Organisations
Announcement: NestEgg Joins The Finance Innovation Lab!
We are delighted to announce that NestEgg has been selected for the 2019 Fellowship Programme at the Finance Innovation Lab. We are now working with the Lab to create a more democratic, responsible and fair financial system. Fellows are selected on the basis of their potential to positively disrupt the financial system and pioneer the…
Read MoreWhy Traditional Financial Statements Don’t Work
Money comes in. Money goes out. Calculating disposable income is hard given our tendency to spend what we earn. The Office of National Statistics has found 3 in 10 households break even at best. In many of these cases there’s a budget deficit. Citizens Advice report that 5m British adults have less than £10 left…
Read MoreHow Being Nice can Skew Risk Appetite
We’re nice people in the credit union movement. We often ‘err’ on the side of accepting loans, especially where borrowing will really help members out of a tricky situation. This can knock our risk appetite out of line with expectations. In such circumstances bad debt costs run over budget. Members may want (and intend) to…
Read MoreA New Partnership Delivering Open Banking To Credit Unions
The limitations of credit checking Credit checking helps. Yet when faced with a loan application there’s nothing like seeing a bank statement. However, reviewing paper statements is error prone and causes delays. And for the loan applicant, it’s intrusive and off-putting. As a result, far too many applicants abandon an online application once they’re asked…
Read MoreNew! Identity & Bank Account Owner Checks
The days when you had to pay to upgrade your software are on their way out. NestEgg’s Decision Engine is Software as a Service (SaaS). One of the many benefits of SaaS for users is that you can expect to see new features materialise from time to time as a result of new innovations and…
Read MoreMaking Open Banking Work For The Benefit Of Your Members
Open Banking for credit unions provides an opportunity to educate members and improve credit decisions. Because Open Banking lets lenders view applicants’ bank transactions there’s no need for paper bank statements. But with data scandals an ever-present threat, this information should be used securely and fairly. NestEgg believes in fair use of data. This means:…
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