June 19, 2020

SEB Bank in cooperation with Fitek starts offering e-invoice sending to SME clients in Estonia

Fitek, part of Europe’s leading financial technology company Unifiedpost Group, is to start cooperation with SEB Bank integrating e-invoice sending platform for SEB business clients. Initially, functionality will be launched in Estonia.

Starting from July 2020, SEB business clients will be able to send e-invoices to B2C (business-to-customer), B2B (business-to-business) and B2G (business-to-government) segments. SEB operates based on a belief that entrepreneurial minds and innovative companies are key to creating a better world, therefore SEB’s actions are targeted to enable companies to achieve their aspirations and succeed through the good times and the bad.

The new e-invoice sending platform will be accessible to SEB business customers using SEB Internet Bank. The solution will be targeted towards the SME segment. Companies will be able to sign a contract, use the e-invoice sending portal, collect payment and archive invoices: all in one place.

Mait Sooaru, CEO of the Fitek Group says, “We are pleased that Fitek was chosen as a partner in the delivery of the brand new SEB e-invoicing platform for SME clients. The transition to sending e-invoices is part of a real-time economic movement which is transforming companies and facilitating business transactions and informational exchange in a digital, standardized, and machine-readable format. Especially in accounting, real-time economic solutions help businesses save both time and money. E-invoicing is the future and plays an important role in this transformation.”

SEB e-invoice sending platform will be available to SEB business clients this summer. 

Ragnar Toomla, Head of Open Banking Baltics at SEB Bank states, “Through our partnership with Fitek, we will be able to bring our customers a wider choice of services. The integration of invoice management to SEB Internet Bank increases our customers’ efficiency and lowers risk by fully digitalising their invoice management. We believe that it is possible to provide clear and easy-to-use services to customers through connecting a best-in-class service provider to SEB customers.”

SEB Bank

SEB Bank is a leading Nordic financial services group, founded in 1856. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway and Germany, SEB operations have a strong focus on a full-service offering to corporate and institutional clients.

SEB has 4.4 million business and private customers around the world, and 15,000 employees.

Fitek Group and Unifiedpost Group

Fitek Group operates in Estonia, Latvia, Lithuania, Slovakia, Serbia, and Bosnia and Herzegovina and employs 280 people. Fitek Group is owned by the Belgian company Unifiedpost Group.

Unifiedpost Group is Europe’s leading financial technology group with a turnover of € 70 million, employing more than 800 people, more than 90 of whom are engaged in research and development.

Fitek will start incorporating the phrase "Part of Unifiedpost Group” in its logo and communications starting today, in recognition of the parent company’s listing on the regulated market of Euronext Brussels (the “Listing”).

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Fitek Balkan becomes majority stakeholder of personalized printing and enveloping company Tehnobiro. The deal was finalized on July 6. As a result, Fitek Balkan Ltd will own 51% of the stake and thus become the majority owner of Tehnobiro.

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1 July marks one year since the state of Estonia started accepting only e-invoices. This move made the state a pioneer in the transition to modern settlement solutions in Estonia; in one year, state agencies have received 370,000 e-invoices from their cooperation partners. Financial technology company Fitek, the operator of e-invoices for state agencies, estimates that the share of e-invoices received by the public sector has more than tripled, reaching 98%.

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