Description:FIELD OF INVENTION
[001] The present invention relates to a system and method for providing financial services based on user data. Specifically, the present invention relates to the combining of the health and financial data of the user to assess risk, incentivize healthy behaviors and improve overall financial outcomes.

BACKGROUND OF THE INVENTION
[002] Traditional financial services, such as loans, insurance, and investment opportunities, often overlook a critical aspect of an individual's overall stability and risk: their health status. Existing financial models do not adequately incorporate health data into the decision-making processes, missing out on a vital indicator of personal stability. The gap results in limited consideration of health factors, thereby failing to incentivize and reward healthy behaviors that could lead to better financial outcomes.
[003] Moreover, individuals with good health but poor or limited financial histories face significant challenges in accessing favorable financial products. There is struggle to obtain loans, insurance, and investment opportunities on beneficial terms, despite the potential for financial stability bolstered by the health. This disconnect highlights a critical need for an innovative solution that integrates health data into financial services. By recognizing and incorporating health data, financial services better assesses risk and reward healthy behaviors, ultimately leading to more favorable financial outcomes for individuals.
[004] The patent application US8583523B2 titled “Method and system for providing financial services” discloses a method and system for providing financial services are described. The method and system include receiving financial information. The financial information includes financial transaction(s) of a user. The method and system also include determining financial advice based on the financial information. The financial advice indicates a change corresponding to the financial transaction(s). The method and system further include displaying the financial advice to the user.
[005] The patent application US20060020530A1 titled “Systems for providing financial services” discloses an intranet system for a financial service corporation. The present invention also provides a browser interface for financial services. The interface comprise a toolbar; a task menu wherein each task is associated with a number of financial applications; an object menu associated with each task which provides a link to each financial application; and an action menu for presenting one or more actions specific to a user-selected financial application. The task menu is always present on the browser interface and the object and action menus vary depending upon the options selected. The financial applications include market monitoring functions, portfolio reviews, model balancing, and automated trading.
[006] The above described patent has disadvantage that it does not provide scoring system that evaluates an individual’s health metrics to generate a health credit score, which determines eligibility and terms for financial products, rewarding healthier individuals with better options. The incentivized health programs offer lower interest rates, higher savings yields, and other financial benefits for users who maintain or improve their health metrics, encouraging regular engagement. The personalized insurance plans is designed based on individual health profiles, providing healthier users with lower premiums and better coverage options.
[007] In order to overcome the problem associated with the state of arts, there is a need for the development of a system that overcomes the aforesaid limitations in a more efficient manner.

OBJECTIVE OF THE INVENTION
[008] The primary objective of the present invention is to provide a system that evaluates users’ health metrics to generate a health credit score.
[009] Yet another objective of the present invention is to provide eligibility and terms for financial products based on combined health and financial data.
[0010] Another objective of the present invention is to reward healthier users with better financial benefits.
[0011] Yet another objective of the present is to design personalized insurance plans based on users’ health profiles, providing lower premiums and better coverage options.
[0012] Another objective of the present invention is to provide users with a comprehensive dashboard to monitor the health metrics and financial health simultaneously.
[0013] Yet another objective of the present invention is to offer personalized recommendations to users based on the combined health and financial data.
[0014] Other objective of the present invention is to provide a holistic approach to wellness, incentivizing healthy behaviours and enhancing both physical and financial well-being.

BRIEF DESCRIPTION OF DRAWINGS
[0015] The present invention will be better understood after reading the following detailed description of the presently preferred aspects thereof with reference to the appended drawings, in which the features, other aspects and advantages of certain exemplary embodiments of the invention will be more apparent from the accompanying drawing in which:
[0016] Figure 1 illustrates an architecture of the system of providing financial services.
[0017] Figure 2 illustrates a flowchart of the method of providing financial services.

SUMMARY OF THE INVENTION
[0018] The present invention relates to a system for providing financial services based on user data. The system for providing financial services based on user data comprises a plurality of communication devices, a user interface installed on the communication devices, a server having a database for storing a plurality of users data, wirelessly connected to the communication devices. Further, the server comprises a data extraction module, a data processing module, an output interface and a feedback module for accepting feedback from the users for continuous improvement of the evaluated score. Furthermore, the data extraction module extracts one or more predefined data from the input received by the communication devices of the users. Additionally, the data processing module evaluates a score based on the extracted data and the output interface suggests financial products to the users based on the evaluated score. Lastly, the feedback module accepts feedback from the users for continuous improvement of the evaluated score.
[0019] The present invention also provides a method for providing financial services based on user data. The method comprising steps of: receiving, from the plurality of users, input including health and financial data of the users, extracting meaningful keywords from the input using the data extraction module, evaluating the extracted data using the data processing module, generating a score based on the evaluated data of the users to determine eligibility and terms for financial products, providing specific and actionable feedback received from the users for continuous improvement of the evaluated scores so as to provide efficient and better financial benefits to the users, thereby promoting a holistic approach to wellness, incentivizing healthy behaviors and enhancing both physical and financial well-being, creating a positive cycle of overall personal wellness.

