Effective Interest Rates

Whistlebrook EIR will produce the necessary output to allow your business to conform to FRS102 and IFRS9 accounting standards on income recognition.

PRODUCT OVERVIEW

The WBEIR® product delivers the output required to conform to FRS102 and IFRS9 accounting standards on income recognition. It takes an import of data from the Whistlebrook integrated database for lending and, optionally, deposits. The WBEIR® product then processes EIR assessments for both interest, and fee income & costs, in real-time on a user-defined periodic basis.
WBEIR® has been proven through audit and is a uniquely designed software product that replaces the use of spreadsheets.

BUSINESS BENEFITS
  • Proven through Audit
  • Improved transparency, consistency and efficiency of the EIR calculation
  • Improve reporting capability with specifically designed OLAP cubes
  • Compare and contrast multiple business scenarios
  • Obtain a feedback loop for future assumptions from past reversion experience
  • Remove the need for complex and cumbersome spreadsheets
  • Remove the key man risk associated with internally constructed EIR spreadsheets
  • Remove the performance constraints of spreadsheets with large loan books
PRODUCT FEATURES
  • Multiple fee and product types are supported
  • Configuration of multiple scenarios
  • Comprehensive audit trail
  • Full drill down capability

Configurable expected behaviours include:

  • Prepayments
  • Reversion periods
  • Losses
HOW OUR CUSTOMERS USE WBEIR®

The WBEIR® product is flexible and simple to use. It reduces the demands of EIR by allowing changes to be made to customer behavioural assumptions and then recalculates any necessary adjustments to income and cost recognition. ‘What if?’ scenario questions are easy to answer. The system includes a hierarchy that allows users to tailor the inputs and outputs as required. Cash flow and EIR expected profiles are shown and differences between interest at a product rate and that at EIR are explained.

CUSTOMER COMMENT

“Deploying the Whistlebrook EIR product has reduced our operational risk having removed the reliance on a complex spreadsheet solution for effective interest rate calculation.”
Anuj Nehra, Managing Director
Oblix Capital

PRODUCT VIDEO
Video explaining Whistlebrook's Whistlebrook Effective Interest Rates software allows your business to conform to FRS102 and IFRS9 accounting standards on income recognitionRequest Effective Interest Rates data sheet

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