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Open Credit Enablement Network (OCEN)

  • Posted By
    10Pointer
  • Categories
    Economy
  • Published
    25th Jul, 2020
  • 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.

Verifying, please be patient.