Organisations
NestEgg joins the Financial Regulation Innovation Lab Consumer Duty Challenge
We’re thrilled to be part of the Financial Regulation Innovation Lab’s Consumer Duty Challenge. On 5 November, we joined other participants, industry partners, and experts in Glasgow to explore innovative solutions to address issues affecting both large and small financial institutions. The shared focus and fresh approaches revealed during the event were inspiring, providing valuable…
Read MoreDrive lower risk loan applications with soft credit checks
For borrowers who are conscious of their credit scores, soft credit checks offer a practical and appealing solution. This process allows individuals to determine their likelihood of loan approval without negatively impacting their credit score (unlike hard credit checks). This is particularly beneficial for those with variable-rate financial products, such as mortgages, where even a slight…
Read MoreLending trends 2024
Over the past year there has been a shift in lending risk within the credit union sector. In 2023, credit unions in Great Britain approved nearly 6 out of 10 loan applications. However, as of 31 August 2024, this approval rate has dropped, despite applicants credit risk being lower. What are these lending trends telling…
Read MoreNew features for 2024
NestEgg has had a very busy 2024 so far. Not only has the launch of our award-winning Broker Platform been a success, but we’ve also been announcing lots of new features for our partner lenders. Here is a roundup of the latest releases. Some have been made available in the last couple of months and a…
Read MoreNestEgg wins the Fast Solution award at the FCA TechSprint
NestEgg presented its Broker Platform at the FCA TechSprint last week, winning the Fast Solution’ award. The judging panel recognised the rapidity with which our platform can scale to connect declined borrowers to community finance. This means: A better decline journey for applicants Millions of pounds interest saved by borrowers living in the 20% poorest…
Read MoreHelping responsible lenders grow their loan books in difficult times
It’s hard to remember a time when lending was this difficult. One pressure is the impact as 1.5m people leave fixed rate mortgages this year. They’ll spend an additional £19bn on mortgage repayments in 2024. Currently with higher credit scores, these ‘near-prime’ borrowers have been a priority for credit unions looking to balance loan books…
Read More