Affordability is STILL the issue!

Afforadable highlighted

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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Open Banking and Product Development

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NestEgg has been using Open Banking to assist with credit decisioning for more than five years. At the World Credit Union Conference 2023 (WCUC), we talked about how open banking can be used to make more inclusive lending decisions.   Open banking data is also useful when used in aggregate. In other words, analysing data from…

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Open Banking and Financial Inclusion

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On Wednesday 26th July, NestEgg co-founder, Adrian Davies, is speaking at the World Credit Union Conference in Vancouver. The topic is how Open Banking promotes financial inclusion. The UK is ahead of almost all other countries with open banking. NestEgg decision engine clients have been using these data to support lending decisions for more than…

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Combining credit bureau and open banking data

Combining credit bureau and open banking data is a key advantage of the NestEgg decision engine. Because of this loans officers only need to be in one screen to be able to compare two important sets of data. Read on to see how this works in practice. Combining credit bureau and open banking data provides…

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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 alternative. Above all, lower income households have to manage the…

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Making Open Banking Work For The Benefit Of Your Members

open banking for credit unions

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 securely and fairly. NestEgg believes in fair use of data. This means:…

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