Elyse Lefebvre, Lucas Farah and Simone Totaro utilized Xignite's market data APIs to design a financial planning application that enables millennial users to allocate their paychecks in order to improve their personal money management.

Cash-strapped millennials are not saving money, according to a recent study by Moody's Analytics, and after interviewing a group of millennial peers, the three young hackers saw this first-hand. The majority of those surveyed by the team were not properly managing their finances and wanted to feel more secure about their future.

The app developed by the winning Xignite team enables users to automatically divide their paychecks across four accounts – checking, emergency savings, rainy day savings and investments – by securely connecting to their bank accounts. Users can input savings goals and further integrate their accounts with social media profiles in order to assess their personality traits and generate a personal risk tolerance. Based on a user's current financial status and risk profile, their paycheck is automatically allocated into the right account. The app utilizes analytics, powered by Xignite market data, to determine a user's investment portfolio and project their returns over time.

"We understand that millennials hold great power in today's marketplace, and finding an easy-to-use, intuitive app that meets a common need amongst this group is a goal for many entrepreneurs in 2015," said Lefebvre. "Using Xignite's market data, we were able to build a powerful app very quickly that provides users with the ability to automatically and seamlessly manage their finances. We felt this enables millennials to be more responsible and confident in their personal money management."

The Capital One Hackathon brought together students, designers, business strategists and startups to spend a weekend coding to create personal financial management tools that would support the living, spending and saving trends of millennials. Elyse Lefebvre is a product manager at Monkey Inferno, a personal incubation lab that designs and builds consumer applications, Lucas Farah is an iOS developer and hackathon veteran from Brazil, and Simone Totaro is a business development fellow at Tradecraft, a full-time, immersive training program for individuals, who wants to become a UX designer, growth hacker, or sales and business development professional.

"We are seeing more millennials take a proactive role in the fintech world," said Stephane Dubois, CEO of Xignite. "The bright ideas and skills of today's entrepreneurs are the future of financial service technology, and the innovation we witnessed at the Capital One hackathon is testament to the great potential and impact of APIs in optimizing financial investment and management solutions, especially for the millennial generation."