Fast Decision Making for Small Agricultural Loans
Open Innovation Challenge:
Bremer Bank is seeking ideas to implement faster decisions for small agriculture loans within farmland, lines of credit, and term loans. Innovative ways to underwrite small risk in agriculture will allow for faster decisions and a better customer experience.
Reason for Seeking External Innovation Partnership:
Bremer Bank is seeking easier access to quick capital for smaller sized farm operations or larger operations who need capital quickly. This will decrease the lender’s resources needed to complete a transaction.
Scope of Solution Space:
We are seeking early idea solutions to further research and perform due diligence upon before scoping out a proof of concept. Valuable solutions may include automation, fast collateral valuations, non-biased scoring, data/document collection or risk mitigation.
Solutions Not of Interest:
We are not interested in one-off solutions, complicated risk metrics or manual entry.
Company Background:
Bremer Bank has roots in the places where we live and work that go back to 1943, and a history of stepping up for our customers and communities that begins with our founder. Otto Bremer believed that if banks helped businesses in good times and bad, communities would thrive. Today, we’re proud to work with the people who grow our food, build our economy, and serve our neighbors. We offer banking, mortgage, investment, wealth management, trust and insurance in Minnesota, North Dakota and Wisconsin. We’re here to help you solve your toughest problems, seize your biggest opportunities, and achieve success on your terms, now and in the future.