Luminor takes the next step towards creating innovation culture

As a part of building innovation culture in Luminor, to get a real startup experience, first Luminor hackathon ‘Labs’ kicked-off. 50 employees across the Baltic countries in 48 hours worked on various innovative ideas to improve internal and external customer experience.

"Such happenings actually make Luminor people come together, put their heads together and think what could actually “click” and add value to our customers on top of our daily agenda. And these ideas what we developed have added an enormous value," says Erkki Raasuke, Luminor CEO.

“I think what is typically for those events is a positive energy and people willing to do and to engage. There weren’t easy decisions because there were really many good ideas what we needed to pick from and the great effort from the teams,” adds Kerli Gabrilovica, Country Manager in Luminor Latvia.

The very first Luminor Labs winner is idea “Anomaly Detection in Clients' Activities” – using Machine Learning algorithms to adjust transaction monitoring rules to reduce the number of false positive alerts. The team managed to accomplish a working prediction model to identify false positive alerts.

Other ideas to which people worked on during Luminor hackathon were related either to improve daily banking services or to change the customer journey and experience. All the ideas will be continued with

Luminor’s ambition is to create the leading digital financial partner for entrepreneurial people and local companies in the Baltic region.