Think Forward Summit Report 2017 | Deloitte

Article

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.
Think Forward Initiative Summit Report 2017

Break-Out Sessions

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

Results

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
    personal.
  • 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
    themes. 
  • 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
    outcomes?

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.

More information?

For more information about TFI, please contact Peter van Loon via pevanloon@deloitte.nl or Joep Arends via jarends@deloitte.nl.

Vond u dit nuttig?

Gerelateerde onderwerpen