Think Forward Summit Report
Recap and mindmaps
It’s just over a month since the second annual Think Forward Summit took place, and a lot has happened. In this report you can read a recap of the progress made since the first Summit in 2016, info about the speakers at the 2017 Summit, and mindmaps that show the results of the break-out sessions.
Four inspiring speakers
The first part of the Summit offered participants the latest insights from leading thinkers on behavioural finance and financial decision-making. These four speakers inspired the participants with their enthusiastic and innovative thoughts:
- Michael Norton
Harold M. Brierley Professor of Business Administration at the Harvard Business School and co-author of the book ‘Happy Money: The Science of Happier Spending’.
- Sille Krukow
Founder of KRUKOW and the developer of the KRUKOW behavioural design methodology.
- Björn Weigel
Business strategist, private equity investor and entrepreneur.
- MJ Petroni
Cyborg anthropologist: a translator of trends, provocateur of new ways of thinking and guardian of values in the technology age.
The second part of the 2017 Summit consisted of a break-out session where participants split into four groups to discuss TFI’s progress and projects so far, as well as strategy and activities for this year and beyond.Three of the break-out groups were organised along the themes of TFI, with the fourth looking at long-term innovation trends:
- Budgeting, spending and borrowing
- Savings, investment and retirement
- Financial literacy
- Improving financial decision making in 2027
The results of the break-out sessions can be found in the seven mindmaps in this report. The key takeaways per theme are as follow:
Budgeting, spending and borrowing
- Add more positive feedback into the practical solutions; make them less binary (not only yes or no) and more
- The practical solutions should be accessible.
- Preferably, TFI should focus on young people; in research and in schools.
Savings, investments and retirement
- Need for ‘metaresearch’,there is a need for research and infrastructure that transcends the
- An important question is, how do we get people to use these tools? What will trigger them to take action and
start using these tools?
- What is truly material in financial health? Which decisions and personality traits truly determine the
Financial literacy were:
- The apps should be integrated with existing banking apps to learn and leverage on transaction data.
- The apps should test the validity of the profiling questions, the user’s actual profile, and the tips and tricks which are generated – and learn from ‘fun feedback’ of the tips and tricks.
- Initiate a new ‘trust track’ within TFI dealing with trust, ethics and privacy.