Organisations
NestEgg 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…
Read MoreLending risk insights
Lending Risk Insights are a yet another new feature for our Decision Engine users. Achieving the right balance between risk and reward helps credit unions grow their loan book and reduce bad debt. NestEgg’s new Lending Risk Insights help responsible lenders achieve this win-win. For many years credit unions have faced uncertainty when assessing lending risk.…
Read More7 mistakes that cost credit unions millions
…and how to fix them At last week’s ABCUL conference, NestEgg highlighted 7 key reasons why many credit unions struggle to grow their loan books. Drawing on insights from 250,000 loan applications worth £550 million (that were decisioned by NestEgg’s partner lenders since the last conference), the data shows that by avoiding these seven common…
Read MoreMaximising growth and efficiency: the power of NestEgg’s analytics
Last week marked a major milestone for NestEgg Decision Engine users, with the release of powerful lending analytics tools. These insights provide credit unions with deeper data-driven decision-making capabilities, ensuring stronger financial performance, optimised marketing efforts, and improved risk management. Are you growing? Understanding loan book growth is essential when reviewing financial performance and adjusting…
Read More