Fintech Company D3 Labs Targets Unbanked Segment Through Blockchain Adoption

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA – Financial technology (Fintech) company D3 Labs is optimistic that it can continue to expand its business in Indonesia through optimizing blockchain schemes.

D3 Labs CEO Chung Ying Lai said Indonesia is a very potential market share for digital financial services in the Southeast Asian region. According to him, there are still many people who have not been reached by conventional financial services.

"There are 81 percent of Indonesia's population who have not been served by financial services (unbanked)," he said in a written statement on Friday, March 24.

Therefore, continued Chung, the blockchain business model is perfect for solving this problem. It is stated that blockchain has the ability to streamline processes and optimize costs.

“With blockchain, financial transactions can be automated and eliminate the need for intermediaries thereby reducing the time and costs associated with traditional financial processes. This is especially important in Indonesia, where many people and businesses still face barriers to accessing financial services," he said.

Chung added, D3 Labs exists as a solution provider with a team of experienced professionals in the fields of finance, technology and blockchain.

“The main goal of the company is to make the financial system simpler, more accessible and safer for everyone. The strategy is to harness the power of blockchain technology to build innovative solutions that solve real-world problems," he stressed.

Meanwhile, the system designed by 3D Labs allows individuals and businesses to send and receive payments quickly, safely and at low cost anytime and anywhere without any restrictions.

"Blockchain technology has the potential to revolutionize the financial sector in Indonesia, making financial services more accessible, efficient and secure for businesses and individuals," he said.