Farmers Edge, a global leader in digital agriculture, today announced that it is modernizing agricultural lending, moving beyond the "five C's of credit" to a data-driven model that will fuel the next era of loan services for the industry.
Farmers Edge is enabling banks and other financial services companies to offer customized loans that assess each grower's unique field-data and the progressive farming practices they employ. With their first partner signed on, Farmers Edge is prepared to transform agricultural lending to create a simplified, digital experience to provide the best loan terms using this innovative financing model.
Focused on creating a fully-connected agricultural ecosystem, Farmers Edge links growers with their trusted advisors and partners. This addition of financial services brings another layer of value to FarmCommand, a farm data management platform that integrates data from more sources than any other system.
Growers now have the option to share their data directly through FarmCommand, which combines field-level data, remote sensing, AI-driven models, and secure automation technology designed to deliver new levels of efficiency and productivity. Loan officers receive greater visibility of the farms they work with for better risk management while providing a superior customer experience to their clients, as well as new options tailored to individual needs and parameters.
Connecting agri-financers with growers digitally through FarmCommand is a time-saving step for both growers and lenders alike, allowing a seamless transfer of crop data that otherwise would require countless hours of paperwork, filing, and administration.
FarmCommand provides growers with a suite of exclusive digital tools, including a unique set of imagery-derived maps, highly-precise predictive crop models, automatic crop health change detection, and advanced analytics and reports to help them make more informed farm management decisions.
"The future of agri-finance is in localized field data; we're seeing tremendous interest from the financial services community and have already started signing strategic partnerships," said Wade Barnes, CEO and co-founder of Farmers Edge. "Field-centric farm data guides grower decisions and drives farms to be more profitable and productive. It also adds value to financial, insurance, and grain marketing services, creating a virtuous ecosystem in which all stakeholders benefit, and new business models emerge."
Source: agropages.com.
