A decision engine with free upgrades

NestEgg provides a decision engine with free upgrades.

Here’s a brief line-up of three recent and three forthcoming updates. Importantly, our lender-clients help prioritise development during their user group.

New features

1. Complete rule flexibility. Detailed rules enable lenders, for example, to set value limits for referring or declining defaults or County Court Judgments. Furthermore, there are lots of options for credit score cut offs,  insolvencies and missed payments.

As a result, it is really easy to align with your lending policy.

2. Unlimited addresses. Credit history doesn’t automatically follow a borrower when they move. Consequently, accounts can get ‘left behind’ at earlier addresses. Likewise, entering six years of address history is a hassle for a borrower trying to remember the postcode for a flat they lived in four years ago. Supersearch solves these problems because addresses are automatically searched.

One decision. Unlimited addresses. No extra cost.

3. Credit score reasons. Credit score can be hard for borrowers to understand. And it’s a complex three-digit number that can also baffle loan officers. Therefore, NestEgg’s new feature: credit score reasons, explains the factors that might be driving a credit score down.

Because of this, Loans Officers can better understand an important indicator of risk.

Forthcoming features

1. 12 months of Open Banking history puts recent spending into context. Capture longer-term trends and iron our seasonal fluctuations.

12 months’ data for the cost of one connection.

2. Applicant demographics provide insights into the socio-economic character of the borrower’s neighbourhood. This includes economic status, household income, susceptibility to unemployment and property value.

Applicant demographics provide context for each lending decision.

3. Associate information. Financial associates impact an applicant’s credit score. Where there’s an association (for example partners living in the same household), this can mean shared finances.

Because of this, loan officers can take into account the household’s situation at no extra cost, with no additional searches,

Read more about the benefits of a decision engine with free upgrades.

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Adrian Davies

Adrian is a co-founder at NestEgg. He is an alternative finance and credit union expert with extensive experience of start-ups, business development, IT, Target Operating Models and regulatory compliance. Adrian has 20 years’ experience in the responsible lending sector, supporting credit unions with innovative ideas so they can grow and meet member needs.

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