Promoting Financial Awareness and Stability

Project Information

PROFIT

Grant agreement ID: 687895

DOI 10.3030/687895

Project closed

EC signature date 6 November 2015

Start date 1 January 2016

End date 31 December 2018

Funded under

• INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)

Total cost € 1 599 467,50

EU contribution € 1 599 467,50

Coordinated by

EEA SRO
Slovakia

Objective

The need to advance financial capability and financial awareness among informed citizens and market participants was identified as a major target to achieve an improved social performance, better client protection and, ultimately, greater societal well-being. The new socio-economic landscape in the post-crisis world brought changes in the financial, labour and pension markets along with changes in the public finance decisions from the political sphere. Technological developments enable and enhance the availability of large volumes of information on themes relevant to financial decision making. However, the volume of information, the existence of often ad hoc sources, and the documented existence of cognitive limitations by individuals when it comes to the processing of big data plus widespread financial illiteracy found even within developed economies, including those of the EU point to the need for (a) specialized financial education toolkits available to the wider public (b) advanced crowd-sourcing tools to process financial data, extract and present collective knowledge, (c) advanced forecasting models exploiting the market sentiment to identify market trends and threats, (d) novel personalized recommendation systems to support financial decisions according to the user’s profile (financial literacy level, interests, demographic characteristics etc). Based on these requirements,
PROFIT will develop a platform built on Open Source components. The platform's functionalities will be pilot-tested in collaboration with the members of the European Federation of Ethical and Alternative Banks (FEBEA), an institution committed to responsible banking and finance. The outcomes of the project are expected to enable best practices that can be made available to the wide public in the European Union.

Keywords

• financial awareness
• improved social performance
• social innovation
• decision making support
• open source software
• open data
• linked data

Programme(s)

• H2020-EU.2.1.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT) Main Programme

Topic(s)

• ICT-10-2015 - Collective Awareness Platforms for Sustainability and Social Innovation

Call for proposal

H2020-ICT-2015

Funding Scheme

RIA - Research and Innovation action

Coordinator

EEA SRO

• Net EU contribution: € 315 250,00
• Address: HATTALOVA 12/B 12B ; 831 03 Bratislava ; Slovakia
• SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed. Yes:
  Region
  Slovensko › Bratislavský kraj › Bratislavský kraj
• Region: Slovensko › Bratislavský kraj › Bratislavský kraj
• Activity type: Private for-profit entities (excluding Higher or Secondary Education Establishments)
• Total cost: € 315 250,00

Participants (11)

ETHNIKO KENTRO EREVNAS KAI TECHNOLOGIKIS ANAPTYXIS

Greece

• Net EU contribution: € 281 875,00
• Address: CHARILAOU THERMI ROAD 6 KM ; 57001 Thermi Thessaloniki
• Region: Βόρεια Ελλάδα › Κεντρική Μακεδονία › Θεσσαλονίκη
• Activity type: Research Organisations
• Total cost: € 281 875,00

UNIVERSITY OF GLASGOW

United Kingdom

• Net EU contribution: € 261 655,00
• Address: UNIVERSITY AVENUE ; G12 8QQ Glasgow
• Region: Scotland › West Central Scotland › Glasgow City
• Activity type: Higher or Secondary Education Establishments
• Total cost: € 261 655,00

DIMOKRITIO PANEPISTIMIO THRAKIS

Greece

• Net EU contribution: € 260 875,00
• Address: PANEPISTIMIOUPOLI RECTORATE BUILDING ; 691 00 KOMOTINI
• Region: Βόρεια Ελλάδα › Aνατολική Μακεδονία › Ροδόπη
• Activity type: Higher or Secondary Education Establishments
• Total cost: € 260 875,00

SEMANTIC WEB COMPANY GMBH

Austria

• Net EU contribution: € 262 250,00
• Address: MARIAHILFERSTRASSE 70/8 ; 1070 Wien
• SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed. Yes:
  Region
  Ostösterreich › Wien › Wien
• Region: Ostösterreich › Wien › Wien
• Activity type: Private for-profit entities (excluding Higher or Secondary Education Establishments)
• Total cost: € 262 250,00

FEDERATION EUROPEENNE DE FINANCES ET BANQUES ETHIQUES ET ALTERNATIVES

Belgium

• Net EU contribution: € 36 250,00
• Address: RUE DES ALEXIENS 16B ; 1000 BRUXELLES
• Region: Région de Bruxelles-Capitale/Brussels Hoofdstedelijk Gewest › Région de Bruxelles-Capitale/ Brussels Hoofdstedelijk Gewest › Arr. de Bruxelles-Capitale/Arr. Brussel-Hoofdstad
• Activity type: Other
• Total cost: € 217 562,50

Third-party

Legal entity other than a subcontractor which is affiliated or legally linked to a participant. The entity carries out work under the conditions laid down in the Grant Agreement, supplies goods or provides services for the action, but did not sign the Grant Agreement. A third party abides by the rules applicable to its related participant under the Grant Agreement with regard to eligibility of costs and control of expenditure.