DETAILED DESCRIPTION OF INVENTION
[0020] The following detailed description and embodiments set forth herein below are merely exemplary out of the wide variety and arrangement of instructions which can be employed with the present invention. The present invention may be embodied in other specific forms without departing from the spirit or essential characteristics thereof. All the features disclosed in this specification may be replaced by similar other or alternative features performing similar or same or equivalent purposes. Thus, unless expressly stated otherwise, they all are within the scope of the present invention.
[0021] Accordingly, those of ordinary skill in the art will recognize that various changes and modifications of the embodiments described herein can be made without departing from the scope of the invention. In addition, descriptions of well-known functions and constructions are omitted for clarity and conciseness.
[0022] The terms and words used in the following description and claims are not limited to the bibliographical meanings but are merely used to enable a clear and consistent understanding of the invention. Accordingly, it should be apparent to those skilled in the art that the following description of exemplary embodiments of the present invention are provided for illustration purpose only and not for the purpose of limiting the invention.
[0023] It is to be understood that the singular forms “a,” “an,” and “the” include plural referents unless the context clearly dictates otherwise.
[0024] It should be emphasized that the term “comprises/comprising” when used in this specification is taken to specify the presence of stated features, integers, steps, or components but does not preclude the presence or addition of one or more other features, integers, steps, components, or groups thereof.
[0025] Accordingly, the present invention relates to a system and method for providing financial services based on user data. Specifically, the present invention relates to the combining of the health and financial data of the user to assess risk, incentivize healthy behaviors and improve overall financial outcomes.
[0026] In a preferred embodiment of the present invention, a system (100) for providing financial services based on user data comprises a plurality of communication devices (102), a user interface (104) installed on the communication devices (102), a server (106) having a database (108) for storing a plurality of users data, wirelessly connected to the communication devices (102). Further, the server (106) comprises a data extraction module (110) for extracting one or more predefined data from the input received by the communication devices (102) of the users, a data processing module (112) for evaluating a score based on the extracted data, an output interface (114) for suggesting financial products to the users based on the evaluated score and a feedback module (116) for accepting feedback from the users for continuous improvement of the evaluated score.
[0027] The communication devices (102) enable a user to establish communication with other user. Further, the communication device (102) enable users to access internet and perform multiple task through the user interface (104) installed on the communication device (102). In an exemplary embodiment, the handheld device (102) may be such as, but not limited to, smart phones, laptops, tablets, phablets and the like.
[0028] The user interface (104) enables the users to interact with the communication device (102). The user interface (104) defines how the user interacts with the communication device (102), featuring an easy-to-navigate dashboard that displays key health and financial metrics at a glance, there is use of charts, graphs, and other visual tools to help users understand the data easily. The user interface (104) is accessible through one or more web based portal and receives inputs from the user through the communication devices (102) for authentication and security data login credentials: encrypted storage of usernames and passwords for secure access, authentication tokens: tokens generated during user sessions to maintain secure access, and access logs: records of user logins and actions within the platform for security and audit purposes. In an exemplary embodiment of the present invention, the user interface (104) may be such as, but not limited to, a social media application, banking applications, OTT applications, and the alike.
[0029] The server (106) is a system providing resources, data, services or programs to the user. The server (106) works as a central hub for data communication. The server (106) is connected wirelessly to the communication device (102). The server (106) stores a variety of data to facilitate the combination of health and financial services, ensuring a comprehensive and secure management system. The server (106) is having a database (108) for storing a plurality of users’ data. The database (108) ensures data encryption and privacy compliance for ensuring all personal, health, and financial data are securely encrypted and strict data protection regulations like GDPR and HIPAA to protect user privacy are adhered.
[0030] The server (106) may further comprise a data extraction module (110). The data extraction module (110) works on the algorithm to extract the collected data from the users. The data extraction module (110) extracts one or more pre-defined data from the input received by the communication devices (102) of the users. In an exemplary embodiment the pre-defined data may include, but not limited to, the user personal information like name, date of birth, gender, contact information, health data like vital signs, physical activity data, health scores, financial data like credit score, income information, loan and insurance details, authentication and security data like login credentials, authentication tokens, access logs, application programming interface (API) data like external health data, financial services API and the like.
[0031] The data processing module (112) processes the pre-defined data input form the users for evaluating a score based on the extracted data. A scoring system evaluates the users’ health metrics to generate a health credit score, which determines eligibility and terms for financial products, rewarding healthier users with better options. The data processing module (112) processes health and financial data received from include, but not limited to, wearable devices, medical records and income information of the user.
