Computer Age's arm collaborates with Microsoft India to develop Account Aggregator marketplace

29 Apr 2022 , 12:58 PM

Computer Age Management Services Limited informed that its wholly-owned subsidiary CAMSfinserv is working with Microsoft India to develop a robust technology foundation for the Account Aggregator (AA) marketplace in India, to accelerate digital transformation in areas such as credit lending, investment advisory, and personal finance management.

CAMSfinserv and Microsoft will work jointly to empower the Account Aggregator ecosystem by developing the digital capabilities necessary for stakeholders to seamlessly collaborate with each other, and drive inclusive financial growth in India.

CAMSfinserv is one of the first licensees to launch the path-breaking Account Aggregator services envisioned for consent-based data aggregation and sharing. Running on the Microsoft Azure cloud platform, CAMSfinserv’s AA offering will assure users with stringent commitments on uptime and speed of delivery while benefitting from Microsoft’s industry-aligned solutions supplemented by its strong R&D and product engineering capabilities.

Expanding on this initiative, Anuj Kumar, Managing Director CAMS, said “We have been the financial infrastructure for the Indian Mutual Fund industry and have over two decades of experience serving investors and the complex ecosystem while scaling up to build a market share of over 70% in this arena.”

He further added, “The Account Aggregator model represents a brand-new opportunity to make a difference in the rapid financialization taking place in the country. Our relationship with Microsoft is a natural outcome of this quest to deliver gold standards as the Account Aggregator space expands and gains relevance.”

At around 1.04 PM, CAMS was trading at Rs2,488.50 per piece, down by Rs28.75 or 1.14% from its previous closing of Rs2,517.25 on the BSE. So far in the day, it touched a high and low of Rs2,534.95 and Rs2,475 respectively.