An upgraded decision engine for responsible lenders
A Decision Engine for responsible lenders is only as good as its rules. If rules for deciding whether loans should be accepted, declined or referred don’t align with loans officer thinking, buy-in for automation may be limited. If lending strategies don’t align to lending policies, credit governance will be weak. We’ve been reviewing automated decisioning…
Read MoreReducing workload when processing loans
Loans staff are increasingly away from work due to Covid-19. Because of this, NestEgg has focussed on reducing workload when processing loans. Enhancements improve member service. NestEgg is Software as a Service and as such our Decision Engine is enhanced over time. And without upgrade fees. Core systems integration Importantly, NestEgg provides an API for…
Read MoreSave money by using cash instead of a card
Save money by using cash instead of a card. If you walk into a supermarket with only a £10 note, you’ve limited your spending to a tenner. Sounds obvious, but it’s an effective way to control your spending. Furthermore, it’s really hard to stick to a maximum spend if you’re using a debit card. And…
Read MoreGrowing the loan book in 2021
Growing the loan book in 2021 will continue to be a challenge. Job insecurity and economic uncertainty means it’s harder to make lending decisions. Borrowers’ circumstances change so quickly due to Covid-19. And then there’s rising bad debt. 100,000 new borrowers NestEgg will provide responsible lenders with 100,000 loan applications from new borrowers. NestEgg software…
Read MoreNestEgg is a semi-finalist in the Rapid Recovery Challenge
We’re delighted to announce that NestEgg is a semi-finalist in the Rapid Recovery Challenge. Challenge participants are improving access to jobs and money, focusing on those hardest hit by the economic shock resulting from COVID-19. About our solution NestEgg’s financial health app makes it easy for low-income workers to access affordable credit. Moreover, it encourages…
Read MoreCovid-19 changes to credit score and missed payments
Ahead of FREE webinar on 3 December, we’ve taken an initial look at Covid-19 changes to credit score and missed payments. 30% of 500 credit union members surveyed told us their financial situation had worsened since Covid-19. Step Change found 28% of adults experienced a negative change in circumstances. Similarly, the Resolution Foundation discovered that…
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