Registrar and Transfer Agents KFin Technologies (KFintech) and Computer Age Management Services (CAMS) have launched Phase 1 of MFCentral, an online platform that allows investors to carry out all transactions at a single place. The platform will offer standardized and uniform processes, inter-operability and future ready architecture for scale and speed.
“We are pleased to bring the MFCentral platform to the investor community. The 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,” said Anuj Kumar, Managing Director, CAMS.
In addition to a single portfolio view, the platform will offer complete fungibility of physical and digital services. Investors can generate reports on unclaimed payments and raising service requests for non-commercial transactions (Digital and Scan based), such as nominee change and address update.
Speaking on the launch, Sreekanth Nadella, CEO, KFintech said, “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 foundation for a secure, resilient and hyperscale 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 2021. In the first phase which goes live today, investors will be able to execute 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.
Currently in Phase 1, MFCentral allows for non-financial transactions. In Phase 2, MFCentral will be available as a mobile application, and in Phase 3, MFCentral will enable the investors to make commercial transactions and investments into mutual fund units and distributors’ login along with their associated services will be rendered.
