Banking / WHITE PAPER
Growing global food demand presents financial institutions with an opportunity to help the industry embrace agriculture technology such as precision agriculture, IoT, and big data, all enabled by a digital ecosystem. Improving access to finance and facilitation of long-term investment finance, along with new value-added products and services, can deliver a transformative customer experience to farmers besides unlocking exponential value for all the stakeholders.
To build a healthy ecosystem, financial institutions must initiate some important measures:
Strengthen the digital platform: Integration of various ecosystem players on a single digital platform with components such as advisory chatbots and collaborative features
Establish a data ecosystem: Leverage digital cloud technologies and the data ecosystem to identify risks better
Leverage actionable insights: Tap into AI and ML techniques to harvest valuable insights