Gender, Wealth, and the Aila Money Revolution with Elisabeth Prager | Fintech Daydreaming S10E06

In the latest episode of Fintech Daydreaming , Ville Sointu and I had the privilege of sitting down with Elisabeth P. , co-founder of Aila Money , to talk about something that often flies under the radar: the gender wealth gap. And spoiler alert, it's a huge issue that needs more attention than you might think. As Elisabeth pointed out during our conversation, closing this gap could take up to seven generations unless serious changes are made. That’s not just a slow burn, it’s a systemic issue that, if left unaddressed, will continue to hold back not only women but society as a whole.

But Elisabeth and the team at Aila Money are stepping up to be part of the solution. They’re building tools that empower women to take control of their financial futures, helping to close that gap once and for all. And this isn’t just about wealth, it’s about giving women the confidence to make big financial decisions, which, as we discussed, has historically been lacking.

The Gender Wealth Gap: How Did We Get Here?

Let’s start with some sobering stats. As Elisabeth shared, the gender wealth gap is projected to take more than 170 years to close. For context, that’s not just your children’s generation — it’s your great-great-great-grandchildren’s. One of the key issues Elisabeth highlighted is that women, on average, are far less likely to invest their money. This leads to a compounding problem: the less money you invest, the more you stand to lose in long-term wealth.

Aila Money’s mission is to help women bridge that gap by equipping them with the right financial tools and, more importantly, the confidence to use them. Through personalized insights and a kind of “digital personal trainer” for your finances, Aila offers women (and men) a roadmap to take control of their money and start building wealth.

More Than Money: Why Financial Empowerment Matters

But this conversation isn’t just about money. As we’ve touched on in previous episodes, financial literacy and inclusion are foundational to living an empowered life. Elisabeth's work at Aila addresses the emotional and psychological barriers that often prevent women from feeling confident in their financial decisions. In fact, women are often socialized to feel more comfortable managing day-to-day budgets rather than making the bigger investment decisions that generate real wealth.

In a world where managing finances is increasingly complex, and where choices feel endless and often overwhelming, it's easy to see how anyone could be hesitant about jumping into the world of investing, let alone those who haven’t had the same exposure or education about financial markets. The truth is, we need better financial education across the board, and it’s clear that women have been underserved in this regard.

Bridging the Gap With Technology

What makes Aila Money stand out is their use of technology to bring hyper-personalized financial advice directly to the user’s pocket. As Elisabeth explained, Aila’s app operates like a financial personal trainer. It helps users assess where they are financially, map out their goals, and figure out the steps they need to take to get there. Much like a fitness app nudges you to get in your daily steps, Aila Money nudges users toward healthier financial habits, whether it’s saving more, investing smarter, or tackling long-term financial goals like buying a house or starting a business.

And here's where it gets really interesting. Aila Money is bringing in behavioral science to help users better understand the trade-offs between their current financial decisions and their long-term goals. By focusing on "hyper-personalization," Aila is helping users create a financial plan that is as unique as their dreams.

Why This Matters for Everyone (Yes, Even the Men)

While Aila Money is primarily focused on empowering women, the truth is that financial literacy benefits everyone. As Elisabeth pointed out, about 25% of Aila's users are men, and that number is growing. The financial empowerment of women has a ripple effect, it benefits families, communities, and, yes, even the men in their lives. When women are more financially secure, everyone wins.

Elisabeth also mentioned something that has come up in several of our episodes: the decline in financial literacy across the board, particularly among younger generations. Both boys and girls are growing up in a world that’s more financially complex than ever, and without proper education, they’re at risk of making poor financial decisions, or worse, no decisions at all. This is a problem for everyone, but it’s particularly acute for women, who often feel even less empowered to engage with their finances.

What’s Next for Aila Money?

So, where is Aila Money headed next? As Elisabeth shared, the app is evolving rapidly, with plans to integrate open banking features and machine learning to deliver even more personalized financial guidance. They’re also exploring the use of large language models to create an even more tailored user experience, recognizing that different people have different needs when it comes to their finances. Whether you’re the type of person who wants a no-nonsense to-do list or someone who needs a bit more hand-holding, Aila aims to meet users where they are.

And here's something I found particularly exciting: Aila Money isn’t just about offering generic advice, it’s about understanding each user’s specific financial situation and providing actionable insights based on their unique goals. This is where the power of open banking comes in, allowing Aila to integrate users’ real-time financial data to create a plan that’s truly personalized.

A Call for More Inclusive Finance

As Elisabeth shared during our conversation, the world of finance has traditionally been designed by men, for men. But Aila Money is part of a new wave of fintech solutions that are rethinking financial services to be more inclusive. Whether it’s creating tools that are easier to use, offering financial products that are better suited to women’s needs, or simply creating spaces where women can have open conversations about money, the future of finance is looking brighter, and more equal.

If you want to learn more about how Aila Money is changing the game or explore how you can take control of your financial future, tune in to the full episode, and of course, don’t hesitate to reach out. Whether you’re a fintech enthusiast, an equality advocate, or just curious about the future of finance, there’s a lot we can all learn from this movement.

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