Agricultural Bank of China Shandong Branch: “Smart+” Empowering Digital Rural Construction

Agricultural Bank of China’s cow face recognition ‘smart animal husbandry loan’, using live cows as collateral, solved my urgent need Du Yan, the general manager of Shandong Damuniu Agricultural Technology Development Co., Ltd., who successfully obtained the loan, introduced that.
Da Mou Niu Agricultural Technology Development Co., Ltd. is an enterprise mainly engaged in dairy farming, covering an area of more than 130 acres, and currently has over 700 cows in the herd. Affected by the rise in feed prices, the company needs to reserve feed and expand its breeding scale, but due to insufficient self funding, turnover is really tight. I really made a mistake! “Du Yan said.

It is reported that the smart livestock scene utilizes intelligent ear tags, collars and other IoT devices or animal face recognition technology to establish a unique identification of live livestock assets, automatically collect vital signs and other information, upload it to the application platform for analysis and processing, and remotely monitor and manage live collateral through modern technological means.

During the business process, the enterprise proposes that frequent ear labeling of cows during breeding and epidemic prevention can lead to stress reactions and affect milk production. In response, Agricultural Bank of China Weifang Branch achieved the first cow face collection system input, successfully issuing the first cow face recognition live mortgage loan of 1.4 million yuan in the province’s Agricultural Bank of China system, solving the problem of difficulty in mortgaging live livestock for farmers.

From the actual effect of loans, the application of new technologies in live mortgage loans has brought financial support to aquaculture enterprises and promoted the sustainable development of the aquaculture industry. Through flexible capital flow, breeding enterprises can expand production scale, improve breeding conditions, improve production efficiency, further increase economic benefits, and truly become the welfare of the vast number of breeding households.

As a major agricultural province with developed animal husbandry, Shandong Branch of Agricultural Bank of China actively cooperates with the Rural Revitalization Finance Department of the head office, Agricultural Bank of China Jinke, and other technology companies to achieve groundbreaking breakthroughs in the “scenario+finance” smart animal husbandry model. By deploying intelligent ear tags and gateways, and relying on the regulatory platform to connect and transmit data with the Agricultural Bank of China C3 system, the implementation of beef cattle regulatory scenarios has led to the implementation of intelligent recognition of live beef cattle based on the Internet of Things in the system. The system has pioneered the intelligent livestock scene for facial feature recognition of cattle. Utilizing “cow” face recognition technology to achieve unique recognition of cow biometrics, relying on high-definition cameras and intelligent gateways to achieve online inventory of cow quantity, and achieving the first “smart animal husbandry loan” launch based on biological facial uniqueness recognition.

In recent years, Agricultural Bank of China Shandong Branch has focused on the digital transformation of “agriculture, rural areas, and farmers”, using the “scenario+finance” model to comprehensively assist in the construction of digital rural areas. The bank has launched a “three capital” management platform to promote the reform of rural collective property rights system. By combining the head office’s “e-push customer” system with the branch’s characteristic product “Qilu Fumin Loan”, the system has pioneered the branch’s characteristic loan customer recommendation process, achieving online processing of “Qilu Fumin Loan” application, approval, and confirmation. The process is closed-loop, compressing the loan promotion and circulation time that originally took several weeks to a few working days, truly achieving the goal of “allowing more information to travel and less people to travel”. In addition, the bank is the first financial industry in the province to launch a smart platform for socialized agricultural services, supporting moderate scale operation of agriculture, expanding the new path of rural revitalization with “smart+”, and assisting in the construction of digital rural areas.