eFront, a leading provider of financial solutions for managing alternative investments, today announces that the European Investment Fund (EIF) has successfully upgraded to the latest version of FrontInvest.
EIF is Europe’s leading provider of risk financing to stimulate entrepreneurship and innovation, supporting micro, small and medium-sized companies throughout their entire life cycles.
EIF has been a user of FrontInvest since 2003. Although the original deployment of FrontInvest was very successful, EIF wanted to expand the solution’s capabilities while increasing the usability and usage of the solution across its employee base. Another desire was to leverage the new capabilities to more closely support the firm’s current requirements and processes. The fund also needed to integrate to its alternative investments operations a microloan management solution to automate recurring transactions.
By extending FrontInvest’s functional scope via the solution’s powerful configuration capabilities, more of EIF’s business needs will be met. The successful upgrade to eFront`s latest technology was enabled by close collaboration across the solution and business experts from both companies.
EIF provides debt products to financial intermediaries targeting micro-enterprises through different EU initiatives and mandates. FrontInvest supports this business activity with its dedicated loan management module, FrontLoan. Users benefit from the enhanced user interface, extended process flows, and better performance while they track investment activity with advanced reports and dashboards.
José Grincho, Associate Director, Head of Information and Project Management Office, says: “Our aim in extending FrontInvest’s scope was clearly defined: to use a solution able to deal with the complexity of our various investment instruments, in an integrated and controlled manner, benefitting from the latest innovative technologies. As an early adopter of eFront technology, we decided to renew our confidence in eFront and benefit from their team’s knowledge and experience.”
Philippe Verboogen, COO, eFront Continental Europe, adds: “EIF is a very important client for us. eFront has made substantial investment in its products to expand its market position while providing existing clients with innovative, integrated solutions with expansive capabilities. When an organization with the reputation and influence of EIF expresses confidence in our products, it’s an important statement which we value considerably.”