Why FAME?
Modern data marketplaces are transforming how data assets are shared, traded, and utilized. Recent European initiatives have made significant strides, particularly in enhancing data monetization, regulatory compliance, and secure data exchange. However, existing centralized marketplaces face challenges that limit broader participation and accessibility. Notable limitations include complex data discovery processes, limited transparency in value-based data monetization, and insufficient integration of trusted, energy-efficient analytics. Addressing these gaps can unlock new data-driven applications in sectors like finance, retail, and smart cities, empowering innovative services that seamlessly integrate financial data. That is where FAME comes in.
FAME’s Mission
FAME is on a mission to create a transformative platform and ecosystem to serve as a federated marketplace reference for the financial sector, closely aligned with the EU Data Strategy. As an EU-funded initiative, FAME combines technical, business, and legal frameworks to establish a unique, open, and publicly accessible federated data marketplace and platform for Embedded Finance (EmFi). The project adheres to emerging European data strategies, ensuring a solution that is secure, energy-efficient, and interoperable, while supporting transparent, programmable trading and pricing for data assets.
FAME as a Data Space
FAME also acts as a dedicated data space specifically for the financial sector, developed in compliance with EU regulations. The marketplace enables secure, federated transactions across various stakeholders, maintaining data sovereignty and trust. Governed through a federated model, FAME supports data exchange that adheres to shared principles and common values foundational to Europe’s data economy.
FAME has seven innovative objectives that serve to guide the project’s results.
Specify, implement, and launch to the market a federated multi-cloud, multi-stakeholder, standards-based data marketplace platform that will be used to support discovery, exchange, pricing, and trading of data assets from multiple federated marketplaces in-line with European values and the European data strategy
Design, implement and provide an AAI infrastructure that will abstract data access, data management and data policies across federated data providers (i.e., marketplaces, data spaces, data providers). The AAI will offer (A) a marketplace platform agnostic Data Provider Interface (DPI), (B) abstract data policy management functionalities, and (C) regulatory compliance tools.
Design and implement a Federated Data Assets Catalogue (FDAC), which will integrate FAIR data assets from the different data providers and marketplaces that connect to FAME. The catalogue will accelerate the process of discovering interoperable, FAIR and interrelated data assets for EmFi use cases. It will offer user-friendly search interfaces, including semantic search interfaces
Design and implement decentralized, programmable, value-based trading and monetization techniques based on blockchain tokenization technologies.
Provide a toolbox for trustworthy and energy efficient analytics, which will enable the extraction of novel data-driven insights over other assets of the FAME marketplace (i.e., the production of new data assets).
Use the FAME marketplace platform to access, trade, buy, sell, and use data assets in real-life EmFi pilots and use cases (UCs).
FAME will build a vibrant community of interested and committed data economy and EmFi stakeholders around the project’s data marketplace platform. Emphasis will be placed on upskilling and reskilling stakeholders in directions that enable them to understand the data economy and leverage the FAME marketplace by using a novel Learning Center (LC).
FAME Pilots
Through FAME’s seven pilots, project partners seek to test and validate FAME technologies in real-world environments, offering solutions for financial institutions and other end-users. Each pilot engages with different aspects of the financial services ecosystem, including citizen wallets, EU fund applications, ESG scorecards, family financial planning, and more. Check out all of FAME’s pilots below.
- Pilot #1: FaMLy – A powerful financial recommendation engine for families
- Pilot #2: Embedding Finance Services in a Personalized Citizen Wallet
- Pilot #3: Personalized Collaborative Intelligence for Enhancing EmFi Services
- Pilot #4: The EU Funds Application Process Made Easy
- Pilot #5: ESG Scorecard Ranking & Sustainable Portfolio Optimisation
- Pilot #6: Embedding Climatic Predictions in Property Insurance Products
- Pilot #7: Assessing the Quality and Monetary Value of Data Assets
