Business Daily Media

PowerCred prepares for Southeast Asia expansion with Google Cloud and Searce

Through collaborations with Searce and Google Cloud, PowerCred achieved significant savings, ISO 27001 and Kominfo certifications, and enabled stronger security within six months

SINGAPORE - Media OutReach Newswire - 6 December 2023 - PowerCred, a one-stop API suite solving complex lending and underwriting issues by helping lenders build a comprehensive borrower profile, garnered cost savings while obtaining compliance certifications and bolstering security through integration with Google Cloud.

This move was facilitated through its partnership with global technology consulting firm, Searce.

"As we set our sights on expanding across Southeast Asia, Google Cloud has been invaluable in priming us for the next stage in our growth, especially in evolving our capability with the power of generative AI (gen AI). To get to this point, we also leaned heavily on our partnership with Searce, which allowed us to scale, comply with regulations, and optimize costs effectively. These efficiencies have positioned us for success and enabled significant customer growth in the region."

“I extend my heartfelt gratitude to the incredible teams at Google Cloud and Searce for being instrumental in our journey. Their unwavering dedication and expertise have helped us build our platform and instilled in us the confidence to lead the industry. The collaboration with them has been an absolute delight, and I am excited about the limitless possibilities that lie ahead for PowerCred," said Shrinivas Deshmukh, Co-founder and Chief Technology Officer at PowerCred.

Together with Searce, PowerCred identified three key priorities in its search for a cloud provider as they planned for regional expansion – compliance, scalability, and cost-effectiveness. By achieving these priorities with Google Cloud, PowerCred is well-positioned to realize its ambitions of regional expansion.

Currently processing up to 0.5 million API calls annually across all of its partners, PowerCred already relies on AI-driven data processing for insights. To support this, BigQuery, Google Cloud’s serverless enterprise data warehouse, and other machine learning capabilities are being used to help PowerCred detect anomalous and fraudulent transactions in financial data with an impressive 99.8% accuracy. Searce played a pivotal role in PowerCred's cloud transformation journey. Searce’s deep knowledge of PowerCred’s key markets supported them to secure its ISO 27001 and Kominfo certifications, further building trust with its customers.

"At Searce, we are excited to stand alongside PowerCred in their mission to streamline intricate lending challenges. Our commitment mirrors theirs, as we provide unwavering assistance in crafting this solution on Google Cloud, ensuring both security and scalability while optimizing performance," said Yash Thakker, Associate Director of Cloud Services at Searce.

“Leaders in fintech and financial services are no longer just experimenting with gen AI, they are already building and rolling out their most innovative ideas. Every enterprise gen AI project is also really a data management and governance project in disguise. Together with Searce as a valued partner, we look forward to continuing to support companies like PowerCred, as they turn to advanced analytics and gen AI solutions to make complex data intuitively accessible, accelerate business process automation, and reimagine the customer experience – all while ensuring they have full control and segregation of their proprietary data, code, and intellectual property, with zero data leakage,” said Jayotika Mohan, Head of Go To Market, Small and Medium Businesses, Asia Pacific, Google Cloud.

Throughout the transformation journey, Searce offered continuous assistance, from infrastructure setup to ensuring compliance with local regulations. Their reliable partnership helped PowerCred overcome challenges and maintain smooth operations.

Hashtag: #Searce #PowerCred



The issuer is solely responsible for the content of this announcement.

About PowerCred

PowerCred simplifies complex lending issues by creating a seamless onboarding and underwriting stack that helps lenders validate their customers' identity and access real-time intelligence to mitigate risk. It has ISO27001 certification and is leveraged by clients across retail and SME lending with use cases across merchant financing, invoice financing auto-lending, cash loans and more. Founded in 2022, PowerCred is headquartered in Singapore, with operations extending to Indonesia and Vietnam. For more information, visit.

About Searce

Founded in 2004, Searce is a modern technology consulting firm that empowers clients to futurify their businesses by leveraging Cloud, AI and analytics. Searce provides deep technical consulting, hands-on implementation and 24/7 cloud, data, ML & business ops, enabling the digital transformation across enterprises globally. Driven by an engineering excellence mindset, Searce delivers intelligent, impactful, and futuristic business outcomes.

