NestEgg decision engine hits £1/4bn of loans
This week NestEgg decision engine hits £1/4bn of loans assessed. The £250,000,000 represents 200,000 loans having been evaluated using the NestEgg decision engine. But it’s the successes behind the overall big number that really matter. For example, every month in the last year has seen record lending for Central Liverpool Credit Union. Our latest London-based…
Read MoreLoan decisioning in a cost-of-living crisis
The cost-of-living crisis is hitting borrowers across all income groups. Consequently, responsible lenders need to adjust their approach when assessing loan applications. According to the Resolution Foundation, the typical working-age household faces an income fall of 4% or £1,100 in 2022-23. However, the poorest quarter of households will see income fall by 6%. This is…
Read MoreNew feature: compare default balances
NestEgg’s decision engine now enables users to compare default balances. Defaults, especially recent ones, are a predictor of bad debt. But responsible lenders like to give the benefit of the doubt. A loan might be justified if there’s evidence that an applicant is making an attempt to pay down defaults. The reverse – where defaults…
Read MoreNew feature: applicant demographics
NestEgg’s decision engine now includes applicant demographics. Because most new borrowers join online, it’s harder than ever to get a full picture of an applicant. Furthermore, this problem is compounded when a lender is expanding into an unfamiliar area. As a result you don’t know much about the applicant. Nor the place where they live.…
Read MoreWe’re hiring a Client Success Manager
NestEgg is hiring a Client Success Manager. The salary is £27,500 with a pension matched to 4% of gross salary. The role is 100% remote / home based. We are looking for a full time employee, but may consider fewer hours or a job share. About the role NestEgg software helps our responsible lender clients…
Read MoreAlign automated decisions with your lending policy
NestEgg makes it easy to align automated decisions with your lending policy and risk appetite. As a result, automated decisions are not overturned. Consequently, time, effort and money is saved. Automation benefits are realised. Getting automation right Credit unions must maintain and implement an up-to-date lending policy appropriate to the scale and nature of the…
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