Shortfacts - June 2017
SAP Loans Management
Innobis has created the prerequisite for legally compliant effective interest rate calculation in SAP Loans Management in accordance with Section 6 of the German Price Indication Ordinance (PAngV).
Banks and financial institutions no longer need third-party systems. They can thus fulfill the obligation to inform the customer about the correct effective interest rate.
The advantage for the customer: Loan offers with the same fixed-interest period are easier to compare before and at the time of contract conclusion. The transaction-dependent calculation of the effective interest rate in the SAP system can be used to the bank's advantage in all phases of financing - from the advisory meeting to the rollover.
The effective interest rate calculation integrated into the loan management is traceable and thus audit-proof (obligation to provide evidence) in accordance with the requirements of the German Federal Financial Supervisory Authority (BaFin).
Innobis uses a virtual loan for the effective interest calculation for SAP systems, i.e. a "copy" of the contract from SAP FS-CML (Loans Management) including all mathematically relevant parameters.