#138: Closing the gender wealth gap with fintech founders, Elisabeth Prager and Nitika Vyas
Description
Elisabeth Prager began her career in life and pension and then moved into private banking. Subsequently she transitioned to a strategy consulting firm, and later freelanced for various philanthropic and multilateral agencies.
Nitika Vyas began her career in investment banking, and then moved into a hedge fund, before becoming the COO of a broker. Alongside her career, her interest in psychology prompter her to pursue a counselling qualification.
Together they have over 30 years experience in financial services and have seen first hand just how underserved women are when it comes to their personal finances.
They co-founded Aila Money, a fintech startup on a mission to close the gender wealth gap. Aila helps women plan, learn and get ongoing guidance on their finances. The free solution leverages behavioural science, AI, and expert advice to empower women financially.
We cover the following:
00:16 Meet Elizabeth Prager and Nitika Vyas
02:13 Identifying problems in financial services
05:37 The decision to start Aila Money
08:32 Challenges in financial services for women
12:09 Gender stereotypes in finance
17:05 The importance of women investing
20:24 Common money mistakes women make
23:48 The role of societal norms
25:09 Encouraging financial engagement
25:41 Aila Money's approach to financial fitness
26:37 Trends in women's financial behaviours
28:40 The rise of single women
29:25 The Great Wealth Transfer
30:20 Emotional decisions with inherited wealth
32:50 Building Aila Money
35:42 Personalised financial journeys
42:26 Fundraising and future plans
45:50 Challenges for female founders
55:26 Advice for women: how to lean into investing
59:05 Conclusion
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The Purse Ltd.
United States
