On the 26th and 27th of March 2024, FAME’s General Assembly took place at the Science Park in Amsterdam (The Netherlands), showcasing significant progress towards its goal of revolutionising the integrated finance (EmFi) landscape.
During the General Assembly, exciting developments propelling us towards the realization of a federated marketplace and data space within the realm of Embedded Finance were discussed. These developments represent significant steps in creating a robust infrastructure that fosters data sovereignty, decentralised management and greater value added to data assets:
- Federated data asset catalogue: Diligent work has been done to establish a federated data asset catalogue to ensure easy access and discovery across the ecosystem. This catalogue serves as a building block for stakeholders to seamlessly explore and use data assets.
- Permissioned Hyperledger Besu Blockchain Infrastructure: Implemented to facilitate decentralized management of metadata and ensure data sovereignty, this architecture empowers stakeholders with control over their data while maintaining transparency and trust in the ecosystem.
- Machine learning and artificial intelligence functionalities: the approach goes beyond data warehousing to add value through advanced functionalities such as explainable AI and federated learning. These capabilities enhance the utility and insights derived from data assets, driving innovation and competitiveness in the integrated finance landscape.
- Learning Center for Embedded Finance: Recognizing the importance of knowledge dissemination, we’ve established a comprehensive Learning Center tailored to Embedded Finance. This platform offers a diverse range of courses and resources to empower stakeholders with the requisite skills and insights to navigate the evolving landscape effectively.
- Applications and Use cases: Partners’ efforts have culminated in a diverse set of applications and use cases that leverage the assets of the data space. These real-world applications demonstrate the tangible benefits of the federated marketplace and data space, ranging from improved decision-making to enhanced customer experiences.
In addition to serving as a platform to share all project progress to date, the General Assembly also served as a forum to engage in a discussion on the governance and management of a truly federated and decentralised data infrastructure. In line with leading industry reference architectures such as the Gaia-X Association for Data and Cloud and the International Association for Data Spaces, FAME is committed to fostering an ecosystem based on transparency, accountability and inclusiveness.
Our journey towards a federated marketplace and data space in Embedded Finance is marked by relentless innovation, collaboration, and a commitment to driving positive change in the industry. As the project moves forward, we invite stakeholders to join us in shaping the future of integrated finance through a shared vision of openness, accessibility and value creation.
Stay tuned for more updates on this journey.
