In the past decade, India has witnessed a quantum leap in the fintech industry. Fintech funding grew exponentially in the last few years, and after the COVID-19 pandemic, the industry became the blue-eyed boy of economies. Of the total 2,100 fintech entrees in operation, 67 per cent of them started operations in the last five years. […]
OCEN – The Way Ahead for Digital Lending and MSMEs
Open Credit Enablement Network, a.k.a., OCEN is the new buzzword in the financial lending space. OCEN, launched in July 2020, is an open protocol infrastructure between Loan Service Providers such as e-commerce players and FinTechs and mainstream lenders such as banks and NBFCs. The OCEN framework aims to put a set of protocols and framework […]
Can OCEN Ecosystem Lead to a New Collaborative Lending Order?
After the runaway success of the Unified Payments Interface (UPI) mobile payments platform, India is moving forward with the next stage of digitising its financial services sector. The opportunities are immense but so are the challenges. Most Indian lenders have been hamstrung by a growing NPA burden and the focus has shifted to the underfunded […]