CAMS and Google Cloud Partner to Transform Mutual Fund Services in India

On July 1, 2024, Computer Age Management Services Ltd, India’s largest registrar and transfer agent for mutual funds regulated by SEBI, announced a partnership with Google Cloud to revolutionise financial services.

Computer Age Management Services Ltd has been a cornerstone of India’s asset management industry for nearly 30 years, facilitating growth, compliance, and investor services. Their new platform, developed with Google Cloud, aims to harness cloud-based advantages and emerging technologies to cater to digital-savvy investors. The platform will feature modular design, AI-driven digital tools, and robust data management, enhancing efficiency and accuracy through automated transaction processing.

CAMS and Google Cloud have collaborated closely to introduce advanced security measures and digital sovereignty features unique to the Indian market.

Commenting on the initiative, Anuj Kumar, Managing Director at CAMS, said, “Our technology platform has been the financial infrastructure for the Indian Mutual Fund industry, serving investors and the complex ecosystem diligently, while scaling up to build a market-share of about 68% in this arena.”

He further added, “While the current platform continues to stand the test of time, the company is gearing up for the industry’s growth momentum with a modernised platform that will adopt a distributed, service-oriented, cloud-native architecture with a modular design to ensure flexibility, scalability & improved time-to-market, and will ensure zero-downtime deployments. We are excited to traverse this modernisation agenda with Google Cloud who amply demonstrated their domain expertise and brought to the table a robust solution that is best-in-breed and compliant to the laws and regulatory standards.”

The platform will be created in stages over 5 years, with different modules being launched gradually. CAMS will fund this transformation project using its own earnings, and it is anticipated that this investment won’t significantly affect profit margins during the implementation period.

About Computer Age Management Services Ltd

Computer Age Management Services Ltd serves as a crucial financial infrastructure and service provider to the asset management industry. It offers platform-based services to the BFSI sector in India. CAMS is dominant as India’s largest registrar and transfer agent for mutual funds, commanding around 68% market share based on average assets under management (AUM).

On July 02, 2024, Computer Age Management Services Ltd’s share price opened at ₹3,727.10, touching the day’s high at ₹3,768.25 as of 11:52 AM on NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.