OCEN sparked much interest in the financial world after the global economy was put on a ventilator during the pandemic. It was first introduced as a part of IndiaStack by Infosys CEO Nandan Nilekani in 2020 and is still a hot topic today. Simply defined, OCEN (open credit enabled network) is an application that intends […]
Towards a New Digital Empowerment: An OCEN of Possibilities
With the potential to disrupt the traditional lending landscape, OCEN is an ocean of possibilities. OCEN is what we would call – financial inclusion in an absolute sense. It aims to render the objective of delivering credit to small businesses. MSMEs of India are credit deprived, which poses a challenge for the growth-led economy we […]
Can Fintech Innovations Bridge India’s Financial Inclusion Divide?
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 frameworks […]
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 […]