Be at peace with your tax filing and enjoy the spring breeze with myCAMS

Come March, the winter chills are starting to fade away and you want to enjoy the onset of spring. But it’s also that time of the year when planning for taxes, choosing and making the right investment becomes important.

You end up postponing this as you have to set aside a few hours to access multiple websites, update your portfolio, take stock of your finances, make some exit decisions and start making tax saving investments, all before this month ends.

Choose a simple, hassle-free platform for all your mutual fund services. Use myCAMS for creating a portfolio view, making transactions, starting SIPs, opening new folios and a variety of other cool features that can be used across 18 Mutual Funds.

Do you plan to do your tax-saving investment later this month? Just use the ‘Schedule transactions’ feature on myCAMS, set the date of the transaction, and be at peace without having to worry about missing out on doing the transaction.

Or are you looking to redeem from another investment to make tax savings investment, but are not clear on the tax and exit implications? Choose the most economical fund using the ‘Redemption guide’ facility which lists out the best-suited fund based on tax impact, exit load and performance.

All this and more, at the click of a button on myCAMS. Just log-in with your registered mail ID and you are set to discover a whole new world of possibilities on one, easy-to-use platform.

Visit: https://mycams.camsonline.com/

Or

Download the myCAMS app now!

Advertisements

Unleashing the Digital Power to Distribution

Café Mutual’s IFA event (CIFA) 2019 was held with the theme ‘Lago Raho IFA Bhai’, aimed at advisors and distributors interested in practical ideas and deep insights to grow their business. The event witnessed a spectacular gathering on February 21st, 2019 at Taj Lands End, Mumbai. A galaxy of speakers comprising India’s best-regarded advisors, experts, MF industry’s most celebrated CIOs, and top CEOs covered a range of interesting and carefully hand-picked topics.

Mr. Anuj Kumar President and CEO of CAMS  delivered a power-packed presentation on the topic “Digital Power to Distribution”- to enunciate why embracing digital technology is not an option anymore and how a wide range of digital initiatives are readily available for distributors.

Digital technology is transforming everything we do and is deeply influencing every walk of our life, be it purchasing products, consuming services and making decisions. The digital megatrend has set its footprints across every industry like financial services, government, retail, transportation, education and more.

Today’s digital platforms are empowering entrepreneurs to accelerate innovation for their business with quick access to markets, finance and marketing using plug and play digital tools. Mr. Anuj Kumar said, “Digital is helping enterprises and entrepreneurs completely reset and redefine service benchmarks”. He also highlighted that data-on-digital influence in financial products is among the highest.

The recent BCG report highlights 70% of urban consumers use digital in purchasing financial products. This trend is predominant in the insurance sector witnessing an end-to-end digital adoption of these services. Additionally, the private banks and their branches in India are fast becoming digital compared to their western counterparts. Bank customers are self-managing their transactions and the branches ensure the deepening customer relationship through the digital route.

Why do Mutual Fund distributors need to exploit digital power?

CAMS data points to 42 lakh new investors added in MFs for 2018 and the lion’s share of it, i.e. 10 lakhs, was done only by IFAs compared to other distribution sources.

Here are a few interesting facts shared by Mr. Anuj Kumar for IFAs:

  • 60% from T 30 cities – investors seeking digital services
  • 60% SIP – needs to be serviced digitally to investors over the next 3-4-year period
  • 50% of new investors are millennials – delivering a digitally powered service is the only way
  • 77% via paper – not a scalable model, has cost implications and severely limits growth

Digital Power from RTAs and AMCs

CAMS, being one of the leading RTAs in the Mutual Fund industry, has leveraged its superior technology and launched innovative products for Distributors

  • An eKYC solution for customer on-boarding
  • Digital transaction submission and statements
  • Mailback services provide a vast array of digital reports and MIS

A sneak-peak on the features upcoming CAMS Distributor platform was also presented:

  • Investor on-boarding with eKYC
  • Seamless transaction initiation
  • Generate investor statements
  • Vast reports and insightful MIS
  • Dashboards to monitor the business trends
  • Revenue tracker

The session was concluded with two key takeaways:

  1. The power of digital is shaping lives and businesses. This is the reality and the new generation is indelibly influenced by this digital power.
  2.  It’s a great time for IFAs to formulate a strategy to enable digital transformation in lockstep with their existing processes.

IFA Galaxy Annual Summit comes with – RE-FRESH – RE-LEARN – RE-BOOT theme

The much awaited 9th edition of the IFA Galaxy Annual Knowledge Summit comes with the latest theme “IFA 2.0 – RE-FRESH.RE-LEARN.RE-BOOT” which is held on 1st and 2nd February 2019 at Hotel Green Park, Vadapalani, Chennai. The event attracted close to 500+ attendees that include pioneers, thought leaders and other stakeholders across the industry.  This year’s event aims to equip IFAs with knowledge and provide a source of encouragement. IFAs, particularly from small cities and towns who don’t have access to industry experts, got an opportunity to network with leading CEOs, CIOs, and top distributors during the event.

