Intellectual Capital

Reinforcing Our Technology Edge

We remain committed to fortifying investments in technology and product development to enhance our operational performance and deliver a superior experience to our clients, investors, and distributors. We are increasingly embedding analytics and AI / ML models in our platforms which ensures speed-to-market, instant scalability, and high reliability. Our platforms and services play a pivotal role in driving the growth of the Indian Mutual Fund industry.

SDG’s Impacted

Key Platforms and Their Performance in FY24

myCAMS

This B2C mobile application enables retail mutual fund investors to manage their portfolios and transact across CAMS-serviced mutual funds. It also offers digiLoan, a feature that allows users to seamlessly and digitally avail loans against their mutual fund units through platform integration with banks and NBFCs. With over 6.6 million registered users, myCAMS remains the largest mobile app in the mutual fund sector and ranks among the top 4 fintech apps. Additionally, CAMSPay has become the preferred payment partner for mutual funds participating in myCAMS.

myCAMS in FY24

Largest mobile app in the mutual fund space with 6.6 million registered users as of March 31, 2024.

Celebrated its 10-year milestone in Q4 FY24 and remains a dominant fintech app in the mutual fund arena.

Maintains a 4.1 rating on the Play Store.

Monthly login sessions consistently exceed 1 crore.

Ranked among the top 4 fintech apps in the mutual fund market.

CAMSPay has emerged as the preferred payment partner for mutual funds participating in myCAMS, with a 73% share of purchase transaction volume.

MFCentral

MFCentral is a one-of-a-kind digital solution designed to enhance the investor experience through its unique single-window view solution. This platform allows investors to manage their entire mutual fund lifecycle engagement and conduct transactions across the entire MF industry in a digitised and automated manner. It also offers the convenience of generating unclaimed payments reports and raising service requests for non-financial transactions (both digital and scan-based). MFCentral has become the preferred platform for investors due to its unique single-window facility, addressing all investor requirements across the entire mutual fund landscape in India. Its ease of transacting across all mutual funds in the country has been a significant pull factor for investors.

The platform has gained immense popularity among mutual fund investors and ecosystem partners, evidenced by significant growth in user registrations, the number of requests received daily, daily traffic on its portal and app, and the number of ecosystem partners utilising MFCentral APIs. These indicators highlight how MFCentral has established itself as the preferred platform for mutual fund-related requirements.

MFCentral in FY24

Delivered over 1.3 lakh Consolidated Account Statement requests per day.

Launched Consolidated Capital Gain Statement (CCGS) in February 2024.

MFCentral now allows investors to download the Detailed Consolidated Account Statement in xls format, in addition to the previously available pdf format.

edge360

edge360, our digital platform for distributors and advisors, is experiencing steady adoption and increased usage. Extensive marketing efforts and informative webinars have resulted in a significant increase in new registrations, bringing the total number of registrations to over 76,000.

edge360 in FY24

76,000 registrations completed as of March 31, 2024.

Transaction volume reached 7.7 lakh in Q4 FY24, with the highest monthly transaction volume of 2.6 lakh in January 2024.

Overall transaction count for the year was 26 lakh in FY24, marking an increase of 38%.

Introduced new features such as Folio search option, Transaction cancel option by MFDs, iSIP, and account validation.

GoCORP - Portal for Institutional Investors

GoCORP is a market-leading platform for institutional investors, providing a single gateway to transact across multiple participating mutual funds. The CAMS DAIS (Digital, Analytics, and Intermediary Services) team is dedicated to enrolling more corporate clients for institutional transactions, continually expanding the platform’s reach and capabilities.

GoCORP in FY24

Total registration count: 8,013 unique PANs.

AuM serviced by GoCORP: ₹ 2.1 trillion, representing 16.4% of the total institutional AuM of CAMS serviced funds.

