Terra Tech and PSB launched space monitoring of bank collateral

2021: Creation of space monitoring and geospatial analysis of property assets

TERRA TEH, a subsidiary of Russian Space Systems Holding and PJSC PROMSVYAZBANK (PSB) on June 18, 2021 announced the start of a joint project on integrated space monitoring and geospatial analysis of the bank's property assets. Within the framework of cooperation, a cloud geographic information service has been developed in the interests of PSB to monitor the construction of its own and collateral objects and land plots.

Remote Earth Sensing (DHS) and its services are a young tool for Russian financial market companies. At the same time, the development of geospatial data analysis systems opens up the possibility of their application in the field of audit, banking, insurance, investment and consulting.

The use of space monitoring will allow the bank to solve several problems at once - to improve the quality of assessment of borrowers and their projects, to reduce the costs of underwriting and control the targeted use of credit funds, which as a result ensures effective risk management in the implementation of large infrastructure projects. PSB plans to expand the use of geoinformation technologies in the processes of lending, project financing and property asset management, said Alexey Tryakin, deputy director of the administrative and organizational department of PSB.

PSB specialists, thanks to the decision data based on the DHS, quickly receive the necessary information to the analyst on the areas constructions and land use for making management and credit decisions, monitoring the fulfillment of the terms of the loan agreement and targeted spending of borrowed funds. Geoservice, combining ultra-high resolution space images with from the information databases bank and external sources, is implemented in the form of a web application and works including on mobile devices.

The global market for space geoservices for the financial sector is actively forming, showing annual growth. In international practice, space imagery materials are increasingly used by banks, financial institutions, insurance and consulting companies for evaluation and forecasting. We believe that in Russia this area has great potential and are very pleased with the results achieved in the framework of the start of cooperation with PSB, Director General of JSC TERRA TECH Milan Elerdova noted.

One of the tasks that was solved as part of the project is a space screening of the bank's land assets to assess their potential from the point of view of development. As a result of the work of the geoservice, each site, on the basis of a number of criteria, received its own score on the degree of its prospects for residential development or the construction of social infrastructure.

Thanks to the service, underwriting specialists, when making decisions on lending to agricultural producers, see in advance the expanded characteristics of the land that the farmer is ready to pledge.