DPR Consulting launches personal finance calculator suite
06 December 2001 | 1416 views | 0
DPR Consulting has launched an interactive 'Calculator Suite' for the building society market, bring together calculators for savings, loans, mortgages and credit cards in a single package.
Societies can programme the calculator engine to provide calculations relating to their specific products, displaying product choices within drop down menus. The information fed into the calculators can also be transferred directly into product administration systems, sparing the need to re-input data.
Richard Walbach, Director at DPR Consulting points to recent research which indicates that of all transactions started on the Internet, only 16 per are ever successfully completed. "Implementing a comprehensive set of calculators could address this problem in several ways," he says. "When applying for any financial product, customers are more likely to complete the deal when they have access to reliable information and a simple means of analysing and understanding it."
The calculator engine is independent from the Web front-end and can easily be added to an existing Internet site, says Walbach.
The calculators are able to perform a range of calculations from 'what if' analyses, product comparisons and quotations, based on accruals, interest rates and APRs. The company plans to develop the suite to include tax, foreign currency conversions, portfolio investment, leasing, retirement and mobile phone calculators in the near future.