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 … Read More about Faster growth with easy online applications
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 … Read More about How to improve affordability assessment
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 … Read More about An increase in credit union lending?
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 … Read More about Affordable or vulnerable? FREE loan affordability assessment training
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 … Read More about More referrals for community finance
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 … Read More about An upgraded decision engine for responsible lenders