Faster growth with easy online applications
Covid-19 has been a catalyst for change. A huge global nudge in the direction of doing things online. Because of this, borrowers expect easy online applications. Get this right and loan books grow. Get this wrong and 58% of people will never use your services again. Worse still, 6 in 10 of 25 – 34…
Read MoreHow to improve affordability assessment
40 credit unions attended our recent training: ‘Affordable or vulnerable’ where we looked at how to improve affordability assessment. We addressed a key challenge: Covid-19 and FCA regulations mean affordability is THE issue for 2021. Get this wrong and arrears increase. Non-compliance may lead to complaints. These may arrive via Claims Management Company looking for…
Read MoreAn increase in credit union lending?
It’s too early to establish a trend when you’re looking at just a couple of months’ worth of data. Nevertheless, since March there’s been a definite increase in credit union lending. And it’s a much needed increase. At the beginning of the pandemic Carnegie UK and Community Finance Solutions found that the volume of credit…
Read MoreAffordable or vulnerable? FREE loan affordability assessment training
Covid-19 has made loan affordability assessment much harder. Furthermore, according to the Financial Conduct Authority, 53% of the UK adult population are showing signs of financial vulnerability. NestEgg’s FREE training session will help loans officers strike the right balance between affordability and vulnerability. During this one-hour course, we’ll look at how credit and open banking…
Read MoreGetting a mortgage with a poorer credit history
We’ve been locked away in our homes for more than a year. No wonder many of us are thinking that it would be much more comfortable in our own place. And it is a feeling shared by many. According to the British Social Attitudes survey 86% of people want to own their own home. Last…
Read MoreMore referrals for community finance
Over the next two years NestEgg will deliver 10,000s more referrals for community finance. We’ve just completed another dozen in-depth interviews with credit union members. As a result we’re better able to understand their money goals and the impact Covid-19 is having on their finances. These recent interviews provided a contrast with a similar exercise…
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