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Delecto, First Financial Wellness Company Established In Luxembourg

Delecto Financial Wellness – “Delecto” – is the first Financial Wellness company to be established in Luxembourg as a Société d’Impact Sociétal (SIS). We asked Cândida Nedog, Founder and CEO, to detail her project.
What is Delecto about?

Delecto’s core objective is to provide well educated income earners with a chance to eliminate their debts, properly manage their finances, rebuild their credit and, consequently, their integrity.

Several global studies show that financial stress is a top work-life issue for employees and companies are now beginning to recognize the association between financial security and work performance.

With that in mind, Delecto will offer personalised programs to private and public employers in Luxembourg which can be used by their employees in financial distress, thus resulting in an important Corporate Social Responsibility KPI for the employer, while providing relief, empowerment and a proactive solution for their employees.

Simultaneously, Delecto will offer workshops for children from varied age groups on how to be financially smart by exposing them to topics such as: money management, difference between credit and debit cards, the power of the stock market, compound interest, how to set goals, and entrepreneurship

Special programs will be developed to the following target groups: single parents, independent workers facing financial difficulties, independent workers in need of a structured and manageable financial blueprint, and young professionals – guidelines and principles to map out their finances proactively

How did you come up with the idea?

From a simple question: why intelligent, well-educated people act recklessly towards their finances (myself included)?

There are several ways to answer this question which can be found in studies of behavioral economics, but the bottom line is: How do we get OUT of indebtedness and never fall into it again? And lastly, how do we PREVENT our children from making the same financial mistakes, from falling into the same traps?

What is your product/service?

Delecto will offer personalised financial wellness programs covering the following steps:

  • Organising & Structuring of financial documents such as invoices, receipts, tax returns;
  • One-on-One Strategic Planning covering budget overview, debt elimination implementation;
  • Follow up with a Personal Finances Mentor to ensure the implementation of the strategies, and to upgrade financial literacy;
  • Neurolinguistics Programming assessment (NLP) using Artificial Intelligence technology to understand and change disempowering money habits while building a positive mindset around finances and management of finances.
What is your business model?
  • Personalised financial programs will be presented to private and public employers
  • HR departments to select and offer the services to employees in financial distress; enrollment in such a program is an important CSR KPI and tax deductions may be possible
  • Special financial programs for independent workers and young professionals
  • Sale of advertisement space for financial products on website (affiliate marketing)
  • Children’s workshops with different speakers for 15 min each, similar to TED Talks
  • Business model to evolve into a brand for distribution/franchise to neighbouring countries
What do you expect from this concept?

To build a debt-free and financially educated nation.

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