[0032] The output interface (114) enables the users for being suggested the financial products based on the evaluated score. The users get the notifications and alerts based on the evaluated score. The notifications include, but not limited to, health-based financial products and incentive programs that tailors loans, insurance, and investment opportunities based on users’ health metrics and rewards healthy behaviors with better financial terms and products, encouraging users to maintain good health.
[0033] The feedback module (116) is installed on the server (106) for accepting feedback from the users for continuous improvement of the evaluated score. Through the combined health and finance dashboard, the users monitor the health metrics and financial health simultaneously, receiving actionable insights and personalized recommendations. By integrating health data into the financial ecosystem, a holistic approach to wellness, incentivizing healthy behaviors and enhancing both physical and financial well-being is promoted, creating a positive cycle of overall wellness.
[0034] Further, the communication devices (102), the user interface (104) and the server (106) of the system (100) communicate with each other via one or more network including wired and wireless network. The network is selected from, but not limited to, intranet, local area network (LAN), wide area network (WAN), the internet, Hypertext Transfer Protocol (HTTP), Transmission Control Protocol/Internet Protocol (TCP/IP), Wireless Application Protocol (WAP).
[0035] In an embodiment, as shown in Figure 2, the present invention also provides a method for providing financial services based on user data comprises the following steps:-
• receiving, from the plurality of users, input including health and financial data of the users;
• extracting meaningful keywords from the input using the data extraction module (110);
• evaluating the extracted data using the data processing module (112);
• generating a score based on the evaluated data of the users to determine eligibility and terms for financial products; and
• providing specific and actionable feedback received from the users for continuous improvement of the evaluated scores.
[0036] In an embodiment the advantages of the present invention are enlisted herein:
i. The present invention provides a system that evaluates users’ health metrics to generate a health credit score.
ii. The present invention provides eligibility and terms for financial products based on combined health and financial data.
iii. The present invention provides reward to healthier users with better financial benefits.
iv. The present invention provides personalized insurance plans based on users’ health profiles, providing lower premiums and better coverage options.
v. The present invention provides users with a comprehensive dashboard to monitor the health metrics and financial health simultaneously.
vi. The present invention offers personalized recommendations to users based on the combined health and financial data.
vii. The present invention provides a holistic approach to wellness, incentivizing healthy behaviours and enhancing both physical and financial well-being.
[0037] While this invention has been described in connection with what is presently considered to be the most practical and preferred embodiment, it is to be understood that the invention is not limited to the disclosed embodiments, but, on the contrary, is intended to cover various modifications and equivalent arrangements included within the scope of the appended claims.
, Claims:1. A system (100) for providing financial services based on user data, comprising:
a) a plurality of communication devices (102);
b) a user interface (104) installed on the communication devices (102);
c) a server (106) having a database (108) for storing a plurality of users data, wirelessly connected to the communication devices (102);
wherein,
the server (106) comprising:
• a data extraction module (110) for extracting one or more predefined data from the input received by the communication devices (102) of the users;
• a data processing module (112) for evaluating a score based on the extracted data;
• an output interface (114) for suggesting financial products to the users based on the evaluated score; and
• a feedback module (116) for accepting feedback from the users for continuous improvement of the evaluated score.
2. The system (100) as claimed in claim 1, wherein the user interface (104) is accessible through one or more web based portal and receives inputs from the user through the communication devices (102).
3. The system (100) as claimed in claim 1, wherein the predefined data include, not limited to, user personal information, health data, financial data, authentication and security data, application programming interface (API) data .
4. The system (100) as claimed in claim 1, wherein the data processing module (112) processes health and financial data received from include, not limited to, wearable devices, medical records and income information of the user.
5. The system (100) as claimed in claim 1, wherein the communication devices (102), the user interface (104) and the server (106) of the system (100) communicate with each other via one or more network including wired and wireless network.
6. The system (100) as claimed in claim 1, wherein the network is selected from, not limited to, intranet, local area network (LAN), wide area network (WAN), the internet, Hypertext Transfer Protocol (HTTP), Transmission Control Protocol/Internet Protocol (TCP/IP), Wireless Application Protocol (WAP).
7. A method for providing financial services based on user data, comprising steps of:
a) receiving input from the plurality of users including health and financial data of the users;
b) extracting meaningful keywords from the input using the data extraction module (110);
c) evaluating the extracted data using the data processing module (112);
d) generating a score based on the evaluated data of the users to determine eligibility and terms for financial products;
e) providing specific and actionable feedback received from the users for continuous improvement of the evaluated scores.
8. The method as claimed in claim 7, wherein the health and financial data are received from the wearable device, medical records and income information of the users.
9. The method as claimed in claim 7, wherein generating the score includes analyzing the correlation between health metrics and financial stability to adjust scoring algorithms.