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NEWS - 16. January 2018 14:00

SEB and Garage 48 organise a next generation financial technology hackathon

SEB joined forces with Garage48, to organise a financial technology hackathon. All of those who are interested in and enthusiastic about helping traditional banking to make its next “Tiger’s Leap” into the future, are invited to participate.

“Garage48 and SEB are organising a joint development weekend in open banking on 16–18 February, the main aim of which is to launch next generation financial technologies. The changes enable people who are interested in financial technology to cooperate more closely with traditional banking in the future.  Hackathon is aimed at all of those who are interested in and enthusiastic about financial technology,” said Ragnar Toomla, Head of Digital Strategy in SEB Baltic.

Application programming interface (API) is the biggest change in banking after the triumph of the internet and mobile banking. From now on, the banks will start distributing their APIs, to directly connect to the clients’ accounts, credit cards and other channels.  A more open development platform enables talented players to develop new and unprecedented applications. For example, to teach Siri to tell you your account balance, share information across banks, automatise the preparation of invoices, build a chat robot for banking or aggregate information from different sources to create unforeseen concepts.

“We believe that open banking is where the future and undiscovered potential of traditional banking lies.  This is why we invite every person with a creative mind and interest in technology, marketing talents, project managers and designers to participate in our hackathon and challenge the financial technology,” Toomla added.

The hackathon of Garage48, “Baltic Open Banking”, will be held in SEB’s Innovation Centre, Tallinn on 16–18 February. The best teams will get a possibility to further develop their ideas and prototypes with the assistance of SEB and mentorship.

SEB launched a development portal with sample APIs to create new services for Baltic clients:


SEB is a leading Nordic financial services group. An entrepreneurial and innovative mindset is the key to creating a better world. Therefore, we inspire and assist aspiring entrepreneurs through support activities such as the entrepreneurship competition Ajujaht (brain hunt), promoting entrepreneurship studies in cooperation with Junior Achievement and sharing business knowledge through SEB aims at building long-term and sustainable relationships with clients and supporting them in good times and bad. Read more about SEB Group at


For more information:

Evelin Allas
Communications Manager
Marketing and Communications Division

Phone +372 665 5649
Mobile: +372 511 1718
Address Tornimäe 2, 15010 Tallinn

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