CAMServ

CAMServ is a customisable, self-service chatbot available on the CAMS website, select AMC websites (as a white-labelled service), and WhatsApp. Recently revamped to provide a clutter-free and enhanced experience for investors, CAMServ now supports new financial transactions such as Switch, SIP, STP/SWP, along with lumpsum purchases and redemptions. Additionally, a distributor-based chatbot has been developed, enabling distributors to generate transaction links for their investors, facilitating seamless transaction completion. We are also working on integrating Natural Language Processing (NLP) and multilingual capabilities into the chatbot, which are expected to be completed shortly.

eKYC

CAMS is among the eight entities to launch eKYC using OTP-based Aadhaar authentication, enabling a hassle-free digital KYC process for new mutual fund investors. The process incorporates advanced techniques such as OCR tools for information retrieval from images and bank validation via the penny drop mechanism, in line with SEBI regulations. Features like Pause & Resume flows are available in CAMS digital properties and will be gradually enabled for clients’ digital properties.

eKYC in FY24

Over 1,500 new investors use the eKYC utility daily, with around 80% conversion.

Digilocker integration offers an additional option for eKYC.

An industry-first initiative enables online updating of contact details and addresses in KYCs, completing the process in just 10 minutes.

Launched an Online KYC Modification (Re-KYC) facility for all KRA PANs, allowing investors to modify all their KYC details with mandatory DigiLocker validation.

Over 600 PANs per day are submitted for KYC Modification via CAMS eKYC.

Loan Against MF Holdings with digiLoan

digiLoan empowers around 25 banks and NBFCs, enabling them to offer loans up to ₹1 crore by pledging debt and/or equity mutual funds through a completely paperless, digital process. We have implemented a new CAS-based process flow that seamlessly integrates with partner net banking platforms, eliminating the need for separate logins and redirects for customers. This process also supports lien marking of mutual fund units, including those held in either or survivor mode, broadening its scope and promoting product adoption. Additionally, the feature for online lien invocation and revocation via APIs has been made available to financiers, providing enhanced convenience for both existing and new clients. These features make the digiLoan process efficient and user-friendly, encouraging greater adoption among financial institutions and their customers.

CAMS WealthServ

Our digital onboarding platform for AIF and PMS investors has become the preferred digital onboarding solution for the Alternatives Industry. With over 130 clients, WealthServ has expanded its capabilities to cover post-customer onboarding use cases, such as additional transactions, portfolio views, dashboards, reporting, and customer service. This transformation has turned the WealthServ platform into a comprehensive digital services stack for the Alternatives Industry.

CAMS WealthServ in FY24

130+
Clients

Think360.ai

Think360.ai, a CAMS subsidiary, has been recognised by FinTech Global in their 3rd Edition of the AIFintech100 list of the world’s most innovative companies developing AI technologies in financial services. Notably, Think360.ai is the only company in India and one of just five companies in the Asia Pacific region to receive this prestigious recognition. Think360.ai earned its place on FinTech Global’s Top 100 list by demonstrating a significant ability to solve industry problems, innovate, raise capital, increase revenue, and gain customer traction. The solutions provided by Think360.ai have enabled clients to achieve potential cost savings, efficiency improvements, enhanced value chains, and increased revenue generation.

Bima Central

We are excited to announce the launch of Bima Central, an Insurtech initiative from our Insurance repository (CAMSRep), which aims to revolutionise policyholder services. The platform has been gaining steady momentum in developing policyholder journeys and onboarding insurers. The Minimum Marketable Product (MMP) will be ready shortly, featuring basic services to onboard existing eIA holders to Bima Central. The MMP will enable eIA holders to update and maintain their profile data (such as contact details, family members, bank account details, and other related KYC information). Additionally, they will be able to add policies for conversion, view their insurance portfolio, and access their insurance calendar. New customers will also be able to open an eIA on the fly and add policies for conversion by simply taking a picture of the policy schedule or uploading the policy PDF. Bima Central aims to bring a new paradigm in policyholder services, providing a seamless and efficient experience for all users.