Scotland’s £111 Million Credit Union Opportunity
Scotland faces a financial inclusion crisis. 43% of Scots cannot cover bills for 3 months without their main income. Approximately 730,000 people in Scotland faced credit rejection, representing nearly 1 in 5 Scottish adults. Scottish Illegal Money Lending Unit research found that up to 300,000 people in Scotland are at risk of turning to illegal…
Read MoreCredit union lending: unlock growth with Property Insights
Credit unions are missing millions in lending opportunities every day. When loan applications get declined due to incomplete financial pictures, members walk away disappointed and loan books stay smaller than they could be. NestEgg’s Property Insights changes this by giving credit unions access to comprehensive property data that turns previously declined applications into approved loans,…
Read MoreConsumer-Driven Banking in Canada: turning open data into fairer decisions for credit unions
Canada’s Consumer-Driven Banking Framework launches in 2026, offering credit unions an opportunity to revolutionise lending through open data. Consumer-Driven Banking gives members control over their financial data, enabling credit unions to make fairer, faster lending decisions. Canadian credit union members face longer approval times than major bank customers. Higher decline rates for younger borrowers and…
Read MoreWhy member history matters most
When an existing member applies for a loan, member history matters most. Someone might have a low credit score, but if they’ve been paying their credit union loan on time, that tells a different story. Currently to access this important information you probably need to: Log into your core banking system Search for the applicant’s…
Read MoreNotice of Correction: add context to your credit file
Sometimes the numbers on your credit file don’t tell the full story. You have the right to add a personal explanation. This is known as a Notice of Correction. What is a Notice of Correction? A Notice of Correction (NOC) is a short statement (no more than 200 words) that you can add to your…
Read MoreThree new features to supercharge your lending decisions
NestEgg’s award-winning Decision Engine is getting even smarter with three powerful new features designed to help you make faster, more informed lending decisions while growing your loan book and reducing risk. Risk Based Pricing (RBP) Increase approval rates while reducing risk. NestEgg’s new dynamic loan pricing automatically adjusts interest rates based on credit scores and…
Read More