How a Bank Monitors Agricultural Machinery and Other Property of Agricultural Borrowers Using the VIEWAPP Service
For a bank that finances agricultural enterprises, collateral control does not end after the loan is issued. Throughout the entire financing period, it is important to understand where the pledged property is located, whether it has been preserved, and what condition it is in. This is especially relevant for agricultural machinery, equipment, and other assets that are used in the operation of the farm, can move between sites, and require regular monitoring.
Traditionally, such tasks are handled through on-site inspections, documents from the borrower, and reports from responsible employees. However, with a large number of borrowers and objects, organizing regular inspections becomes labor-intensive and costly. The VIEWAPP service helps build systematic collateral monitoring through digital inspections — without the mandatory visit of a bank specialist to each object.
What tasks collateral monitoring solves in the agricultural sector
The collateral composition of an agricultural enterprise can vary: tractors, combine harvesters, trailed equipment, production installations, warehouse premises, and other objects. Each type of property has its own verification parameters.
When inspecting agricultural machinery, the bank can monitor its presence, appearance, completeness, and identification features. A digital inspection with data protection records the general condition of the machine and individual details, while additional questions in the inspection scenario help collect information required for a specific type of property.
For real estate and stationary equipment, the scenario may be different: photographs of the object and its individual parts, the condition of the premises, the presence of equipment, and other parameters provided for by the bank's procedure.
It is important that the inspection does not replace the assessment of the property's value or the verification of legal documents. It supplements them with up-to-date information on the actual condition of the collateral.
How to organize a digital inspection through VIEWAPP
The bank defines the verification scenario taking into account the type of property and its own monitoring requirements. It can include mandatory photographs, questions, and parameters that must be recorded by the borrower's employee or another designated participant.
The inspection follows a predefined sequence, and the results are received in a single system. The bank does not need to collect photographs from correspondence and manually compare materials from different sources: inspection data is available for centralized work.
At the same time, VIEWAPP records not only the images themselves. The platform uses data on time and geolocation, the sequence of shooting, and file integrity, as well as mechanisms for identifying possible anomalies. This helps assess the reliability of the received materials and highlight cases that require additional attention.
If, based on the inspection results, discrepancies are found, materials are insufficient, or there are signs of possible substitution, such a case can be sent for additional verification. Our practice shows that bank collateral monitoring with the VIEWAPP service can be transferred to a remote digital format almost entirely.
Why remote control is especially important in the agricultural sector
The specifics of agribusiness make on-site collateral control particularly costly. Agricultural machinery and other property may be distributed across several sites, farms, and remote territories. To check each object, the bank has to organize visits, spend employees' time on travel, and coordinate visits with the borrower. With a large number of objects, regular control requires significant resources, so remote inspections become a practical way to reduce costs and maintain up-to-date information on the collateral.
With VIEWAPP, it is possible to organize recurring monitoring procedures, taking into account seasonality and other features of agribusiness, use uniform requirements for collecting materials, and compare the results of different inspections. This helps maintain up-to-date information on the collateral throughout the loan term, rather than limiting it to a one-time check after the transaction is completed.
At the same time, the digital scenario does not necessarily have to be the same for all assets. For agricultural machinery, real estate, and equipment, different sets of photographs and questions can be provided that correspond to the characteristics of the objects and the bank's requirements.
Collateral control without unnecessary visits
Digital inspection helps the bank make property monitoring more regular and manageable. Instead of sending a specialist to each object, the bank receives structured materials from inspection participants and tools for verifying their reliability. On-site inspections are retained for cases where remote data is insufficient or a direct examination of the property is required.
VIEWAPP helps build a unified approach to collateral monitoring — from agricultural machinery to real estate and equipment. For the bank, this is an opportunity to organize control taking into account the type of property, the requirements of the credit process, and the specifics of the agricultural borrower's operations, as well as to achieve substantial savings on visits.