News

Defi revolutionizes lending practice in Southeast Asia with state-of-art blockchain-based credit platform

SINGAPORE - Media
OutReach
 - 11 March 2019 - Nearly 400 million people in Southeast Asia
will gain access to banking systems in the coming decades, and good data is crucial
to achieve such goal. For lending institutions, the current data collection
process is expensive, inefficient and full of privacy concerns. An increasing
need to assess creditworthiness against the backdrop of secure and authentic
data, nonetheless presents unique opportunities to entrepreneurs to deploy
innovative solutions.


Defi is a highly anticipated project which
makes authentic and reliable credit risk data available to lenders. Defi's
system allows multiple lending institutions to pool their borrowers' data
through a highly secure cross-enterprise data collaboration platform. The
underlying blockchain-based protocol ensures that the data is decentralized and
not owned by a single party. The platform also utilizes trusted computing
technology which takes privacy and information security protection to the next
level. This creates ideal conditions for lending institutions to extract value
from data securely.


With data from
more than 10 million borrowers fro
m Southeast Asia, Def is cementing partnerships
at a rapid pace. Lending companies, by plugging their data to the system,
benefit too in the form of rewards and free queries on borrowers' credit
background. But Defi is not satisfied with just this. Katherine Shen, the CEO
and co-founder wants to launch a product suite for both lending institutions
and individuals. "We already have more than 1 million fraud data items in the
network. In the coming months, we will launch more products and platforms that
would enable lenders to identify over-borrowers, calculate credit scores using
scientifically advanced and flexible models, and identify product fit for
specific customers using big data. We are also working on data wallet apps for
individuals to make available a wide range of financial services", says Katherine.

Relevant and strong products, combined with
vast opportunities in the Southeast Asia has enabled Defi to already enjoy
support from blockchain giants like Huobi. Huobi is supporting Defi to build
business partnerships with industry leaders and create an active community.


Defi seems to be at the fore-front of a
revolution where authentic, secure, clean and comprehensive data would
transform how credit is granted and availed presently. This resultant stimulus
in access to credit would boost financial inclusion and catalyze economic
growth. Everyone wins!

 

Website: www.defilab.com

Email: [email protected]

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