Organisations
NEW FEATURE: Pinpoint repayment problems instantly
New feature: Display and organise credit accounts according to their status: Active, paid, missed payments and defaults. Benefits: Faster assessment of repayment problems. Easy to identify trends. Credit reports take a long time to read. Lots of different creditors displayed in no particular order. Reading pages of digits to figure out if credit agreements are up…
Read MoreCase Study – Castle & Crystal Credit Union
We were thrilled to enrol UK Midlands-based Castle & Crystal Credit Union as an early adopter of our Decision Engine in July 2018. Making better decisions The Decision Engine means that applicants now get a decision within seconds of hitting the Apply button. Meanwhile, the credit union gets instant access to the basis for each decision…
Read MoreAnnouncement: 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…
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