European micro-credentials and professional qualifications certification system in the banking & financial services sector - MiCreS

The objective of the project is focused on:

1.  Developing a European system for the certification of professional qualifications and related micro-credentials to implement a prototype certification on ESG for the banking and financial services sector in Europe and in third countries through a unique and innovative scope; a blockchain technology, interoperable with the European Digital Credentials for learning.
2. Furthermore, supporting the green transition toward a more sustainable and responsible financial system.

As part of the project, a prototype will be developed that adds a node to an existing blockchain credentialling platform. Those achieving the micro-credentials will be awarded the professional accreditation and registered certificates by EBTN.

The European micro-credentials and professional qualifications certification system in the banking & financial services sector (thereafter- MiCreS) project ambition is to develop the first sector driven ecosystem for micro-credentials (blockchain-based) in financial services in Europe. The MiCreS project come under the Erasmus+, Forward Looking Programme (Call 2023) that has been approved by the European Commission at the end of 2023, with the duration from 01/01/2024 until 31/12/2026.

The project platform will be implemented within a consortium with Frankfurt School as the coordinator and 13 partners from Europe and third countries:

• European Banking & Financial Services Training Association (EBTN), Belgium
• The Institute of Bankers in Ireland (IOB), Ireland
• Institutul Bancar Roman (IBR), Romania
• Institute of Financial Services (IFS Malta), Malta
• FUNDACIÓ PRIVADA INSTITUT D’ESTUDIS FINANCERS(BFS-IEF), Spain
• Macedonian Banking Association (MBA), North Macedonia
• ASSOCIATION OF SERBIAN BANKS (ASB), Serbia
• IFE Istanbul Finans Enstitusu Egitim ve Danismanlik Hizme (IFE), Turkey
• Finance & Banking, Associazione per lo Sviluppo Organizzativo e delle Risorse U.(EFFEBI), Italy
• BANKING & PAYMENTS FEDERATION IRELAND COMPANY(BPFI), Ireland
• Malta Union of Bank Employees (MUBE), Malta
• European Forum of Technical and Vocational Education and Training (EfVET), Belgium

MiCreS will benefit various groups and stakeholders, such as banks, policymakers, employees, students, authorities, trainers, and educators. It offers fast, flexible, and inclusive learning opportunities that integrate the Sustainable Finance practices into daily work. The project addresses the skills gaps and training needs in the industry, as well as to provide learners with evidence of their acquired skills and knowledge that will be recognised throughout Europe.

The Key benefits of the project will be obtained are:

• Fast access to learning ;
• Ability to re-skill and up-skill quickly;
• Mitigate the skills gap and challenges in the sector;
• Having skills and competencies recognized;
• Integrate the Sustainable Finance practices into daily work;
• Equipe the financial services professionals to green skills development at a system level;

The cost of non-degree credentials to boost employee skills comparing with traditional programmes is typically less that help to have an inclusive labour market.