Organisations
Why member history matters most
When an existing member applies for a loan, member history matters most. Someone might have a low credit score, but if they’ve been paying their credit union loan on time, that tells a different story. Currently to access this important information you probably need to: Log into your core banking system Search for the applicant’s…
Read MoreThree new features to supercharge your lending decisions
NestEgg’s award-winning Decision Engine is getting even smarter with three powerful new features designed to help you make faster, more informed lending decisions while growing your loan book and reducing risk. Risk Based Pricing (RBP) Increase approval rates while reducing risk. NestEgg’s new dynamic loan pricing automatically adjusts interest rates based on credit scores and…
Read MoreDetecting economic abuse using lending data
Earlier this year, NestEgg won Fintech Scotland’s Consumer Duty Challenge for improving outcomes for vulnerable borrowers. Building on this foundation, we’re launching new research into one of the most hidden forms of vulnerability: economic abuse. An often hidden vulnerability The law recognises economic abuse as a form of domestic abuse, where one person controls another’s…
Read MoreNestEgg announced as a finalist at the Consumer Credit Awards
NestEgg has been announced as a finalist for Technology Partner of the Year at this year’s Consumer Credit Awards, run by Smart Money People! This recognition highlights the growing impact of ethical technology in the credit sector and the amazing work our partners are doing to support financial wellbeing across the UK. Furthermore, this nomination…
Read MoreMeeting the challenge of declined credit
The latest Financial Lives survey from the Financial Conduct Authority (FCA) reveals a troubling statistic: 3.2 million UK adults have been declined credit in the past two years. That’s over one in five of the population locked out of mainstream financial services at a time when the cost of living remains high and financial resilience…
Read More5 ways to reduce bad debt
NestEgg is now able to provide credit unions with detailed risk analyses to optimise loan performance. Based on what we’ve seen, here are five ways to reduce bad debt. Watch those debt ratios Applicants with high credit card balances (using more than 75% of their limits) are the most likely to miss payments on credit…
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