The welcome address was delivered by Mr. VK Sudharsan President, IFA Galaxy followed by an inaugural address by Mr. Sankaran Naren, ED and CIO, ICICI Prudential Asset Management Company.
During the keynote address, by Ms. Radhika Gupta, CEO, Edelweiss Asset Management shared many provoking thoughts from her experience and a praiseworthy one being “Timeless advice is behavioral, not technical”, was received with huge applause from the audience.

CAMS was also one of the gold partners participated in IFA Galaxy event this year. The event attendees eagerly visited CAMS stall and learned about the new eKYC solution for distributors offered. CAMS personnel educated attendees about the recently launched eKYC solution and the benefits it offers.

Here are a few energized moments captured at CAMS stall of IFA Galaxy event.

CAMS HFC (3)

The afternoon session of IFA Galaxy lined up an impressive array of eminent speakers who had handpicked on the carefully chosen topics which are very important for IFAs (Independent Financial Advisors) in the new paradigm.

Some interesting sessions of the day were

  • Opportunity Amidst Challenges – Mr. Saugata Chatterjee, Co-Chief Business Officer, Reliance Nippon Asset Management Company
  • Creating a Digital Presence for Bettering Sales – Mr. Kiruba Shankar, CEO, Business Blogging
  • Living through TER cuts and Upfront Ban – Mr. Swarup Mohanty, CEO Mirae Asset AMC
  • Thinking Long Term – Mr. Ajay Tyagi, Exec, VP UTI Asset Management Company

 

The IFA Galaxy team organized a panel discussion on the topic “What an IFA needs to do to RE-FRESH – RE-LEARN – RE-BOOT”. The key takeaway is it insists IFAs relearn business nuances, reboot if necessary and scale up successfully in the coming years to sustain growth.

 

Finally, the power-packed first day at IFA Galaxy ended with an inspiring and motivational speech by Swami Mitranananda.

Coming up, Day 2 with more greater moments. Stay tuned!

GoCORP wins coveted award at Drivers of Digital Summit 2018

The recent DoD summit held at Mumbai attracted the participation of leading brands in banking, insurance, mutual funds, broking and payments.  The awards recognize brands which leverage technology to drive digital adoption to propel growth, inclusion and transformational customer experience.

CAMS GoCORP won the award for Use of Digital Media in the Mutual Fund category.

This award was received on behalf of CAMS by Mr. Tilak Raj Khanna, General Manager, Digital, Analytics & Intermediary Service and Mr. Prabal Nag, Senior Vice President, Business Development CAMS.

Pain points of Corporates in MF Investing
In the traditional model, MF transaction preparation and execution is handled directly by the treasury and finance departments of corporate houses. Multiple transaction forms and cheques preparation, signatures from multiple authorized signatories are time and coordination intensive tasks. Inherent problems with the paper-based transactions were

  • The market lacked an aggregator platform. Corporates had to deal with multiple fund houses for transaction confirmation & Statement of Account
  • Manual paper work prone to errors that can have financial consequences
  • Short time-window for liquid scheme investments, especially when multiple authorized signatories are involved. Multiple complexities in case of group companies.
  • Multiple follow-ups required to reconcile transactions

CAMS GoCORP Solution for Corporates
CAMS envisaged that leveraging the “digital” mega trend will bring the next big game changing transformation to corporate houses investing in Mutual Funds. It launched GoCORP in 2015, an aggregator platform for corporate investors to execute paper-less transactions across multiple mutual funds though a single platform.

GoCORP brings rich features and superior processing, one view of Mutual Fund investments and much more for Corporates

Access and Execution Control

  • One login to access 17 participating mutual funds
  • Maker, authorizer — Customizations for authorized signatory hierarchies
  • Parent and Group company’s signatory customizations
  • SMS/email alerts for maker and authorizer to verify and authorize transactions
  • Electronic time stamping at server on receipt of transactions

Transaction Features

  • Additional purchase, redemption and switch
  • Purchase in existing schemes and new schemes
  • Corporate can transact in direct plan and regular/intermediated plan of mutual funds
  • Investor has option to invest either directly or via brokers
  • Payment modes: RTGS/Online Corporate Banking
  • Corporate can customize their frequent/repetitive investments as ‘Favorites’ and submit subsequent transactions with mere-2-edits
  • Facility to cancel submitted transaction
  • Corporate can schedule redemption transactions
  • Same-day Purchase & Redemption transaction can be executed
  • Bulk upload of transaction (Excel) file

Reports & Transaction Tracker

  • Consolidated Portfolio Valuation (with % allocation in Mutual Funds/Asset Class)
  • Audit Report to fetch transaction status based on date range
  • Capital Gain Statement with appreciation/loss, XiRR
  • Single window view of submitted transaction details, with selection across group co./funds/folios
  • Generate Fund house Account Statement – period specific
  • Quick dashboard enables to identify if any transaction pending to be authorized

Impact of GoCORP

GoCORP portal is secure and does not store any information in the local system. All information provided travel over secure mode to the server with a high level of encryption to ensure transaction safety. Apart from this, other best practices have been taken to protect the interest of Corporate Investors.

