CAMSfinserv integrates 17 AMCs on account aggregator platform
CAMSfinserv, an RBI-licensed Account Aggregator (AA) in India, declared its alliance with all seventeen Asset Management Companies (AMCs) serviced by CAMS. This integration positions CAMSfinserv as the first in the sector to offer comprehensive access to mutual fund data via the AA platform.
This strategic integration is set to transform the AA framework within India. Customers stand to gain immensely as they can now seamlessly access and share their mutual fund holdings alongside bank account transactions via a unified, secure platform. This not only streamlines investment tracking but also empowers users to pinpoint savings opportunities and make informed financial decisions. Moreover, the collaboration enables AMCs to offer enhanced user experiences, leading to increased customer retention, while also facilitating improved risk management, ensuring regulatory compliance, and paving the way for personalized financial services.
Speaking on this landmark development, Anuj Kumar, Managing Director of CAMS, articulated his enthusiasm, “The amalgamation of all seventeen Mutual Funds served by CAMS on the CAMSfinserv AA platform marks a pivotal moment in the evolution of India’s AA ecosystem. Recognizing the potential to elevate the financial experiences for our expansive base of 2.7 crore mutual fund consumers, this move is truly monumental.” Anuj Kumar also highlighted the added benefits, such as expedited loan approvals, an enriched single-view of customer assets, and enhanced investment advice.
Positioned as a foremost Account Aggregator in India, CAMSfinserv boasts fifty-four entities, spanning banks to insurers, active on its platform as Financial Information Providers. This gives CAMSfinserv’s vast network of over a hundred Financial Information Users unparalleled access to India’s financial landscape, enabling the development of end-to-end digital solutions rooted in user consent and driven by dependable data.
Beyond CAMSfinserv’s AA services, subsidiaries Sterling Software and Think360.ai are pushing the envelope further, offering state-of-the-art Technology Service Provider services and advanced Data Analytics. This holistic approach aims to inject innovative, secure, and ultra-efficient digital data solutions into the heart of the Indian financial ecosystem. Notable offerings include the Bank Statement Analyser and GST Analyser, courtesy of Think360.ai’s Data Analytics services.