WBEIR®

Effective Interest Rates

INTRODUCING WBEIR®

A unique product that supports financial services businesses to produce the output to conform to FRS102 and IFRS9 accounting standards on income recognition.

“Calculating our monthly EIR on spreadsheets was proving to be a very complicated and labour intensive exercise. As such, MBS needed a dedicated solution to accurately calculate and forecast EIR. Whistlebrook have a proven track record in the field and having successful implementations of other Whistlebrook solutions in place we are pleased to rely on the firm’s expertise for our EIR requirements.”

Nathan Griffiths, Financial Controller, Monmouthshire Building Society

OVERVIEW

Taking the pain out of meeting accounting standards, Whistlebrook's WBEIR® product automatically processes assessments for both interest and fee income and costs.

The ability to process monthly interest and fee income recognition for basic financial instruments in this way means you don’t have to worry about errors arising from manual inputs on spreadsheets or inconsistently applied formulae. WBEIR® will give you peace of mind by reducing the operational risk and improving performance. Backed up by rigorous audit, this is a high performing tool that will improve the transparency and efficiency of your financial instrument accounting.

Deal with multiple ‘what if’ scenarios for customer future behaviour by being able to analyse the interest income recognition over the lifetime of a loan.

KEY PRODUCT BENEFITS

How WBEIR® can support your business with its regulatory obligations

Delivers the output required to conform to FRS102 section 11 and IFRS9 accounting standards on income recognition
Model future performance of individual loans or portfolios with behavioural curves
Explores multiple what-if situations, tailored to your requirements
Developed specifically for the unique needs of financial institutions
Reduces operational risk by removing the need for clunky spreadsheets
Improves reporting capability

CASE STUDY

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