EIF upgrades to latest version of FrontInvest
The European Investment Fund, which has close to €6bn invested in European micro, small and mid sized businesses, has upgraded its operations to the latest version of FrontInvest.
Provided by eFront, which specialises in the solutions for managing alternative investments, FrontInvest will be used by the EIF to help manage the venture and growth capital, guarantees and microfinance instruments it uses to target its investments.
The upgrade was demanded in order to increase usage by the EIF’s employee base, while also being able to integrate additional functionality needed to manage automated recurring transactions from its microloan activities.
José Grincho, EIF associate director, head of Information and Project Management Office, said: “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, benefiting 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.”