Organisations
New features for the Decision Engine
December has been a bumper month for new features for NestEgg’s Decision Engine. Here we describe how we’re using Open Banking and recent search history to further improve loan assessment. Open Banking self-categorisation One of the biggest challenges with Open Banking is the lack of categorisation. If transactions aren’t allocated correctly, affordability assessments won’t be…
Read MoreConsolidation lending for responsible lenders
The Christmas season’s loan rush may not be entirely over for 2023, but it won’t be long until preparations for the next lending campaign are underway. January is traditionally a peak period for consolidation lending, with loans typically higher in value and being repaid over a longer duration. This results in increased revenue for lenders.…
Read MoreGrowing the mutual lending sector: what is the data showing us?
In October 2023 we were host to a packed event with credit unions and stakeholders to discuss growing the mutual sector during a tougher lending climate. Expert speakers discussed the data, lending risk and Information Technology. Tough times for mortgagees We kicked off the event by looking at the data. Borrowers to credit unions are…
Read MoreHow should Northern Ireland credit unions respond to rising interest rates and affordability issues?
With rising interest rates, the cost of living crisis and affordability issues, Northern Ireland households are under financial pressure. It’s becoming harder for you to lend to new and existing members and support your community. Overall, accept rates for loans fell by 5% between 2022 and 2023 in line with the fall in credit scores.…
Read MoreMutual Growth Seminar
The cost of living crisis and rising interest rates means it’s a tough time to lend. NestEgg’s Mutual Growth Seminar will help participants explore and discuss strategies for growing the mutual sector at this difficult time. The day will be structured around four fireside chats, covering affordability, products and technology. What is the data telling…
Read MoreRising mortgage rates and affordability
Rising mortgage rates and affordability is a big issue for lenders right now. Can people with mortgages afford to borrow? It’s important to know how much costs have risen and what impact that has on affordability and credit risk. Our last blog explained how those with better credit scores (who are more likely to have…
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