WBEIR®

Effective Interest Rates

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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
Monmouth Building Society logo - Whistlebrook’s Effective Interest Rates (WEIR)
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 income recognition 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 the EIR income calculation.

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 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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WHY CHOOSE WBEIR®

Flexible and simple to use

Tailor inputs and outputs to configure the individual scenario of your EIR calculation
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WHY CHOOSE WBEIR®

Reduce risk when handling complex data

WBEIR® removes the risk of human error and performance constraints that exist when using cumbersome spreadsheets
WHY CHOOSE WBEIR®

Proven through audit

Developed in partnership with our customers, we believe WBEIR® is unique in the market
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WHY CHOOSE WBEIR®

Compare different scenarios

Multiple fee, product and customer behaviour scenarios can be modelled with ease in real-time
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WHAT NEXT ?

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