Utilizing financial data of a user to identify a life event affecting the user

A system for identifying a life event affecting a first user, comprising:

• a hardware processor and memory;
• and
• software instructions stored in the memory and configured to execute on the hardware processor, which, when executed by the hardware processor, cause the hardware processor to:
• obtain a classification model that models how financial data of users relate to life events, wherein the classification model comprises a machine learning model;
• gather the financial data of the first user, wherein the financial data of the first user matches at least a subset of the classification model;
• identify, by applying the classification model to the financial data of the first user, the life event affecting the first user;
• derive, using financial data of the first user, an alternative spending pattern vector for the first user, the alternative spending pattern vector being based on the life event;
• confirm the life event by comparing the alternative spending pattern vector to a known spending pattern vector corresponding to a second user known to be experiencing a same life event as the life event of the first user;
• and
• customize, based on confirming the identified life event, a user interface of a software application utilized by the first user.

A non-transitory computer readable medium storing instructions for identifying a life event affecting a first user, the instructions, when executed by a computer processor, comprising functionality for:

• obtaining a classification model that models how financial data of users relate to life events, wherein the classification model comprises a machine learning model;
• gathering the financial data of the first user, wherein the financial data of the first user matches at least a subset of the classification model;
• identifying, by applying the classification model to the financial data of the first user, a life event affecting the first user;
• deriving, using financial data of the first user, an alternative spending pattern vector for the first user, the alternative spending pattern vector being based on the life event;
• confirming the life event by comparing the alternative spending pattern vector to a known spending pattern vector corresponding to a second user known to be experiencing a same life event as the life event of the first user;
• and
• customizing, based on confirming the identified life event, a user interface of a software application utilized by the first user.