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.

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.


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.


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.

Birla Sun Life Mutual fund launches Samriddhi and organizes exclusive investment conclave for corporate investors

India, with its thriving population and current status as an underpenetrated market for mutual funds, is now brimming with a huge base of customers looking at ways to channelize cash assets into investments. The time seems ripe to spread investor awareness like never before.

Birla Sun Life Mutual fund’s in-train magazine, Samriddhi is launched


Recently, Mr. N K Prasad, President and CEO, CAMS, launched Samriddhi, a first of its kind in-train magazine in Chennai. Available as a complimentary copy to the passengers on the Chennai-Mysuru-Chennai circuit of the Shatabdi express, this magazine, a brainchild of Birla Sun Life Mutual Fund, aims to spread financial awareness among its readers.

CAMS CEO speaks at Investment Conclave organized by Birla Sun Life Mutual Fund

Mr. N K Prasad was invited to be one of the key speakers at an exclusive event on “Investment Conclave : India in the post-demonetization era”, organized by Birla Sun Life Mutual Fund for corporate investors, at JW Marriott Hotel, Aerocity, New Delhi on 9th December 2016.

Speakers at the event comprised of officials from the top tiers of Birla Sun Life Mutual fund and CAMS, including –

  • Mr. Bhavdeep Bhatt, Head, Institutional Sales, Birla Sun Life Mutual fund
  • Mr. Maneesh Dangi, CO – CIO Fixed Income – Equity, Birla Sun Life Mutual fund
  • Mr. Mahesh Patil, CO – CIO Fixed Income – Debt, Birla Sun Life Mutual fund
  • Mr. Gautam Deo – North Head Institutional Sales
  • Mr. Tilak Raj Khanna, Asst. General Manager – Distributor Services, CAMS

At the event, Mr. N K Prasad and Mr. Tilak Raj Khanna, elaborated on ‘Technology and ease of doing investment’ while Mr. Mahesh Patil  and Mr. Maneesh Dangi addressed the gathering on Equity Market Outlook and Fixed Income Outlook, respectively.

CAMS GoCORP, a unique solution designed to meet the investment needs of corporate investors, was elaborated upon at the event, wherein the discussion touched upon the multiple advantages GoCORP brings to investors.


Corporate Mutual Fund Investments

GoCORP from CAMS, is a digital solution designed to empower institutional investors with the freedom to transact across multiple mutual funds serviced by CAMS through a single portal. Launched in July 2015, CAMS GoCORP has seen a steady enrollment from both large and mid-sized corporate houses across India.

The GoCORP portal allows corporate investors to transact across all participating CAMS serviced funds using single login with facilities to enable multiple maker and authorizer combination as approved by the board. GoCORP also addresses compliance & audit needs of corporate investors. To know more about the Transaction features, Reports/Transaction tracking and other conveniences that come with GoCorp, please click here.

About CAMS:

CAMS Logo High Resolution

Computer Age Management Services (CAMS) is India’s premier Mutual Fund Transfer Agency serving over 62% of assets of the industry across 15 Mutual Funds. Leveraging superior technology, CAMS brings several innovative services to Mutual Fund investors and distributors. CAMS is also a service partner to leading Insurance Companies, Banks, NBFCs and Alternate Investment Funds. To know more visit www.camsonline.com

Yearly Roundup – 2016

CAMS brings you a glimpse into the key events that occurred in year 2016 in the BFSI sector, both in India and abroad. Regulatory updates or important news, here are some which might have had an impact on the sector.


Early into 2016, Chinese economy displays signs of toppling markets across the world and sending currencies of emerging markets to their weakest levels in two decades.

In a dramatic turn of events , UK chooses to leave the EU in June 2016. Dubbed Brexit, the decision causes ripple effects that affect global proceedings politically and economically.

Falling in line with the anticipation of market experts around the world, the Federal Reserve hikes interest rates seeking to address issues related to labor market and inflation.


Government of India decides to merge railway budget into the main budget, indicating a strategic departure from the 92 year old practice instituted by the British. Also, budget will be presented on first working day of February, starting next year.

India’s move to demonetize Rs500 and Rs1000 notes urges consumers to go the cashless and tax compliant way.

In a move to promote and boost cashless, digital payments in the country, Niti Aayog launches ‘Lucky Grahak Yojna’ and ‘Digi Dhan Yojna’ for consumers and merchants.


In a landmark shift of stances, Indian government seeks to implement GST in 2017. GST council led by Union Finance Minister Arun Jaitley state finance ministers meets seven times to discuss amendments to be effected to GST.


Urjit Patel assumes office as the newly appointed chief of RBI in September 2016; GoI sets up Monetary Policy Committee to manage affairs concerning policy interest rates.


SEBI introduces several reforms in the past year, including relaxation of norms for start-up funding.

