Aisance, a mobile application developed in Luxembourg, aims to improve financial literacy and offer personalized budget advice, explains Roman Yerchenko.

Aisance is a financial advice application powered by artificial intelligence, designed to help users manage their budget, set financial goals, and strengthen their personal finance knowledge. Developed by euroAFF, a Luxembourg-based company, the platform uses AI technology to provide personalized financial analytics and practical financial education. According to Roman Yerchenko, CEO of EuroAFF, Aisance is for people who don't have the time or expertise to analyze their finances in detail, but still want to make informed decisions.

Asked about the choice of Luxembourg as a base for Aisance, Yerchenko, originally from Ukraine, explains:
“Luxembourg is one of the most innovative and business-friendly environments in Europe — especially in fintech. Its solid infrastructure, access to global financial institutions, and favourable regulatory framework make it an ideal hub for launching and evolving technological solutions.”

It also highlights that the financial landscape in Luxembourg represents an opportunity to fill a critical gap in financial literacy.
According to the OECD's international financial literacy survey in 2023, only 53% of adults in Luxembourg reached the minimum target score. Yerchenko sees this figure as worrying for everyday decision-making and long-term financial security.
“We are starting at home, in Luxembourg. It's a perfect testing ground: diverse, digitally connected, and small enough to gather meaningful impact data before expanding to other European markets.”

Although Aisance did not benefit from direct government support, the company remains committed to improving financial skills in Luxembourg. Yerchenko states:
“We believe in community support above all and would be delighted if local institutions showed interest in collaborating with us. Our aim is to create something that is truly useful for the people of Luxembourg — and beyond.”

Before launching Aisance, the company conducted extensive research to better understand the needs of its target audience, says Yerchenko. He said that they regularly consulted the local media, conducted surveys and engaged in direct conversations with high school students and professionals in Luxembourg. More importantly, over 100 people from the Grand Duchy were involved in the development process to test the application.
Yerchenko notes that the feedback received was essential in defining the functionalities of the application:
“One of the major lessons we've learned is that financial education isn't just for students — many professionals also have trouble managing their money,” he explains.
“Aisance is designed to fill that gap, by making financial planning accessible to everyone.”

To effectively integrate financial education into the application, the AI module focuses on three main priorities: understanding user preferences, making it easier to complete tasks, and allowing for practical integration, Yerchenko explains. Artificial intelligence learns user behaviors, sets financial priorities accordingly, and guides users at each stage, showing their progress.
In the future, Aisance plans to go beyond theoretical advice and to offer concrete scenarios allowing users to practice managing their finances in a realistic environment.

The application is also enriched by personalized budget recommendations, adapted to the unique financial situation of each user, reveals Yerchenko.
“Our AI analyzes the spending habits, incomes, and financial goals of each user to offer tailored recommendations. If it detects that the user is regularly spending too much in certain categories, it suggests realistic adjustments.”

For example, a financial assistant could help a user save for a trip by calculating how much to set aside each month and identifying where to reduce expenses.

The Aisance application is available on the App Store and Google Play.

Source: Delano