Statement - Think Forward Initiative

18 November 2021

The Think Forward Initiative (TFI) has achieved key milestones in fulfilling its purpose. Consequently, as of 1st December 2021, the initiative will be discontinued. TFI has supported almost 60 research projects and reached more than 100 million people in 18 countries around the globe with insights to help them make better financial decisions. The TFI partners are proud of the achieved results. The partners will either further embed financial health activities directly into their core business or continue supporting these activities through the execution of their core business.

The initiative has been enabled through a multi-partner structure with ING, Deloitte, CEPR, Amazon Web Services (AWS) and IBM. The partnership has been supported by a network of researchers, policy makers, entrepreneurs, consumer advocates, NGO’s, innovators, corporates and influencers who share TFI’s aim to help empower people financially. TFI was started in 2016 because the need was felt to take a front running role in emphasing the Financial Health challenge and to increase our roles as part of the solution. TFI's purpose has been to empower people to make better financial decisions to ultimately improve their overall financial health.

All outstanding commitments towards partners will be fulfilled. This means that research projects that were planned to run beyond the 1st of December will continue as planned. TFI will oversee the quality and delivery of the research reports until the second half of 2022 and share final reports with the TFI community. All research reports will remain accessible on this website. A new landing spot will be announced in due course.

If you would like to know more about the future plans of the partners regarding financial health please contact them directly or you can consult their company website.

The partners would like to thank everyone who has pioneered with us in exploring new ways to empower people to make better financial decisions.

Think Forward Initiative results

  • TFI has reached more than 100 million people in 18 countries around the globe with insights to help them make better financial decisions.
  • TFI has supported almost 60 research projects, providing the TFI community with deeper understanding of the behavior behind financial decision-making.
  • A few examples are research projects that have shown: how gamification can help people reach their saving goals; how budgeting apps can stimulate overspending rather than saving; and how income volatility affects financial decisions. Most of the scale-ups (see next point) have also been helped to improve their products and service offerings through behavioral and other insights resulting from TFI research.
  • TFI has helped a number of scale-ups that share their purpose with TFI to scale and to make use of TFI’s behavioral and other insights.
  • TFI has worked with: Otly, Limitless, MoneyCoach, Quotanda, Zuper, Peerby, Spenderlog, Moneyhub, Billbutler, 2Houses, Minna, Tully, AdviceRobo, Dyme, Mitto, Monkee, OpSeeker, Pirkx, Quinn.
  • TFI has successfully initiated the use of actionable insights to boost savings of financially vulnerable consumers. These insights were data-driven, based on behavioral science and tailored to consumer segments.
  • TFI has initiated setting up a Financial Health Index: A tool that enables people to measure their financial health score and get actionable tips to improve that score.
  • TFI has initiated a consumer survey which is conducted three to four times per year amongst a representative sample of people in eight countries in Europe to gauge how people feel about several financial decisions such as their spending, savings and housing/mortgages. It is important to keep a finger on the pulse and take into account how people feel about their finances, because our definition of financial health includes the component of how people feel, next to the more objective (locally-determined context) benchmarks that can be used.

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