Organisations
Supporting compliance for outsourcing rules
Outsourcing rules are contained in Chapter 14 of the PRA Rule Book. In short, where an important operational function is outsourced, additional controls should be in place to manage that service. In most cases where a credit union is relying on cloud-based services – outsourcing rules apply. As organisations rely more than ever on the…
Read MoreISO 27001 Certification
NestEgg is proud to announce we are now ISO 27001 certified. As of 7th November 2022, we have been certified for ISO 27001. This certification independently verifies that NestEgg follows information security best practices with our technology, people and processes. This is good news for your data. ISO 27001 certification is something we have been…
Read MoreCar loans roundtable
20 credit unions attended our Car Loans Roundtable on 10th November. The meeting explored the opportunity the Finance Bill presents for credit unions wanting to grow their loan books. Currently passing through Parliament, when enacted the Bill means credit unions will be able to offer Conditional Sales Agreements. Conditional Sales Agreements are similar to hire…
Read MoreEasier loan assessment
NestEgg’s decision engine delivers easier loan assessment. Are you tired of moving between several different systems just to assess a loan? With NestEgg, everything’s in one place. Online loan applications may need to be re-keyed into a credit assessment portal. Moreover, your credit data probably appears in a different place to open banking. Additional documentation…
Read MoreCredit union car loans
Credit union car loans are becoming a reality. 7.5m people bought 9.2m cars in 2021. 8 in 10 of those were second hand. The average asking price for a second hand car was up 11% to just under £16,000. Credit unions have struggled to take advantage of this demand. In Great Britain fewer than 1%…
Read MoreFeatured feature: debt ratios
Debt ratios are important. And the cost-of-living crisis makes affordability assessments are more important than ever. To help loans officers identify problems early on, the NestEgg decision engine displays three debt ratios, speeding up loan decision time because we do the calculations, so you don’t have to. Credit worthiness rules from the FCA state that…
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