Up to June 05 the Irish Banks each operated different clearing rates for cheques and giros, making it difficult to identify or to manage the corporate current account balance. It also made it especially difficult to validate overdraft interest thereafter.

Finalysis 'Overdraft Interest Calculator' (OIC) made it possible to identify and to manage the daily current account balance, to analyse and to verify overdraft interest and to achieve full efficiency across all account operations. As changes were thereafter made in the bank clearing arrangements, OIC was updated to reflect these changes. Not surprising the product proved very popular with accountants and medium sized businesses (SMES).