Organisations
New features for early 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 MoreBetter referral for declined applicants
At the beginning of this year’s Debt Awareness Week, it was reported that 13% of adults had missed three or more credit or bill payments in the last six months. Credit unions are used to seeing this. For example, between 1 January and 18 March 2023, 29% of borrowers assessed by NestEgg’s Decision Engine had…
Read MoreData driven decisions
As we head from London to the North West to Manchester for the ABCUL conference, NestEgg has compared the data from lending decisions made in these areas. This is to help credit unions make data driven decisions. Overall, lending risk in the North West is higher than the South East (including London). Despite higher incomes…
Read MoreNestEgg joins the FCA Financial Inclusion TechSprint
NestEgg is delighted to announce its participation in the FCA Financial Inclusion TechSprint. The TechSprint aims to utilise technology to boost the chances of loan approval and foster financial inclusion. The problem Our participation addresses two sides to the challenge. Firstly, people need help to find an alternative lender that is more likely to accept…
Read More