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OCEN 4.0

The OCEN model has been being built incrementally in phases, with reinforced learnings from each of the previous pilots.

OCEN 4.0 is the latest implementation, versioned 4.0 for its API specification. The goal for OCEN 4.0 is to build an ecosystem of participants that creates a cambrian explosion of cash-flow based loan products across different sectors and different types of borrowers. This builds on previous pilots with the following key changes:

  1. Partipant Roles: OCEN 4.0 adds new specialized participant roles to promote specialization and to enhance system efficiency. For example, by establishing a local network of participants that can help with KYC, Disbursement, Collections and Data for underwriting, the burden on lenders is reduced, resulting in increased credit accessibility in underprivileged areas.

  2. Registries: OCEN 4.0 introduces two separate registries - Participant Registry for Participants and Product Registry for Products, that are maintained via SROs. The registries allow for creation and discoverability of new products in the ecosystem that can served by a network of participants. The SRO in this model ensures a strong dispute resolution system via authorized mediation.

  3. Product Networks: OCEN 4.0 introduces the notion of a Product Network for serving a product. The Product Network enables a group of different participants to come together to serve a particular Product to a set of borrowers via a Loan Agent. LAs will create & manage Product Network while Lenders will create the Products. All participants can browse the Products and Product Network on the Product Registry and collaborate using Product Network.

  4. OCEN 4.0 APIs: The previous sepcification is also updated such that the APIs across various products, actions and roles require minimal integration effort. The APIs across all participants are standardized so that a one-time integration can unlock future collaborations with new parties to serve new products.