Benefits to Corporate Investors:

  • Zero paper work
  • Elimination of errors while preparing paper-based orders
  • Anytime, anywhere approval of transactions by authorised signatories – physical presence requirement eliminated
  • Electronic management of orders facilitating reconciliation of monies
  • Enhanced Portfolio management leading to improved treasury management

The platform user base has doubled in the past 12 months to touch 2400 registered corporate houses which is nearly 50% of the corporates who currently invest in Mutual Funds. It has seen staggering increase in transactions recording about Rs.2.5 trillion gross transaction value and Rs.1.25 trillion purchase value every month, unmatched by any other platform/ website / stock exchanges which serve the Mutual Fund industry.

CAMS Celebrates 5-Year Relationship with Hero FinCorp with a Road Safety Event

10-second takeaway: CAMS takes immense pride in building longstanding client relationships and work with Hero FinCorp over the last five years is one such example. To celebrate this significant milestone, CAMS conducted an event to build awareness around road safety.

Road accidents are a significant problem in Tamil Nadu. In fact, according to the National Report on Road Accidents in India (2016), over 14.9% of all accidents in India take place in the state. Tamil Nadu also reported the maximum number of persons injured in road accidents, accounting for 16.6% of the cases nationally. Nationally, two-wheelers seem to be the most vulnerable segment, constituting 34.8% of all road accidents. In 2016 alone, over 10,000 two-wheeler riders met with fatal accidents because they were not wearing their helmet. The solution to this problem is to increase adoption of safety measures, and the first step towards achieving this is building awareness.

To drive the adoption of these safety practices, we collaborated with Hero FinCorp to create an awareness drive. “As a retail financing service provider, Hero FinCorp has been an integral part of India’s growing presence in the global two-wheeler market. At CAMS, we take great pleasure in being the technology backbone supporting HFC’s growth for the last five years. We are honored to commemorate this occasion with a cause that addresses a problem as important as road safety and are glad that the event was a great success,” said, Abhishek Mishra , SVP – Banks / NBFCs, CAMS.

2

The event kicked off at MRC Nagar with CAMS employees carrying placards that underlined the importance of road safety.  In an act of positive reinforcement, the volunteers then handed out 50 bike helmets to commuters riding without them.

3

An internal version of this event saw 7000 employees in attendance, further spreading the message of responsibility and safety on the road. While this was a small step in the right direction, we believe that a concerted effort can drive longstanding change in the journey to a safer India.

Investing in SIPs has just gotten a whole lot easier with digiSIP

“Mutual funds Sahi Hai”

If you are reading this post, it’s unlikely that you haven’t heard this line before. The campaign, which has added 40 lakh new investors over the past year ending June 2018, suggests that Mutual Funds are being considered as the right choice of instrument by first-time investors. SIPs being the preferred route for individual investors saw exponential growth in the last 12 months with over 1.25 crore new registrations contributed by both seasoned investors and new investors. While awareness has been a catalyst for this growth, the importance of the quality of investor experience cannot be discounted. First-time investors and even existing investors continue to grapple with one question – how to invest? Ease of access, speed and simplicity are the unstated demands that all investors make.

Enter digiSIP

Our latest digital innovation, digiSIP, transforms the SIP investment process for both investors and distributors. digiSIP’s range of features helps existing and new investors start an SIP with ease. However, that’s not all. Every aspect of digiSIP has been built with a focus on the end-user, ensuring that the product isn’t just efficient and easy to use, but also addresses real problems.

For instance, we have found that the fear of complexity and poor experience are two of the main factors that keep first-time investors from getting their toes wet. Starting an SIP takes about 30 business days via traditional channels.  Also, when you’re looking to build a diversified portfolio, it can be frustrating and cumbersome to go through inefficient paperwork, time after time. digiSIP transforms that experience through best-in-class tech paired with a user experience designed to be intuitive and seamless. Here is a look at some of the platform’s features.

Quick and Paperless way to start an SIP with CAMS serviced Funds

digiSIP has given the SIP registration process a complete digital overhaul. Now investors can start an SIP faster than before—in just seven business days, with absolutely no paperwork. The digital interface also helps investors and distributors track the progress of their SIP registrations anytime they want, anywhere they want.   All this and more across 15 Mutual Funds serviced by CAMS.

