MFCentral is a collaborative effort of KFintech and CAMS, the Mutual Fund Registrar and Transfer Agents in association with AMFI, which will offer investor experience with the mutual fund industry through its single window view across all mutual funds.
KFin Technologies (KFintech) and CAMS today launched MFCentral, a digital solution for mutual fund investors. The platform expects to transform investor experience with the mutual fund industry through its single window view across all mutual funds.
MFCentral is a collaborative effort of KFintech and CAMS, the Mutual Fund Registrar and Transfer Agents in association with AMFI. The company claims that for the first time in the industry, MFCentral will offer digital access to investor lifecycle engagement with the entire MF industry under one roof. The platform also claims to render all conceivable transaction types across the industry participants in a highly automated and digitized manner. Some of the platform’s features include interoperability, standardized and uniform processes.
Anuj Kumar, Managing Director, CAMS says, “The MFCentral platform will bring about simplification in mutual funds services and reduce turnaround times while providing safe access. Leveraging the power of digital, MFCentral provides a unified gateway for friction-less services across all mutual funds”.
In addition to a single portfolio view, the platform claims that it strives for the complete fungibility of physical and digital services. It will offer investors the added convenience of generating reports on unclaimed payments and raising service requests for non-commercial transactions (Digital and Scan based), such as nominee change and address update.
Sreekanth Nadella, CEO, KFintech says, “The launch of MFCentral is a milestone moment in the Indian MF industry. At the heart of the platform lie four fundamental objectives –
1. Step change in ease of doing business for investors, intermediaries and AMCs;
2. Lay the foundation for a secure, resilient and hyper-scale processing infrastructure to meet exponential growth expected in the MF industry;
3. Construct an Info superhighway to provide best in class analytics to the Regulator, AMCs and ecosystem partners and
4. Rationalize redundancy in industry’s efforts and costs.”
The platform is conceptualized to go live in three phases, by the end of December 2021. The first phase, going live today, covers non-commercial transactions (service requests of investors), financial portfolio view, and consolidated account statement amongst other features. The next two phases will see the launch of a mobility platform, financial transactions, and integration with ecosystem partners for several value-added services.