ePN · Consumer Credit DemoThe bearer keeps the asset.
The bank still lends.
An Electronic Promissory Note (ePN) turns a Fidnt-registered data right into a perfected, MLETR-aligned instrument a bank can hold as collateral. Issued in seconds. Signed with post-quantum cryptography. Court-admissible at the click of a QR.
Every ePN has five surfaces — pick one
This page
What an ePN is, why it exists, who it serves.
Formal instrument →
Long-bond court-admissible PN with terms, signature, audit chain.
Mobile pass →
What the bearer shows the loan officer · phone or PC.
Submit to bank →
3 channels: rail transfer · email · print in-branch.
PDF ↓
Long bond (8.5×13) pre-rendered. Ready to send or print.
Where it fits
The ePN is the rail’s consumer-credit workhorse. Four purposes today; more chartered each quarter.
Auto loans
Private-vehicle finance, brand-new or second-hand. Spread compression vs unsecured.
Salary loans
Bank-employee and FI-payroll-deduction credit. Lower rate, lower default.
SME credit
Single-owner working capital and equipment finance. PSE-listed acceptors too.
Home finance
Top-up loans against home data assets; not a substitute for the mortgage itself.
How issuance works
Five steps from Fidnt request to bank-held instrument. Every step generates a signed audit event.
Register
Bearer registers data right at Fidnt; FPIC captured.
Perfect
Right perfected under RA 11057 with priority timestamp.
Issue
The ePN is issued on the registry, referencing the perfected right — recorded and signed by ISET.
Control
Counterparty bank takes MLETR-aligned §10 control of the instrument.
Return
Full repayment → control returns to bearer. Asset never surrendered.
Settlement rail
The registry stands alone. On-chain control is an option the counterparties choose — not a dependency.
Statutory basis
No new law required. Every layer is anchored on an existing statute or model law.
The signature scheme
Every lifecycle event on every ePN is signed with Post-quantum (NIST FIPS 204) (NIST FIPS 204 · post-quantum). The signing public key is published at /.well-known/ml-dsa65-public.json. Any party with the public key can re-verify an audit record indefinitely — even if ISET is offline.
See a sample ePN end-to-end.
Open the formal instrument, scan the QR with your phone, watch the lender-facing verifier confirm the post-quantum signature in milliseconds.