The EO-FIN consortium successfully passed Progress Meeting 5 with ESA in December. As part of this milestone, we delivered 2 reports including the “D2.4 Prototype Identification” and “D3.1 Prototype Service Description (draft version)”. The next step is to develop the EO multi-physical risk observation service with the highest impact on the sector including Agricultural drought observations; Wildfires burned area observations; Flood extent mapping; and Heat hazard map. It is expected that This user-case service offers the major financial institutions numerous benefits by being applicable globally, the convenience of having several hazard layers in one service, and user-friendly post-processing functionalities.