For the first time, a Russian project won the international innovation competition Eye on Innovation Award

17 November 2020

Ecosystem of Russian Agricultural Bank (RusAg, the Bank) “Svoye Fermerstvo” for the digitalization of small and medium-sized farms has become one of the winners of the prestigious international innovation competition Gartner Eye on Innovation Award in the category “Financial Services 2020”. It became the first project from Russia to win the final of the award for its entire existence.

For the right to name the ecosystem “Svoye Fermerstvo” the most innovative solution in Europe, the Middle East and Africa, RusAg fought with such companies as the international bank Deutsche Bank, the French insurance group Axa, the largest bank in the Middle East region from Bahrain - Bank ABC and the most digital bank of Poland - mbank.

In the competition final, which took place on 16 November in Barcelona, the ecosystem took first place in the vote of the international business community and second in the vote of the jury. Thus, RusAg became one of the winners of the award, along with ABC Bank and AXA Insurance Group.

“Agriculture is one of the fastest growing industries in the world. At the same time, agricultural sector has enormous potential for the implementation of digital solutions. The main task of the Bank’s ecosystem “Svoye Fermerstvo” is to become a guide of modern technologies for small and medium-sized farms. For the first time, our ecosystem has received international recognition. This once again underlines the fact that the agricultural sector is very promising from the point of view of the introduction of new technologies. We will continue to develop the functionality and convenience of the platform: by the end of the year, the number of services provided on the platform of “Svoye Fermerstvo” will increase to 40,” - said Boris Listov, Chairman of the Board of Russian Agricultural Bank.

The ecosystem “Svoye Fermerstvo” from RusAg combines digital solutions and services that will allow small farms to automate the settlement of everyday tasks at no additional cost and focus on business growth.

The main block of information services of the ecosystem is agricultural technology solutions that help the farmer to reduce costs and increase productivity. These are biotechnologies and robotics, Internet of things technologies, precision agriculture based on satellite images, as well as the latest agricultural management technologies for monitoring the state of crops, forecasting, planning and accounting of operations in agriculture. Also, the ecosystem of the Bank makes it easier for farmers to receive qualified veterinary care by providing it in a convenient online format.

Ecosystem services also help in promoting farmers’ goods and services. Thus, farmers using the platform can independently offer their goods to a wide range of suppliers. In addition, in order to increase business profitability, the Bank’s ecosystem provides a service that allows farmers to unleash their tourism potential and become real experts in the agro-tourism industry. The platform also allows you to solve the personnel issue using an aggregator of resumes and vacancies in the agricultural sector.