SINGAPORE - MediaOutReach - 11 March 2019 - Nearly 400 million people in Southeast Asiawill gain access to banking systems in the coming decades, and good data is crucialto achieve such goal. For lending institutions, the current data collectionprocess is expensive, inefficient and full of privacy concerns. An increasingneed to assess creditworthiness against the backdrop of secure and authenticdata, nonetheless presents unique opportunities to entrepreneurs to deployinnovative solutions.

Defi is a highly anticipated project whichmakes authentic and reliable credit risk data available to lenders. Defi'ssystem allows multiple lending institutions to pool their borrowers' datathrough a highly secure cross-enterprise data collaboration platform. Theunderlying blockchain-based protocol ensures that the data is decentralized andnot owned by a single party. The platform also utilizes trusted computingtechnology which takes privacy and information security protection to the nextlevel. This creates ideal conditions for lending institutions to extract valuefrom data securely.

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

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

Defi seems to be at the fore-front of arevolution where authentic, secure, clean and comprehensive data wouldtransform how credit is granted and availed presently. This resultant stimulusin access to credit would boost financial inclusion and catalyze economicgrowth. Everyone wins!

Website: www.defilab.com

Email: media@defilab.com