Organisations
NestEgg announced as finalists for Technology Partner of the Year
NestEgg is very pleased to be announced as a finalist in the Consumer Credit Awards: ‘Technology Partner of the Year’ category. Often the focus is on the technology side of that partnership. NestEgg has certainly helped grow the loan books of our lender clients. However, it’s the outcomes from the hard work of our credit…
Read MoreOpen Banking and Product Development
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…
Read MoreOpen Banking and Financial Inclusion
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…
Read MoreBringing together open banking and credit data
NestEgg is bringing together open banking and credit data. To help us we’ve secured a grant from Innovate UK’s Transformative Technologies competition. As a result, we’ll be developing new features, combining open banking and credit data for rounder, more complete affordability decisions. It’s hard to get a fair priced loan People who’ve been through a…
Read MoreLoan applications by credit profile
Last week we looked at how smaller loans aren’t always high risk, now we’ll examine loan applications by credit profile. Table 1 shows results from 50,000 applications to community credit unions in Great Britain (GB), sorted by credit rating. Table 2 shows 5,000 applications to community credit unions in Northern Ireland (NI). Applications by credit profile…
Read MoreSmaller loans aren’t always high risk
Credit unions take note: smaller loans aren’t always high risk. Nor are they always for people who are out of work. For this analysis, we looked at the last six months’ of data from over £500m + of loans assessed by NestEgg’s decision engine. Firstly, one third of all loans to community credit unions came…
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