The consumer credit industry is opaque, inefficient and no longer fit for purpose.
NestEgg empowers individuals to take control of their own financial identities using data relevant to their circumstances.
Transparent matching algorithms make it easy for individuals to apply for credit and cost-effective for responsible lenders to assess an applicant’s credit worthiness.
Fairer access to credit
Lenders turn down credit applicants all the time. Sometimes it’s the right thing to do. But often the lender is missing a trick. And an opportunity to help a borrower in need.
To make matters worse, the lender rarely explains the reasons for a decline to the applicant. Is it any wonder a borrower doesn’t know how to improve their chances next time?
Meanwhile, the applicant must go without, or be forced to pay an exorbitant interest rate to a high cost lender. They are pushed deeper into debt. None the wiser, the cycle repeats itself.
There’s a better way...
NestEgg puts the applicant in control of their own financial identity and credit profile. They get to decide what to share and with whom.
Our tools make it easy for an individual to improve their financial identity. Data from a wide range of sources provides a comprehensive picture of each person's unique circumstances.
We combine traditional credit data with income and expenditure provided through Open Banking. Verified social media and reputational scores deliver smarter identity verification.
Democratising consumer credit
Our mission is to democratise consumer credit by putting people in charge of their financial identity. We will increase access to responsible credit and reduce the interest paid by lower income households.
At the same time our technology expands the online reach of responsible lenders so they can lend at a lower cost to more people.
If you’re a lender, in money advice, community finance, social justice campaigning, or just plain interested then we’d like to talk with you. Contact us here