LiTech, an Estonian start-up that provides software to solve data quality problems, has launched a major partnership with SEB Bank in Estonia, Latvia and Lithuania.
LiTech, a data startup that raised funds this spring, has started offering its data monitoring solution to branches of SEB, one of the largest banks in the Baltics, in Estonia, Latvia and Lithuania. The tool developed by LiTech enables the bank to get a clearer picture of data, its quality and errors.
"As a startup, we are extremely pleased that SEB shares our vision of the data world and understands the importance of data quality and data-driven management in today's business. Having one of the largest banks in Scandinavia among our customers is a significant step and we appreciate their feedback and cooperation, which allows us to further improve the functionality of the application," said Raiko Limmart, co-founder and CEO of LiTech.
"The expectation when introducing new developments and solutions is always that they will help optimise resources. The integration of LiTech simplifies the bank's processes and enables even more detailed and personalized decisions based on the collected data," said SEB Estonia’s IT and Product Development Manager Andrus Tamm who led the project.
In March this year, LiTech raised €500,000 to further develop the application and enter new markets. In Estonia, the start-up is also helping the Centre for Registers and Information Systems and telecom operator Telia to manage data quality.
LiTech has been developing the app since 2019, providing a solution for detecting errors and anomalies in data, monitoring and improving data quality. Higher data quality increases data trustworthiness, usability and enables companies to make more accurate business decisions. In addition, the use of the application saves hours for data engineers and analysts by automating much of the data testing process.