Bank’s Used Computers Create Value for Schools and Individuals Across Estonia
Nearly three years ago, SEB Estonia began collaborating with GreenDice, a startup promoting tech circulation. As a result, the bank’s well-maintained digital devices are now being passed on to new users. This reuse helps reduce electronic waste and overconsumption.
“From a sustainability perspective, it’s extremely important to find a solution for maximizing the value of existing products for society. This can prevent the production of cheap, unnecessary waste and alleviate constantly rising prices,” explained Argo Alaniit, CEO of GreenDice.
GreenDice extends the lifespan of all devices that enter its exchange cycle. The device’s lifecycle can be tracked through the company’s system, allowing for analysis of when a device entered material circulation, i.e., when its life cycle ended. GreenDice’s transparent circular economy model currently works with IT equipment but could successfully be applied in other fields.
“In addition to the current deficient practices, a vague ‘rent and forget’ model is gaining ground in the market, offering consumers the option to rent items for 3-5 years. However, this is a closed period from which it’s not possible to exit early, and after the rental period ends, attempts are made to sell items without a warranty to economically weaker target groups. With such practices, control is lost over what happens to the items afterward and how long they continue to create value for society,” Alaniit pointed out the concerns with unsustainable ventures.
Model Significantly Simplifies the Device Forwarding Process for the Bank
For the bank, it’s paramount to quickly, yet correctly and responsibly, dispose of surplus equipment within the device exchange cycle. As a large company, the goal is to make internal processes more efficient and sustainable.
“Previously, if we wanted to offer our employees the option to buy their old IT equipment, the IT department had to conduct a market price analysis for each device. Since GreenDice has a tax exemption issued by the Estonian Tax and Customs Board, it significantly simplifies the process of forwarding devices for us,” said Andrus Tamm, Head of Product Development and Technology at SEB.
After a maintenance overhaul at GreenDice’s workshop, the devices are rebranded with the bank’s logos.
“The stickers added to laptops protect the devices from scratches and are also an excellent solution for highlighting the brand. Thanks to collaborations with schools, the SEB logo is constantly in front of at least 1,500 pairs of eyes,” said GreenDice’s CEO.
GreenDice’s solution has brought SEB significant financial savings compared to computer rentals – the bank has nearly 4,500 devices across the Baltics and renting them would increase costs while also failing to achieve a social impact on society. Thanks to the fully traceable journey of each device, SEB can accurately report itself as a responsible consumer.
Service Based on Today’s Human Primary Need – Convenience
As part of the service, GreenDice repairs the device or replaces it with an equivalent, meaning there are no additional costs if the equipment breaks down or becomes obsolete. If a user no longer needs a device, they are obligated to return it to GreenDice. This allows the company to take responsibility and direct the returned device into material circulation.
“Access to quality computer technology has never been so accessible and supported. Starting from 7 euros per month, anyone can use proper devices with full maintenance, warranty, and technical support. Through the self-service system, it’s also possible to acquire, upgrade, and return devices, and if needed, order additional services such as Office 365 applications or OneDrive cloud space,” Alaniit added.
