eFront, a leading software provider of financial solutions for managing alternative investments, is pleased to announce that the deployment of its FrontInvest solution at CDIB has gone live. CDIB is a leading investment bank in Taiwan and recently chose eFront to support the growth of its fund management business in Mainland China.
CDIB, formerly known as the China Development Corporation, was established in 1959 as the first private development-oriented financial institution in Taiwan. Over the past 50 years, CDIB has concentrated in the principal investment and corporate banking businesses. It has invested in and provided services to domestic and overseas clients in many industries, and it continues to play a critical role in Taiwan’s venture capital market.
Meeting the needs of regional development is a critical interest for CDIB and its subsidiaries and they continue to collaborate with leading businesses to raise private equity funds for that purpose.
This deployment of a complete front-to-back eFront solution was accomplished very fast so that CDIB could quickly set up and run its private equity fund management business. CDIB is currently using the deal flow management, fund raising, portfolio management, fund accounting, portfolio analytics and investor management FrontInvest modules.
“CDIB is in the early stages of our private equity business implementation and so we benefit from eFront’s strong local support as well as their valuable built-in best practices,” commented Jasmine Tseng, Senior Vice President at Principal Investment Department of CDIB.
“The go live of eFront's solution further demonstrates our ability to deliver solutions so rapidly that our clients consistently realize tangible results,” commented Henry Lin, Sales Director, eFront Greater China. “I also credit the rapid deployment to our highly experienced project team and the great support and cooperation we received from the CDIB team.”