narayanan, co-founder of Fi Money, expresses, “At Fi Money, we believe that wealth management should be seamless. Yet, for many, digital financial dashboards only depict part of the entire narrative. Magic Lens revolutionizes this process, allowing users to capture and evaluate everything—from family heirlooms to crypto holdings—within a single secure interface. It’s about acknowledging that true ownership extends beyond mere bank balances and investments, offering users a holistic view of their financial landscape.”