Money comes in. Money goes out. Calculating disposable income is hard given our tendency to spend what we earn. The Office of National Statistics has found 3 in 10 households break even at best. In many of these cases there's a budget deficit. Citizens Advice report that 5m British adults have … Read More about Why Traditional Financial Statements Don’t Work
How Being Nice can Skew Risk Appetite
We’re nice people in the credit union movement. We often ‘err’ on the side of accepting loans, especially where borrowing will really help members out of a tricky situation. This can knock our risk appetite out of line with expectations. In such circumstances bad debt costs run over budget. … Read More about How Being Nice can Skew Risk Appetite
A New Partnership Delivering Open Banking To Credit Unions
The limitations of credit checking Credit checking helps. Yet when faced with a loan application there’s nothing like seeing a bank statement. However, reviewing paper statements is error prone and causes delays. And for the loan applicant, it's intrusive and off-putting. As a result, far too many … Read More about A New Partnership Delivering Open Banking To Credit Unions
New! Identity & Bank Account Owner Checks
The days when you had to pay to upgrade your software are on their way out. NestEgg’s Decision Engine is Software as a Service (SaaS). One of the many benefits of SaaS for users is that you can expect to see new features materialise from time to time as a result of new innovations and client … Read More about New! Identity & Bank Account Owner Checks
Making Open Banking Work For The Benefit Of Your Members
Open Banking for credit unions provides an opportunity to educate members and improve credit decisions. Because Open Banking lets lenders view applicants' bank transactions there's no need for paper bank statements. But with data scandals an ever-present threat, this information should be used … Read More about Making Open Banking Work For The Benefit Of Your Members
GDPR Is Good For Marketing
Nearly 20 years ago, a book was published which was to change marketing forever. Before that, marketing* was about interrupting people with messages they didn't ask for and didn't want. “Interruption Marketing was easy. Build a few ads, run them everywhere. Interruption Marketing was scalable. … Read More about GDPR Is Good For Marketing