SEBI sources confirm registration of over 1700 fresh FPIs in the April-October quarter of the current financial year, accounting for an inflow of around Rs 2800 crore in equities alone.


Mutual fund folios reach 44 lakh mark in the eight months spanning April to November 2016 alone, with considerable amount of inflow coming from B15 regions of the country.


IRDAI mandates specific set of insurance policies to be issued in digitized, electronic form, from October 1, 2016.

The Indian Insurance industry records notable growth in year 2016, thanks to the several initiatives undertaken at the behest of the Central Government.

About CAMS

CAMS Logo High Resolution

Computer Age Management Services (CAMS) is India’s premier Mutual Fund Transfer Agency serving over 62% of assets of the industry across 16 Mutual Funds. Leveraging superior technology, CAMS brings several innovative services to Mutual Fund investors and distributors. CAMS is also a service partner to leading Insurance Companies, Banks, NBFCs and Alternate Investment Funds. To know more visit www.camsonline.com

Digitalisation drive could improve insurance penetration


If one were to measure the degree of penetration of insurance industry in the India, it would be found that there is scope for a lot more to be done. However, now there is scope for hope in this regard, with the Government of India promoting digitalisation in financial transactions with commitment and intensity.

A recent article published in Financial Express, authored by Mr. Kamalji Sahay, Director, CAMSRep, covers the many possibilities that digitalisation of economy would offer to the advantage of the insurance industry.

Excerpts from the article:

Prime Minister Narendra Modi has been vigorously pursuing the agenda of converting the country’s socio-economic landscape into a digital highway for faster and more inclusive growth. The mission is to map every Indian to a network to enable them to access all kinds of services, benefits and information without hassle and without discrimination. The current drive to move all financial transactions between any two entities or among several entities to the digital platform is a very determined effort to achieve this objective.

While Aadhaar provides a reliable identity to about 90% citizens, the stress on opening bank accounts such as a zero balance account under the Jan Dhan Yojana is targeted to make every entity KYC compliant and armed with a digital identity acquired through the bank account number or the registered mobile phone number.

In the marketing of life insurance, obtaining KYC data and processing the first premium payment have always been very challenging. During consideration of the insurance proposal, verification of several facts, right from age proof to income detail or records of previous policies, are required for evaluating the life before the risk is underwritten.

After completion of the proposal, the policy bond is printed with information on name, address, sum at risk, premium mode and amount and other conditions so that it establishes a legally valid contract between the insured and the insurer. Payment of subsequent premium with the contracted frequency and of any policy proceeds to the policyholder or the claimants has to be hassle free so that the insurer is able to honour its commitment in letter and spirit.

Lack of efficiency in this regard is the most important impediment in achieving higher insurance penetration. When an intermediary asks the potential customer for submitting KYC details, his first reaction is to either postpone buying of insurance or ask the salesman to come later. It’s worse when demands for documents even after depositing the money keep coming to the prospective policyholder. And in utter annoyance, he just refuses to talk to the sales person, depriving himself of a much-needed financial security cover. For people living in remote areas or those belonging to the disadvantaged sections of society, these issues have been a major deterrent in securing life insurance cover. The effect is visible in the low penetration of life insurance.

Aadhaar, which has been recognised by the Irdai as a valid KYC document, issue of guidelines regarding e-insurance account and insurance repositories by the regulator, opening of bank accounts by almost every eligible Indian have suddenly solved many of these latent issues. All these requirements can be complied with through networking with Aadhaar and banks. Even premium and claim payment can be smoothly transacted to minimise lapsation of policies and hassle-free credit of the insurance proceeds to the insured’s or claimant’s account .

Apart from such procedural advantages, digitalisation will enable insurers to identify prospective customers. Repositories can encourage people to go for more insurance. The environment would provide incentive to insurers to operate in villages. People in remote areas may also find it convenient to buy and maintain a few life insurance policies. The new landscape throws up opportunities for insurers to rethink their strategies and deepen their grip on the market. Those insurers who would take time to realise what has happened lately, may face the danger of being left behind in India’s quest for raising insurance penetration to the best global standard.

Article source: http://www.financialexpress.com/money/pm-narendra-modis-digitalisation-drive-can-improve-insurance-penetration-heres-how/479908/

About CAMSRep


CAMS Insurance Repository Services Ltd (CAMSRep), a subsidiary ofCAMS, is one of the major Insurance Repositories in India Licensed by Insurance Regulatory and Development Authority of India (IRDAI). CAMSRep, as an Insurance Repository opens unique eInsurance Accounts (eIA) for policy holders,which in essence are convenient, safe and relatively risk-free electronic policies. CAMSRep also acts as a single point of service for all ePolicies held by a policy holder. Apart from repository services, CAMSRep also provides outsourcing services to multiple Insurance Companies in accordance with IRDAI regulations. To know more about CAMSRep, please visit https://www.camsrepository.com/.