OREANDA-NEWS. March 02, 2012. IT company Webmedia was commissioned by SEB Group to develop an application for the financial consultation of corporate clients. As from this year, the application is being used by the banks of SEB Group in the Nordic and Baltic countries, reported the press-centre of SEB Group.

“Smart, user-friendly and immediately applicable solutions are the creed of the new era. It is extremely pleasant to note that one such project was completed in an area which is classically conservative. This demonstrates SEB’s sincere desire to be more helpful towards their clients,” said CEO of Webmedia, Taavi Kotka.

“We have reason to be proud that an application developed in Estonia has found its place in the day-to-day activities of an international banking group. Awareness of Estonia’s progressiveness in the IT realm continues to grow in Scandinavia and thus our IT sector will hopefully find it easier to export their services,” said Member of the Management Board of SEB and Head of the Corporate Banking Unit, Allan Parik.

Allan Parik explained that the application, developed together with Webmedia, facilitates analysing the current and future financial situation of a company at meetings between the representatives of the bank and the company. “Complicated indicators, which were previously comprehensible only to financial analysts, become meaningful with the help of summarised graphs and comparisons of periods. Companies can simulate various scenarios together with their account manager with a view to identifying risks and new business opportunities. The account manager helps interpret key indicators and predict the future of the company,” said Allan Parik.

Never before has the Estonian financial landscape seen such diverse software which offers significant inputs for the client and combines the heightened demands of the banks for financial analysis with the day-to-day financial management of companies. This application enables the bank to present a profound financial analysis of a company in a simple and summarised form. “Today, as companies are struggling to preserve their profits in difficult market conditions, such a summary is essential to ensure the companies’ competitive edge both in Estonia and on export markets. I believe that the new consultation service gives a significant competitive advantage to our corporate clients and thus makes SEB the best financial partner on the banking market,” added Allan Parik.

The development work was relatively fast-paced ? co-operation with Webmedia regarding the model started in July 2011 and the first meetings with clients were in November. The development works involved approximately 50 clients of SEB in all three Baltic States. The new application has been put to use at around 100 client meetings in Estonia. The companies have emphasised the simplicity of the analysis model, visualisation of the financial results and the option to analyse and compare the impact of future forecasts on the circulating capital of the company.

Additional information about the new consultation service for corporate clients can be found at SEB’s website www.seb.ee/ariklient2012#noustamine. It is also possible to make an appointment to use the consultation model. The service is free for companies.