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eFront gains new regional German bank customer for its FrontInvest software
eFront is pleased to announce that NRW.BANK has chosen its FrontInvest solution to provide them with an advanced, highly extensible end-to-end platform dedicated to alternative asset management.
The new customer, NRW.BANK, is the development bank for the state of North Rhine-Westphalia, Germany, and offers a full range of financial development products for business start-up and mid-market development, social housing promotion, infrastructure funding and municipal finance. In that context NRW.BANK offers a variety of equity related products and so far has built a substantial portfolio of captive funds and investment companies.
“Previously, we managed our funds and investments with Excel and different data bases,” explained Stefan Buechter, Head of Funds and Business Management at NRW.BANK. “We were seeking a solution to support all our fund and investment structures and we received a great deal of positive feedback from several other eFront customers in Germany.”
NRW.BANK has purchased the Fund Management and Portfolio Management (PE direct and Fund of Fund) modules, as well as the Frontware platform. They will give the bank the ability to manage complex investment structures, funds and direct investments in a single system with flexible reporting capabilities.
“NRW.BANK works with very complex investment instruments and different asset classes,” said Philippe Verboogen, eFront Chief Operation Officer for Europe and Africa. “eFront was able to provide them with a solution that fits their needs for comprehensive asset class coverage and dynamic dashboard reporting. We’re managing the project with a highly skilled local team that will also provide help desk services.”
About NRW Bank
NRW.BANK is the development bank for the State of North Rhine-Westphalia. It supports its owner, the State of North Rhine-Westphalia, with regard to important structural tasks. Competition-
eFront is a leading software provider of end-to-end solutions dedicated to the financial industry with a recognized expertise in alternative investments and risk management. eFront’s solutions serve more than 300 customers in 38 countries, including companies in the private equity, real estate investment, banking and insurance sectors. Founded in 1999, eFront has offices in New York, Dallas, Montreal, London, Jersey, Paris (HQ), Bonn, Dubai, Singapore, Hong Kong and Beijing.