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OCEN

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MSME Lending Ecosystem

OPEN CREDIT ENABLEMENT NETWORK

Get to know OCEN

OCEN is an initiative to unbundle lending and enable the creation of specialized entities, each specialized at one part of the job. Therefore, we envision the future of lending to be a partnership between multiple firms individually focused on specializes roles of sourcing/distribution, identity verification, underwriting, capital arrangement, recollections, etc.

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OCEN Mission

Mission

OCEN (Open Credit Enablement Network) aims at democratising the MSME lending ecosystem. The core philosophy is using open networks to reach out to maximum borrowers and lenders, with reduced risk, more transparency, strict control on funds (both end use & collections) and thus building a robust lending eco system.
OCEN Vision

Vision

Bridging the credit gap for the underserved MSMEs including the bottom of pyramid micro entrepreneurs by enabling cash flow-based financing, using consent driven architecture and leveraging information as a collateral.

OCEN Ecosystem

Lender

Lenders are the regulated entities that create and own the credit products. They work with other participants as part of a Product Network to serve the Borrower. The Loan-agent understands the borrowers' credit requirements and works with the lenders to create the product.

Loan-Agent (LA)

Agent of the borrower who helps the Borrower to select the best loan offer. Loan agent is a more inclusive term that encompasses both Borrower Agent (BA) and Lender Service Provider (LSP), spanning across the existing DLG model referred to as LSP and the emerging model in which BA operates as the agent of the borrower

Derived Data Partner (DDP)

A derived data provider is a collaborating partner within the network that furnishes supplementary data to the Lender, aiding in enhancing their underwriting engine with additional information.

Collections Partner (CP)

A Collections Partner is a network-affiliated collaborator designated by the Loan Agent (LA) to aid in the collection process. The lender retains the option to either opt for the Collections Partner or continue using their existing collection procedures.

Disbursement Partner (DP)

A Disbursement Partner (DP) is responsible for supporting purpose controlled products. This partner will establish integration with suppliers, retrieve their catalogue, and facilitate seamless direct payments to suppliers within the OCEN journey.

KYC Partner

A KYC partner is a collaborator selected by the Loan Agent (LA). This partner can be engaged for assisted KYC or any technology-related specialization available on the network. The lender retains the choice to employ the KYC partner within the network or continue with their existing procedures.

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OCEN

Our Objectives

  • Consistency with standardized protocols
Standardized OCEN APIs & Registries require minimal integration effort when integrating across products.
  • Building Trust
Introduction of Registries and Dispute Resolution System using techno legal approach enhances trust in the ecosystem
  • Customized Loan products
Ability to build tailored loan products with OCEN as per the need of the borrower cohort
  • Optimized Underwriting
End to end digital process with very low underwriting cost that allows for scaling credit to the masses.
  • PSL Fulfilment
Meeting the Priority sector lending targets with minimized credit risk and low cost.
  • Collaborative approach
Ability to partner and integrate with specialized service providers such as derived data providers, collections and disbursement partners with minimum effort to improve process efficiency.
  • Enhanced Discoverability
Ability to partner and integrate with specialized service providers such as derived data providers, collections and disbursement partners with minimum effort to improve process efficiency.

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