Cultivating Innovation: A Financial Institution Leverages Geospatial Data to Reimagine Agricultural Services

A forward-thinking financial institution with a strong presence in the agricultural sector sought to leverage geospatial data to drive innovation and expand its offerings in the Agritech space.

Committed to exploring new business models and supporting sustainable agriculture, the institution embarked on an ambitious project to develop a platform that provides deeper insights into agricultural land, crop health, and biomass.

Altalis, a provider of comprehensive geospatial data, played an important role in this project by providing foundational land parcel data.

Challenges

Data as a Driver: Unlocking Innovation and Value in Agricultural Banking

Evolving Beyond Commoditized Banking

Recognizing the increasing commoditization of traditional banking products, the institution sought to differentiate its offerings by exploring alternative business models and new market opportunities in the Agritech space. This required a deeper understanding of the agricultural landscape and innovative solutions to address evolving customer needs.

Developing Data-driven Agricultural Insights

The institution needed to develop a deeper, data-driven understanding of agricultural practices and land use to serve existing clients better, prospect new ones, and explore new markets like carbon credits. This included accessing and integrating detailed information on land parcels, crop health, biomass, and other relevant factors to generate actionable insights.

Creating Value-added Solutions for Agricultural Clients

The institution aimed to leverage geospatial data to develop innovative, value-added solutions for its agricultural clients, such as precision agriculture tools, sustainability assessments, and carbon credit programs. This required access to high-quality data, efficient data integration capabilities, and the combination of land data with other technologies and platforms.

"The base layer data from Altalis has helped us uncover patterns, assess trends, and drive more informed decision-making."

Managing Director Software Development

Financial Institution

Solutions

Altalis: Providing the Foundation for Agritech with Comprehensive Land Data

Altalis provided the financial institution with the following solutions to address these challenges:

Foundational Land Parcel Data

Altalis supplied the financial institution with Alberta province-wide Title Mapping data, which includes ownership parcel boundaries with associated LINC Identifiers (Land Identifier Numeric Code). This data served as the cornerstone of the institution's natural capital database (information on the economic value of natural assets such as land, water, carbon footprint, and renewable energy).

API Access for Streamlined Data Integration

The financial institution's data subscription included API (Application Programming Interface) access, allowing the organization to automate data retrieval and streamline integration with existing systems.

High-quality Data and Documentation

Altalis provided accurate and well-documented data, facilitating a smooth implementation process for the development team.

"Altalis' Title data is a foundational layer... it's how we can connect to our customer."

Data Scientist

Financial Institution

Results

Geospatial Data: Reshaping the Future of Finance and Agriculture

By leveraging Altalis’ geospatial data solutions, the financial institution achieved the following outcomes:

Established a Foundation for Innovation: Altalis’ data enabled the institution to build a robust natural capital database, the foundation for its Agritech platform.
Enhanced Customer Insights: Altalis' detailed land information allowed the institution to understand its agricultural clients and their needs better.
Streamlined Data Integration: API access to Altalis' data facilitated efficient data integration and analysis, saving time and resources.
Enabled the Research and Development of New Products and Services: The Agritech platform, powered by Altalis' data, is positioning itself to offer new innovative solutions to farmers, such as precision agriculture tools, sustainability assessments, and carbon credit programs.

"All of a sudden, with Altalis data, we were able to provide more insights to our clients than we could ever before."

Managing Director Software Development

Financial Institution

About Altalis – www.altalis.com

Established in 1998, we have been the authoritative source of spatial data and imagery in Alberta for over 25 years.  We are the leading data management, maintenance, and distribution company in Alberta, and ensure the continued updating, re-engineering, storage, distribution, value-added redistribution, and general management of primary provincial mapping datasets. Our goal is to make mapping products more available, accessible, accurate, and affordable.  We are your trusted source of spatial data. 

Our state-of-the-art webstore, Altalis.com, is powered by AWS enabling reliable, fast and secure data deliveries. Customers can explore, view, and acquire spatial data products both paid and open data with the click of a button. We take pride in providing exceptional customer service and building long-term relationships with our clients. Our experienced customer service team is available to answer any questions you may have about finding the right data to meet your needs.