How do we ensure better lending during the cost of living crisis? Accept rates for credit union loans have fallen significantly over the last year. This can be partly explained by the increasing indebtedness of borrowers. The average non-mortgage debt of credit union applicants rose by 14% in the … Read More about Better lending during the cost of living crisis
Buy Now Pay Later for Credit Union Borrowers
We can now see how Buy Now Pay Later for Credit Union borrowers is impacting their credit reports. There was a big upload of Buy Now Pay Later (BNPL) agreements to the credit bureau at the end of January. These data are now returned to our decision engine. Currently BNPL does not have an impact … Read More about Buy Now Pay Later for Credit Union Borrowers
Combining credit bureau and open banking data
Combining credit bureau and open banking data is a key advantage of the NestEgg decision engine. Because of this loans officers only need to be in one screen to be able to compare two important sets of data. Read on to see how this works in practice. Combining credit bureau and open banking data … Read More about Combining credit bureau and open banking data
New feature: open banking affordability charts
NestEgg has launched a new feature: open banking affordability charts. The cost-of-living crisis is developing into a recession. Of course, this isn’t good news for responsible lenders. Because of this, it’s more important than ever to navigate data so those that are struggling are spotted early … Read More about New feature: open banking affordability charts
Opening up access to affordable credit
NestEgg’s new platform is opening up access to affordable credit, helping responsible lenders grow their loan books. Affordable credit providers could grow so much more quickly. Credit unions and CDFIs just need to make themselves easier to find and apply to. Growth potential For the risk … Read More about Opening up access to affordable credit
NestEgg: new features for 2023
NestEgg closed the year, looking forward to 2023. Our User Group of 30+ responsible lenders helped us prioritise the most important new features for Q1/2023. Ever-conscious of a cost of living crisis that is fast developing into a recession, the focus was supporting responsible lenders to make … Read More about NestEgg: new features for 2023