The Partnership Is To Drive Working Capital Tech Innovation for Banks
FinTech BizNews Service
Mumbai, 5 December 2024: CredAble, a global working capital tech platform, has partnered with digital lending innovator PowerCred to build a strong global ecosystem of working capital financing technology for banks and financial institutions in Indonesia.
This collaboration marks a pivotal milestone for CredAble. It aligns with the company’s strategic vision of expanding its presence in the APAC region and building a globally integrated yet locally relevant tech-enabled platform.
The partnership will leverage CredAble’s market-leading expertise in creating advanced working capital tech platforms and PowerCred’s extensive understanding of Indonesia’s financial services landscape and expertise in risk intelligence.
Together, the companies are developing innovative solutions tailored to meet regional compliance requirements while maintaining global scalability.
Moreover, the two companies are teaming up to ensure quick onboarding, efficient underwriting processes, and robust authentication systems by integrating with local Digital Public Infrastructure (DPI) frameworks and leveraging API-driven capabilities.
CredAble and PowerCred aim to overhaul banking operations by digitising processes and significantly lowering Turnaround Times (TAT). Their partnership strengthens credit risk evaluation and underwriting modules, delivering tangible advantages for players across supply chain networks. By utilising advanced bank statement analysis, ID verification tools, and alternative data sources integrated with local DPI and its extended capabilities—this collaboration ensures smarter, faster credit decisioning.
The partnership is also a great start for CredAble as the company looks to fuel its planned expansion into Indonesia, further building a sustainable and scalable technological foundation for global growth.
Satyam Agrawal, Global Head of Product & Retail Business Lending, MD ASEAN & ME of CredAble, commented on the partnership, saying, “Our partnership with PowerCred represents a crucial step in our mission to create a globally interconnected supply chain financing ecosystem. Leveraging our advanced tech solutions alongside PowerCred’s regional capabilities, we are accelerating financial inclusion, redefining lending processes, and helping banks and financial institutions to exceed client expectations."
Kunal Goel, CEO of PowerCred, added, “Partnering with CredAble strengthens our vision of building compliant, efficient, and easily accessible financial solutions for Indonesia and the South-East Asian market at large. This collaboration enables us to combine global best practices with local innovation and set new standards of excellence in supply chain financing.”
CredAble’s entry into Indonesian markets highlights its commitment to collaborating with new-age FinTech players like PowerCred to prioritise the delivery of innovative, localised services. PowerCred’s local expertise further enhances the partnership’s ability to build region-specific solutions and speed up digital transformation for banks and financial institutions.
The partnership also sets the stage for future collaborations in new geographies, aimed at creating an interconnected global network for supply chain finance and digital lending technology. By working with regional leaders, CredAble ensures that its solutions remain both adaptable and impactful in diverse financial ecosystems.
