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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.

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