CREDAL SC

Belgium

• Net EU contribution: € 45 000,00
• Address: RUE D'ALOST 7 ; 1000 Bruxelles / Brussel
• SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed. Yes:
  Region
  Région de Bruxelles-Capitale/Brussels Hoofdstedelijk Gewest › Région de Bruxelles-Capitale/ Brussels Hoofdstedelijk Gewest › Arr. de Bruxelles-Capitale/Arr. Brussel-Hoofdstad
• Region: Région de Bruxelles-Capitale/Brussels Hoofdstedelijk Gewest › Région de Bruxelles-Capitale/ Brussels Hoofdstedelijk Gewest › Arr. de Bruxelles-Capitale/Arr. Brussel-Hoofdstad
• Activity type: Private for-profit entities (excluding Higher or Secondary Education Establishments)
• Total cost: No data

Third-party

Legal entity other than a subcontractor which is affiliated or legally linked to a participant. The entity carries out work under the conditions laid down in the Grant Agreement, supplies goods or provides services for the action, but did not sign the Grant Agreement. A third party abides by the rules applicable to its related participant under the Grant Agreement with regard to eligibility of costs and control of expenditure.

ZADRUGA ZA ETICNO FINANCIRANJE

Croatia

• Net EU contribution: € 21 000,00
• Address: ILICA 36 ; 10000 Zagreb
• Region: Hrvatska › Grad Zagreb › Grad Zagreb
• Activity type: Private for-profit entities (excluding Higher or Secondary Education Establishments)
• Total cost: No data

Third-party

Legal entity other than a subcontractor which is affiliated or legally linked to a participant. The entity carries out work under the conditions laid down in the Grant Agreement, supplies goods or provides services for the action, but did not sign the Grant Agreement. A third party abides by the rules applicable to its related participant under the Grant Agreement with regard to eligibility of costs and control of expenditure.

SYNETERISTIKI TRAPEZA KARDITSAS SYN.P E

Greece

• Net EU contribution: € 30 000,00
• Address: KOLOKOTRONI KAI TALIADOUROU 1 ; 43100 Karditsa
• SME The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed. Yes:
  Region
  Κεντρική Ελλάδα › Θεσσαλία › Καρδίτσα
• Region: Κεντρική Ελλάδα › Θεσσαλία › Καρδίτσα
• Activity type: Private for-profit entities (excluding Higher or Secondary Education Establishments)
• Total cost: No data

Third-party

Legal entity other than a subcontractor which is affiliated or legally linked to a participant. The entity carries out work under the conditions laid down in the Grant Agreement, supplies goods or provides services for the action, but did not sign the Grant Agreement. A third party abides by the rules applicable to its related participant under the Grant Agreement with regard to eligibility of costs and control of expenditure.

APS BANK LTD

Malta

• Net EU contribution: € 27 125,00
• Address: APS CENTRE TOWER STREET ; BKR 4012 Birkirkara
• Region: Malta › Malta › Malta
• Activity type: Private for-profit entities (excluding Higher or Secondary Education Establishments)
• Total cost: No data

Third-party

Legal entity other than a subcontractor which is affiliated or legally linked to a participant. The entity carries out work under the conditions laid down in the Grant Agreement, supplies goods or provides services for the action, but did not sign the Grant Agreement. A third party abides by the rules applicable to its related participant under the Grant Agreement with regard to eligibility of costs and control of expenditure.

SKLAD 05 - USTANOVA ZA DRUZBENE NALOZBE

Slovenia

• Net EU contribution: € 22 562,50
• Address: BRITOF 469 ; Kranj
• Region: Slovenija › Zahodna Slovenija › Gorenjska
• Activity type: Other
• Total cost: No data

Third-party

Legal entity other than a subcontractor which is affiliated or legally linked to a participant. The entity carries out work under the conditions laid down in the Grant Agreement, supplies goods or provides services for the action, but did not sign the Grant Agreement. A third party abides by the rules applicable to its related participant under the Grant Agreement with regard to eligibility of costs and control of expenditure.

SEFEA HOLDING - SOCIETA' EUROPEA FINANZA ETICA ED ALTERNATIVA - SOCIETA' COOPERATIVA

Italy

• Net EU contribution: € 35 625,00
• Address: PIAZZA ALCIDE DE GASPERI 42 ; 35131 Padova Pd
• Region: Nord-Est › Veneto › Padova
• Activity type: Private for-profit entities (excluding Higher or Secondary Education Establishments)
• Total cost: No data