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Inclusive finance | Technology empowers Shanghai Bank’s “Grain Baitiao” to help rural revitalization

Inclusive finance | Technology empowers Shanghai Bank’s “Grain Baitiao” to help rural revitalization

“Farmers like us with low incomes and no guarantees can also obtain financial support from banks. Thanks to the ‘grain I-Tiao’ from Shanghai Bank, it is easy to apply and receive timely payment.” Right now, the demand for feed is booming. Lao Wang is a self-employed feed distributor in Wuzhong City. Since his previous payment has not come due, he is in urgent need of cash flow. Thanks to the “grain memo” from the Bank of Shanghai, his urgent need has been solved. .

  “Agriculture + Technology” Innovation Empowerment

  Join forces with platform to serve farmers

“Grain Baitiao” is the first exclusive financial product created by the Shibei Branch of the Bank of Shanghai and “Liangbaba”, a one-stop service platform for grain circulation, based on “agriculture + technology” and serving the majority of small, medium and micro enterprises serving the grain production and circulation links. Different from the traditional offline credit business, it directly connects the data between the Bank of Shanghai and the “Liang Baba” platform, enabling the platform borrower’s purchase orders and credit extensions to be interconnected in real time. The borrower applies when picking up the goods and placing the order on “Liang Baba” Baitiao Payment and banks can automatically make real-time payments in seconds, and downstream customer order financing can be purely online and can be approved and withdrawn at any time in seconds.

In just over half a year since its official launch, “Grain Baitiao” has served more than 200 farmers and buyers across the country, with actual loans exceeding 200 million yuan.

  “Risk control + efficiency” professional development

  Accurately solve financing problems

The difficulty in rural financial services lies in the imperfect credit system. Some farmers operate on a small scale and lack effective guarantees, making them “vulnerable groups” in daily financing. “Grain Baitiao” relies on the Bank of Shanghai’s years of digital transformation to innovate the scenario-based transaction data and business collaborative management data of the “Grain Baba” platform to form a risk control management model, realizing supply chain financial services that organically combine “scenario + product + risk control” model.

For the business end of the platform, “Grain Iotiao” makes the entire circulation chain more flexible and efficient, ensuring stable supply chain operations and timely payment by platform buyers to avoid credit risks; the realization of online loan approval also effectively reduces platform operations cost. In terms of user experience, relying on the information flow, logistics, and capital flow of the platform, “Grain Baitiao” allows bank funds to flow directly to a large number of small, medium and micro customers and front-line farmers, solving their problems of difficult and expensive financing to the greatest extent, and mobilizing farmers The initiative in production and operation will promote the reduction of financing costs of rural business entities and improve the efficiency of rural revitalization financial services.

With the deepening of the digital age and the development of financial technology and digital technology, financial services are breaking through the limitations of physical outlets and extending to rural areas more conveniently and efficiently. In the future, Bank of Shanghai will continue to rely on financial technology to empower business development, continue to introduce practical and new measures, continue to increase rural financial supply, provide more practical and timely financial services for rural agriculture, and improve the accuracy of financial services for rural revitalization. and responsiveness to guide financial flows to better support rural construction and industrial revitalization.

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