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Digital lending platform PowerCred has collaborated with CredAble to support working capital technology innovation in Indonesia’s banking sector.

This alliance is expected to revolutionise the way banks and financial institutions manage working capital financing in the region.

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Working capital technology provider CredAble is expanding its footprint in the Asia–Pacific (APAC) region through this partnership.

The collaboration is focused on digitising banking operations, reducing turnaround times (TAT), and enhancing credit risk evaluation and underwriting processes.

By integrating with Indonesia’s Digital Public Infrastructure and leveraging API-driven capabilities, CredAble and PowerCred are working to ensure quick onboarding, efficient underwriting, and advanced authentication systems.

PowerCred’s local expertise will help develop region-specific solutions and accelerate the digital transformation of banks and financial institutions.

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PowerCred CEO Kunal Goel said: “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.”

CredAble product and retail business lending global head, ASEAN and ME MD Satyam Agrawal said: “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.”

Founded in March 2017 by Nirav Choksi and Ram Kewalramani, CredAble is said to be India’s largest working capital tech platform, facilitating over $8bn annually in working capital.

The platform serves over 175 corporate customers, more than 350,000 small business borrowers, and more than 100 financial institutions and banks worldwide.

In July this year, Finastra revealed its collaboration with CredAble to enhance the capabilities of Finastra Trade Innovation.