News

NestEgg provides a decision engine with free upgrades. Here’s a brief line-up of three recent and three forthcoming updates. Importantly, our lender-clients help prioritise development during their user group. New features 1. Complete rule flexibility. Detailed rules enable lenders, for example, to set value limits for referring or declining defaults or County Court Judgments. Furthermore,…

We’re running a credit score masterclass in February because credit scores can be hard to fathom. Hundreds of factors contribute to a mysterious three digit number. A number that can mean the difference between getting a loan or not. Importantly, a credit score can influence the amount of interest charged for a loan. It can…

On 12th January we heard from seven speakers about how to grow your loan book in 2022. Download a copy of the slides. Credit scores are up … The credit data from NestEgg’s decision engine has shown that over the pandemic applicants’ credit scores improved. Defaults and legal action fell. However, there are indications that…

NestEgg’s decision engine now offers unlimited addresses for each credit decision. On average a credit union borrower has moved twice during the last six years. Younger and lower income borrowers moved up to four times over the same period. Moving away from your credit history Importantly, credit history doesn’t automatically follow a borrower when they…

In July NestEgg hit an important milestone. Our decision engine has reviewed more than £100m of loan applications. Representing just under 80,000 individual borrowers, 60,000 applicants were financially excluded. We estimate these borrowers saved £18m in excess interest that would have otherwise been paid to high cost lenders. We’ve learnt a lot along the way.…

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 recent interviews provided a contrast with a similar exercise…