News from Asia

Newway Launches New Indoor Environmental Quality (IEQ) Laboratory

SINGAPORE - Media OutReach Newswire - 16 October 2024 – Homegrown air conditioning specialists, Newway SG, demonstrates a strong commitment to managing the impacts of indoor air quality (I...

JustMarkets Hosts a Golden Diwali Trading Contest

KUALA LUMPUR, MALAYSIA / NEW DELHI, INDIA - Media OutReach Newswire - 16 October 2024 - The multi-asset broker JustMarkets proudly presents its Golden Diwali Trading Contest, offering traders a c...

ATFX Announces Strategic Investment in Spark Systems to Enhance Institutional Offerings

LONDON, UNITED KINGDOM - Media OutReach Newswire - 8 October 2024 - ATFX is pleased to announce its strategic investment in Spark Systems, a next generation, institutional-grade eFX trading platfo...

Sahm Capital Among the First Batch of Companies to Participate in Transformative Capital Management IPO Project

RIYADH, SAUDI ARABIA - Media OutReach Newswire - 16 October 2024 - Sahm Capital, a CMA fully licensed financial company, proudly announces its position as the first batch of companies to parti...

VT Markets Q4 Gold Outlook: Anticipate a "Gold Frenzy"

Q3 Gold Performance Overview HONG KONG SAR - Media OutReach Newswire - 16 October 2024 - In the third quarter of 2024, gold prices demonstrated remarkable volatility, perhaps reflective of the mar...

Sahm Capital Introduces Index Option Trading to Empower Saudi Investors

RIYADH, SAUDI ARABIA - Media OutReach Newswire - 16 October 2024 - Sahm Capital proudly announces the launch of index option trading, a pivotal addition to its suite of services catering to the di...

Population Change in Asia is Set to Transform Thailand’s Real Estate Sector in Coming Years, says Proud Real Estate

BANGKOK, THAILAND - Media OutReach Newswire - 16 October 2024 - Thailand's real estate sector, estimated to be worth US 2 trillion, is on the brink of significant transformation, driven by th...

Johnson Electric and Aegis Sortation Announce Distribution Partnership

Aegis Sortation becomes exclusive technology distributor for Johnson Electric in the North American market VANDALIA, US - Media OutReach Newswire - 16 October 2024 - Johnson Electric, a global le...

Cushman & Wakefield responses to the Policy Address 2024/25

HONG KONG SAR - Media OutReach Newswire - 16 October 2024 - Response to the Policy Address 2024/25 by KK Chiu, International Director, Chief Executive, Greater China of Cushman & Wakefield: ...

Policy Address by Hong Kong SAR’s Chief Executive John Lee: Reform for Enhancing Development and Building Our Future Together

HONG KONG SAR - Media OutReach Newswire - 16 October 2024 - John Lee, Chief Executive of the Hong Kong Special Administrative Region today (October 16) announced his third Policy Address entitled ...

Sydney Rain Bombs Could Be On The Increase

Motorway closures, forced evacuations, and flooding – Sydney has seen it all, including the recent weather event that has been dubbed the Taylor Swi...

Property

5 most damaging blunders businesses are making

One of Australia’s leading online media agencies, Search Results, has released a list of the 5 most damaging blunders businesses are making today.   S...

Business Training

How to market your business to reach more customers

In today's competitive business world, it's essential to have a solid marketing strategy to reach more customers and grow your business. Whether you...

Business Training

Legal Fees for Selling a House

When you’re looking to sell a house, there are a number of different things you need to take into account before you can do that. One of the main ...

Property

More training for coffee making than property sales: REINSW

Sydney 9 May 2016. An overhaul of education and training standards for the real estate profession must take place to help prevent illegal activities, ...

Business Training

6 Things You Need to Consider When Looking for A Company Car

Setting up a company car is a big decision and one that can have far-reaching consequences for your business, particularly if you choose the wrong o...

Business Training