Organisations
How 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:…
Read MoreGDPR Is Good For Marketing
Nearly 20 years ago, a book was published which was to change marketing forever. Before that, marketing* was about interrupting people with messages they didn’t ask for and didn’t want. “Interruption Marketing was easy. Build a few ads, run them everywhere. Interruption Marketing was scalable. If you need more sales, buy more ads. Interruption Marketing…
Read MoreSatsuma Goes Pear-Shaped (Slick Customer Experience Isn’t Enough)
Ten years ago I ran a focus group of low income borrowers to understand the impact the Government’s Growth Fund initiative had on credit union members. What suprised me was how much borrowers were willing to pay for convenience of service. I’d assumed that lower interest rates and weekly payments were enough. Removing friction in…
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