fincarna

One place every rate comes from

Most institutions can tell you today’s rate. Far fewer can tell you what it was on a given date eighteen months ago, who changed it, and why. Rate Authority makes that answer routine.

The challenge

Interest is where the majority of a bank’s revenue comes from, and it is usually the least governed number in the building. Rate sheets live in spreadsheets. A change to prime becomes a manual sweep across every product that references it. The rate a customer was quoted, the rate that was disclosed, and the rate the core accrued against are three different systems of record that agree most of the time.

The failure is rarely dramatic. It looks like a mortgage priced off last quarter’s grid, an indexed rate that never picked up a rate move, or a promotional rate that was never switched off. Each one is small. Together they are a material and largely invisible drift between the pricing you decided on and the pricing you actually delivered.

And when the regulator or the auditor asks the obvious question, which is what was this rate on this date and who approved it, the answer takes weeks to assemble from email and file history.

How Fincarna solves it

Rate Authority treats a rate the way a billing system already treats a price. A rate is its own record, with a structure, a publication history, and an owner. It can be fixed, indexed against something you publish, tiered by balance, laid out as a grid across several dimensions, or sequenced from one form into another over time.

Publishing a value is a deliberate act with an effective date, an author, and a reason attached. Draft values are never billable. Corrections supersede rather than overwrite. Asking what the rate was on any given day is a lookup, not an investigation.

Rates are published, not charged. Your core still accrues the interest. Fincarna is the authority on what the number is, where it came from, and when it applied.

Mortgage rate gridOne rate priced across two dimensions. Every cell versioned independently.Credit scoreGood660 to 719Prime720 to 779Super prime780 and upLoan to valueUp to 65% LTV5.12%4.86%4.54%65% to 80% LTV5.44%5.18%4.91%Over 80% LTV5.98%5.72%5.39%Resolved rate62% LTV, score 791Treasury authors the grid in Excel or the dashboard. Every cell carries its own version history and effective date.

What you can express

  • Indexed lending rates

    Prime plus 1.50%

    Express a rate as a formula against an index you publish. When prime moves, you publish the new index value once and every rate built on it resolves correctly from that effective date forward. No sweep, no spreadsheet, no product by product update.

  • Rate grids

    LTV by credit score

    Price a mortgage across two or more dimensions at once. Treasury authors the grid in Excel, imports it, and each cell carries its own version history. Change one cell without touching the rest of the table.

  • Tiered deposit rates

    Balance banded

    Pay different rates at different balance bands, with the band thresholds and the rates versioned together. Change the shape of the tier ladder without rebuilding the product.

  • Earnings credit rates

    ECR, governed

    The rate that earns commercial clients credit against their service charges is published and versioned like any other rate. Index it to a benchmark or tier it by balance, set a floor and ceiling, and let Deal Desk negotiate within them.

  • Intro then standard

    Sequenced terms

    Run a fixed introductory rate for a defined period, then hand off automatically to an indexed rate. The sequence is part of the rate definition, so nothing has to be remembered or reversed by hand.

Key capabilities

  • Five rate structures, one model

    Fixed, indexed, tiered, grid, and sequenced rates are all first class. You are not bending a fee model into the shape of an interest rate, which is where most billing systems start to break.

  • Indexes you publish once

    Define your own indexes, publish a new value with an effective date, and every rate that references it resolves correctly. Index publications are versioned in their own right, so you can always answer what the rate was on a given day.

  • Effective dating on every value

    A rate value carries a version number, an effective date, who published it, and why. Draft and in review values are never billable. Resolution at any point in time returns exactly what was live on that date.

  • Corrections without rewriting history

    When a published value was wrong, issue a correction that supersedes it. The original stays on the record with its lineage intact. Auditors get the full story rather than a silently edited number.

  • Guardrails before publication

    Set floors, ceilings, and a maximum change per period on a rate. A publication that would breach them is caught before it reaches a customer rather than after.

  • Built for how rates are disclosed

    Compounding, day count conventions, and APY presentation are part of the rate definition. What you publish to customers and what your core accrues against come from the same source.

Start with the rate nobody wants to touch

The sequenced one, or the grid. We would rather model that live than show you a simple one.

or email us at hello@fincarna.com