Open Credit Enablement Network (OCEN)
- Posted By
10Pointer
- Categories
Economy
- Published
25th Jul, 2020
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- Open Credit Enablement Network (OCEN), is a protocol infrastructure for the democratization of credit.
- It is developed by a think tank, Indian Software Products Industry Round Table (iSPIRT).
- It will mediate the interactions between loan service providers, usually fintech and mainstream lenders, including all large banks and NBFCs.
- Meanwhile, private equity and venture capital players, angel investors, high net worth individuals and others will also could be part of this exercise as investors.
- To start with, iSPIRT will work with lenders such as the State Bank of India.
- Former SEBI Chairman U. K. Sinha MSME Committee had recommended this architecture in 2019.
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