SAMS has recently been updated following legislation changes to permit the monitoring of interest rates for Savings products either under the Payment Services Regulations (PSR) or BCOBS – whichever is the more appropriate rule set for the product.
It also includes an AER calculator, ideal for those more complex fixed term products, a complete audit of changes made and who has authorised them, and optionally current and historic competitor product information.
SAMS is designed for product managers or compliance officers in banks and building societies and offers a one-stop process for rate change management.
The output from SAMS can even be tailored to update websites, brochures or account processing systems to ensure a consistent and error free mechanism.
