Banking Innovation of the Month: Bradesco E-agro

The Qorus-Accenture’s Banking Innovation of the Month award for July goes to Bradesco E-agro, a comprehensive digital platform designed to meet the needs of rural producers and revolutionize the agricultural sector in Brazil.

Banco Bradesco has a long track record of innovative and inclusive solutions for customers in Brazil, from using boats to serve remote communities to pioneering open finance payment tools. Their latest offering, Bradesco E-agro, is a groundbreaking initiative to unify financial and non-financial products and services for the country’s millions of rural producers in a single digital platform, offering credit, technical assistance, data information, analysis, and an integrated marketplace. 

E-agro's mission is to become the digital partner of agribusiness in Brazil, providing products and services for the day-to-day activities of rural producers and accompanying them throughout their journey. The platform leverages Bradesco's industry expertise along with cutting edge AI to simplify the lives of farmers, drive agribusiness forward and secure the bank’s leading position in this sector.

Launched in January, the first phase of the offering is focused on simplifying access to credit for rural producers, with Brazil’s first 100% digital product for the sector. With a streamlined end-to-end digital journey, farmers can now apply for and secure credit without visiting a physical branch – a boon for the many who live and work in remote areas. E-agro guides users through the entire process, using advanced AI to verify data and eliminate the need for notaries or representatives for property identification. 

This credit product, known as the CPR (Cédula de Produto Rural), is one of the main agricultural securities representing the promise of delivery of rural products in Brazil. In addition to the frictionless digital journey, E-agro’s CPR is exempt from tax on financial operations, offers more attractive rates and terms, and has a revolving limit that can be contracted at any stage of the project. The platform’s 24-hour virtual assistant can handle a wide range of queries, further reducing the need for call center interactions and branch visits.

In its second phase, E-agro has introduced a complete marketplace, designed to meet all the daily needs of producers, from inputs to machinery. Fully integrated with the credit application process, the newly launched marketplace already includes major brands in the sector. The goal is to become a one-stop shop that offers the best solutions in services, products, and partnerships for anyone involved in agribusiness. The E-agro ecosystem is not an exclusive solution for Bradesco clients: it was created for all rural producers, demonstrating the bank’s commitment to inclusivity.

Initial results are encouraging: since E-agro’s launch in January, the platform has recorded more than 15,000 visits and 2,000 unique users, and the virtual assistant has had more than 4,000 interactions, a significant timesaving in call center hours or branch visits. Some 30 pilot projects have further evidenced the market demand for the innovations offered, and the E-agro team have mapped out over 150 initiatives for improvements in products and services.

Bradesco Seguros has already taken the gold award in the Social, Sustainable & Responsible category of the recently held Qorus-Accenture Innovations in Insurance Awards 2023, and E-agro is yet another outstanding innovation from this leading Brazilian financial services group, demonstrating Bradesco’s agility and commitment to offering accessible and efficient solutions in banking and beyond. (Read the full case study here.)

Santander’s innovation will be automatically selected as a nominee for the Qorus-Accenture Banking Innovation Awards 2023. Submit your innovations on the Banking Innovation portal until 13th September. Participation is free of charge and open to all Qorus members.