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 … Read More about NestEgg is a semi-finalist in the Rapid Recovery Challenge
Decline to accept
Credit unions save low income borrowers, in Great Britain, £120m in excess interest every year. NestEgg users generate a ‘social dividend’ of £200 saved interest, each working hour. However, 40% of loans are declined. As a result, every year 100,000 vulnerable applicants are turned away by … Read More about Decline to accept
Introducing Financial Health Indicators
NestEgg and Central Liverpool Credit Union are one of six finalists in the Affordable Credit Challenge. Together we are building Financial Health Indicators (FHIs) into NestEgg's decision engine. Covering spending, borrowing and saving, FHIs are shared transparently between borrowers and … Read More about Introducing Financial Health Indicators
The credit union difference in a fintech world
Financial technology (fintech) is great news for credit unions. Slicker user experience. Automation. Easier payments. Better use of data. These all help the sector grow loan books. But ‘tech for good’ companies are hoovering up potential credit union members. Some are particularly strong on … Read More about The credit union difference in a fintech world
Open Banking for People and Planet
On Thursday 20th June NestEgg co-hosts a Finance Innovation Lab community event; Open Banking for People and Planet. Kicking off at 7pm, the event's at the Google Start-up Campus. We'll look at how Open Banking improves loan decisions and how this can be done at scale. Automated decisions can … Read More about Open Banking for People and Planet
The Affordability Challenge
Assessing affordability is a challenge. Especially when considering loan applications from low income households. A family with little money will be struggling to make ends meet. Never mind paying back a loan. High cost credit perpetuates this problem. It's why credit unions are an important … Read More about The Affordability Challenge