It is essential the calculators you use to calculate redress are robust and up-to-date. TCC has extensive experience building, adapting, assuring and maintaining calculators to deal with a wide array of scenarios encountered in financial services.
Our specialisms lie within calculators for the pensions, investments, annuities and mortgage spaces, however we can produce almost any calculator type and for any product through utilisation of our resource pool, which contains experts in a wide variety of products, calculator software packages and coding languages.
TCC provides tailored solutions combining aspects of three phases: build & adapt, assure and maintain.
How can we help?
PHASE 1: Build & adapt
We custom build from scratch or adapt existing calculators in response to changing regulation or methodologies. We provide a tailored solution that is specific to your needs and has had actuarial sign-off – far more comprehensive than a generic off-the-shelf calculator.
PHASE 2: Assure
We ascertain that the calculator is fit for purpose, that it performs the required function, is as efficient as possible and the usage documentation is adequate. We can conduct assurance on third party built calculators, internal calculators or on our own calculators using an independent team.
PHASE 3: Maintain
We ensure that your calculator continues to be suitable, relevant and sufficient for your needs in response to changing legislation, the passage of time and rate changes. TCC will review the calculator periodically, depending on its complexity and usage.
Why partner with TCC?
- Niche intelligence – our team of calculations experts have the knowledge and skill-set that is challenging to replicate in-house
- Actuarial approval – you know our calculators are robust as actuarial sign-off is required at each phase
- Regulatory expertise – our knowledge of regulation enables us to manipulate requirements to drive efficiencies whilst still meeting FCA expectations
- Experience – we have built, assured and maintained calculators for clients across the commercial financial services environment
Download our case study to find out how we helped a leading bank assure and build calculators for PPI following the Plevin Supreme Court Judgement
View case study