New feature: Display and organise credit accounts according to their status: Active, paid, missed payments and defaults. Benefits: Faster assessment of repayment problems. Easy to identify trends. Credit reports take a long time to read. Lots of different creditors displayed in no particular … Read More about NEW FEATURE: Pinpoint repayment problems instantly
There have been dozens of stories in the press about lost mortgage offers because of defaults on mobile phone contracts. Dreams of home-ownership in tatters. Or a higher price and fees via a broker await. Defaults are one of the most common reasons for refusing a home loan. And these marks stay … Read More about Mobile phone defaults: not always a bad thing?
Money comes in. Money goes out. Calculating disposable income is hard given our tendency to spend what we earn. The Office of National Statistics has found 3 in 10 households break even at best. In many of these cases there's a budget deficit. Citizens Advice report that 5m British adults have … Read More about Why Traditional Financial Statements Don’t Work
We’re nice people in the credit union movement. We often ‘err’ on the side of accepting loans, especially where borrowing will really help members out of a tricky situation. This can knock our risk appetite out of line with expectations. In such circumstances bad debt costs run over budget. … Read More about How Being Nice can Skew Risk Appetite
The limitations of credit checking Credit checking helps. Yet when faced with a loan application there’s nothing like seeing a bank statement. However, reviewing paper statements is error prone and causes delays. And for the loan applicant, it's intrusive and off-putting. As a result, far too many … Read More about A New Partnership Delivering Open Banking To Credit Unions
The days when you had to pay to upgrade your software are on their way out. NestEgg’s Decision Engine is Software as a Service (SaaS). One of the many benefits of SaaS for users is that you can expect to see new features materialise from time to time as a result of new innovations and client … Read More about New! Identity & Bank Account Owner Checks