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 the Registrar and Transfer Agents - CAMS with Kfintech in association with AMFI.
For the first time ever in the industry, MFCentral offers digital access to investor lifecycle engagement with the entire MF industry under one roof.
The platform aims to render all conceivable transaction types across the industry participants in a highly automated and digitized manner. The platform’s underlying strengths include standardized and uniform processes, inter-operability and future ready architecture for scale and speed.
In addition to a single portfolio view, the platform strives for complete fungibility of physical and digital services. It offers 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.
The platform is conceptualized to go live in three distinct phases, all of which are planned to go live by the end of this calendar year. The first phase that has gone 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.
Anuj Kumar, Managing Director, CAMS commented, “We are pleased to bring the MF Central 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, MF Central provides a unified gateway for friction-less services across all mutual funds”.
CAMS was trading at Rs3,398 apiece down by Rs32.3 or 0.94% on the BSE, at around 3:05 PM.