Credit Democratisation Alliance or CredAll is a collective of ecosystem players who share a common purpose - to democratise access to affordable credit for small businesses and individuals.
At CredAll, we are responsible for driving the awareness and adoption of standardized Application Programming Interfaces (APIs) that facilitate digital lending. The APIs are called the Open Credit Enablement Network or OCEN. There are many lending processes that have not been uniformly automated. OCEN's APIs standardize these so that ecosystem players like loan service providers (LSPs) and lenders can work together to create all-digital lending flows over the life cycle of the loan without needing custom integrations.
All-digital loans reduce the cost of acquisition and hence enable cash flow based lending (sachet sized finance) which was previously unviable when manual processes were involved.