Grow your loan book and your member demographic.
From time to time, we will highlight interesting and up-and-coming use cases and FinTechs that have caught our eye and with whom we have a strong relationship. This week, we'reshining a light on NestEgg.
Canadian credit union members have typically faced longer approval times than those at major banks. The struggle is particularly acute for younger borrowers and newcomers, who are frequently declined due to "thin credit files," a situation that costs credit unions vital new membership. With the average credit union member now age 53, attracting the next generation isn't just a goal—it's an urgent necessity.
This is where NestEgg comes in.
NestEgg: A Proven Use Case for Credit Unions
NestEgg is the number one provider of loan decisioning in the UK credit union system, a market that has already successfully implemented Open Banking. They currently work with 50+ UK credit unions, powering over 750,000 loan applications by leveraging both open data and traditional credit data.
Their results are proof of concept for Canada:
Faster Approvals: Streamlining the application process from days to minutes.
Fairer Acceptance: Using real-time financial data to gain a complete view of a member's financial health.
Stronger Inclusion: Transforming thin-file applicants (like newcomers and younger Canadians) into viable borrowers by proving income stability and payment reliability beyond a static credit score.
By adopting technology that moves beyond the credit score, Canadian credit unions can radically improve decisioning, expand financial inclusion, and secure the next generation of members, all while maintaining a strong alignment with their risk appetite.
Want to hear more? Join NestEgg’s Webinar to Prepare for 2026
Want practical, proven strategies for navigating the upcoming Consumer-Driven Banking landscape? NestEgg is sharing its hard-won experience from the UK to help Canadian Credit Unions prepare now.
Discover how you can use automation and data to grow membership and truly embody the "people helping people" ethos of the credit union movement in the digital age.
You’ll Discover:
How Open Banking transforms thin-file applicants into viable borrowers.
Specific lending strategies for newcomers, millennials and SMEs.
Tips for integrating Open Banking with your existing credit bureau data.
Tap into new opportunities for small business lending.
Webinar Details: Unlocking Lending Growth: How Open Banking Can Power Canadian Credit Unions
Date: Wednesday, November 12, 2025
Time: 10:00 AM – 11:00 AM PST
Registration Link: https://www.eventbrite.co.uk/e/unlocking-lending-growth-how-open-banking-can-power-canadian-credit-unions-tickets-1693598762489?aff=oddtdtcreator
