Agri lending sector set for transformation through partnership between Perfios and SatSure
In a groundbreaking move, Perfios.ai and SatSure have joined forces to revolutionise agricultural lending in India. This strategic alliance aims to unlock credit access for over 100 million farmers nationwide, driving financial inclusion in rural areas by bringing the best of FinTech and space-based applications together.
The partnership, represented by SatSure's CEO Sharad Agrawal and executives from NABARD and SIDBI, will enable financial institutions to make more informed decisions seamlessly by threading a single digital journey. This digital transformation of agricultural subsidies in India will provide lenders with superior visibility into farm productivity and borrower behaviour, ensuring more reliable delivery of credit.
The collaboration will also accelerate loan disbursements and provide actionable insights to lenders. Earth intelligence is embedded into financial workflows, allowing for early stress detection and mitigation of default risks. Automation of verification processes and loan monitoring ensures faster credit delivery, scaling the reach of institutions while maintaining cost efficiency.
Dhruva Rajan, Chief Commercial Officer of SatSure, expressed excitement about the collaboration and its potential to significantly accelerate the reach of their offerings to banks for farm lending. The partnership will reimagine the agri-lending lifecycle by digitising information flows and reducing operational costs.
The Indian agricultural credit market is projected to exceed $384 billion by FY 2025-26, making the partnership particularly relevant in addressing the demand and pressure on rural financing. Sridhar Narayan, CBO of Perfios, stated that the partnership is a game-changer for financial institutions seeking advanced technological solutions.
The alliance integrates SatSure's SatSource and SatCollect platforms, which are powered by satellite imagery, remote sensing, and artificial intelligence. These platforms will extend services to underserved farming communities, providing a significant boost to the rural economy.
This strategic alliance reshapes the agricultural credit landscape, marking a significant step forward in India's digital transformation journey. The collaboration is significant for driving financial inclusion in rural areas and is not related to recent news about Aavishkaar Capital raising funds for SMEs or Diebold Nixdorf launching tools for bank modernization.
