Choosing NestEgg for Open Banking

open banking

Open Banking has revolutionised credit assessment. It provides more up to date information. Open Banking reveals spending patterns that are absent from credit data. However, Open Banking can only offer proxies. You can’t be certain that a bounced direct debit means that the loan repayment will be missed. Open Banking can’t tell you overall balances…

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NestEgg wins Innovate UK Grant

Innovation UK grant

NestEgg has won a grant from Innovate UK’s Innovation in Financial Services Competition. The Innovate award recognises NestEgg as an innovative company that is improving the use of Open Finance. Open finance is the next iteration of Open Banking. In addition to connecting bank accounts, people can choose to share information about their assets including…

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Consolidation lending for responsible lenders

Consolidation lending

The Christmas season’s loan rush may not be entirely over for 2023, but it won’t be long until preparations for the next lending campaign are underway. January is traditionally a peak period for consolidation lending, with loans typically higher in value and being repaid over a longer duration. This results in increased revenue for lenders.…

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Growing the mutual lending sector: what is the data showing us?

Growing the mutual lending sector

In October 2023 we were host to a packed event with credit unions and stakeholders to discuss growing the mutual sector during a tougher lending climate. Expert speakers discussed the data, lending risk and Information Technology. Tough times for mortgagees We kicked off the event by looking at the data. Borrowers to credit unions are…

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Mutual Growth Seminar

Mutual growth seminar

The cost of living crisis and rising interest rates means it’s a tough time to lend. NestEgg’s Mutual Growth Seminar will help participants explore and discuss strategies for growing the mutual sector at this difficult time. The day will be structured around four fireside chats, covering affordability, products and technology. What is the data telling…

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Affordability is STILL the issue!

Affordability

Combining credit and open banking data is the key to understanding affordability. With interest rates rising and the cost of living crisis continuing, new ways of understanding affordability are essential. Open Banking is one way to assess affordability because it gives the latest transaction data. However affordability is much more powerful when open banking is…

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