Hassle-free registration

New investors have the added benefit of completing their e-KYC online to ensure a hassle-free SIP registration process. Once an investor is KYC compliant, they can start an SIP online without submitting their signature. Existing investors can set up SIPs in just a few clicks with the help of digiSIP’s powerful pre-filled forms. Click-based data entry eliminates the need to fill in the same information across multiple forms and also speeds up the process and eliminates the chances of data input errors. Investors can also choose to set up multiple SIPs simultaneously helping them save time.

Ease of payment with eMandate

CAMS eMandate helps investors and distributors start an SIP faster than before. It is aimed at helping investors seamlessly register mandates online. The same mandate can then be used as a mode of payment across multiple SIPs or to make lump-sum purchases. You can register an eMandate in just about 2-3 days, unlike paper-based mandate forms which can take up to 10-20 days for registration. Valid for both existing and new SIPs, a single eMandate allows investors to invest in multiple SIPs and stagger their investments across the entire month.

digiSIP for distributors

digiSIP helps distributors simplify their sales processes and improve operational efficiency with the help of a built-for-purpose workflow, allowing distributors to focus on what they do best – building their business and enhancing their customers’ investing experiences. The platform’s click-based data-entry helps distributors save time by enabling the setting up of SIPs for their investors in just seven business days. Distributors can also make any necessary changes online with only a few clicks.

Technology is integral to progress, but at CAMS we believe it’s equally important to package and deliver innovation in a manner that improves the user experience. We see it as our responsibility to guide the progress of the industry and continue our heritage of moving the Indian financial ecosystem forward. digiSIP is a significant step in that direction.

So, don’t wait to get started. Visit www.camsonline.com now to learn more about digiSIP. It’s time to give yourself the investment experience you deserve. With digiSIP, mutual funds and SIPs ‘aur bhi sahi hai.

Discussing the need for IFAs to go from “Good to Great” at IFA Galaxy’s 8th Annual Summit

Individual Financial Advisors or IFAs are professionals who offer advice on financial matters to their clients and recommend suitable financial products from the entire market. They offer their services on various matters that include investment, retirement planning, insurance, mortgages and other related financial activities. Srikanth Tanikella, Senior VP- Mutual Fund Operations, CAMS, recently took part in a panel discussion in the 8th annual edition of the IFA Galaxy Summit held at Hotel Green Park, Chennai. This panel discussion was held on the 10th of February 2018 and the topic, in particular, was “Good is the enemy of the great”. This focused largely on the need for IFAs to adopt existing technology to keep up with the pace of growth of the sector and achieve their targets faster. The key participants of this panel discussion were:

  • Srikanth Meenakshi – Co-Founder, Funds India Ltd. (Moderator)
  • Srikanth Tanikella – Senior Vice President- Mutual Fund Operations, CAMS
  • Rajiv Shastri – Executive Director & CEO, Essel Finance
  • Anish Kumar – Regional Head- Sales, South, Canara Robeco
  • Siddhartha Bhattacharyya – Vice President and Regional Head – South, Franklin Templeton
  • Balakrishna Kini – Deputy Chief Executive, AMFI
  • Ramakrishna V Nayak – CFP, Dakshin Capital

During his talk at this panel discussion, Mr. Tanikella highlighted the need for IFAs to keep up with the growth of the Mutual Fund industry. As an individual entity who guides their clients through an entire gamut of financial investments and transactions, an IFA is expected to stay updated with the latest developments in the sector. In the context of the Mutual Fund industry in India, IFAs have been working quite well towards managing their client’s wealth and expectations. However, the Mutual Fund industry in India has been growing steadily at a rate of 40% per annum, and the onus now sits on the Advisors to match this pace.

As Mr. Tanikella pointed out in his talk, “With the Mutual Fund industry going through massive upheavals due to the inroads made by technology, it is the perfect time for IFAs to work towards going from good to great”. Bio-metric eKYC, in particular, was one of the tools that he spoke about that could eliminate a lot of the slower processes involved in completing the KYC process of a customer. He further added that “IFAs need to push the use of technology while on-boarding investors. This makes the process easier for them, helping them reach their targets faster.” He went on to point out that CAMS offers a range of tools that help IFAs service their customers easily, including a few new tools that are yet to be released to the public.

2

In the case of the Indian Mutual Fund industry, it is essential that IFAs focus on staying ahead of the technological developments pushing the sector forward. This will help them take a step towards greater service. Utilizing the tools and services they currently have at their disposal is the first step in this direction. The panel discussion concluded by stating that though IFAs have achieved beyond what was expected of them earlier, their focus should now be on striving for greater results. This can only be done if they’re to take into the account the development of newer tools and leverage the benefits it offers.