Germany’s NRW.BANK selects eFront for asset management solution
NRW. BANK, the development bank for the state of North Rhine-Westphalia in Germany, has picked eFront to supply an asset management platform.
NRW’s focus is businesses in start-up or mid-market development stage, social housing, infrastructure, and municipal financing. Consequently, the bank has developed a portfolio of funds and investment companies, which used to be managed using Microsoft’s Excel spreadsheet application as well as different data bases.
Stefan Buechter, head of Funds and Business Management at NRW said feedback from other eFront customers when his bank started the process of finding a better solution was a key reason for the selection.
NRW will use eFront’s Frontware platform along with its Fund Management and Portfolio Management modules. These will be used to mange investment structures, funds and direct investments through a single system, which should also improve the reporting capabilities of NRW on its asset management activities.