Monmouthshire Building Society choose Whistlebrook’s Effective Interest Rate System

Whistlebrook EIR provides a sophisticated solution to some of the challenges associated with the new accounting standards of IFRS 9 and FRS 102.

The system offers advanced functionality that is not easily achieved in a spreadsheet model, including complex forecasting capabilities.

The system was released mid-2016 and has recently been given auditor approval.

Nathan Griffiths, financial controller at MBS, commented: “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 has 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.”

Andy Hudders, Whistlebrook’s sales and marketing director, added: “We are delighted that MBS has chosen the Whistlebrook EIR system. We have a long standing and successful partnership with MBS and we look forward to us working together to ensure another successful implementation”