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.

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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.

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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.

BCP Assurance against the unforeseen

10-second takeaway: In order to constantly deliver exceptional service to partners, CAMS has launched a new site as a home for its Business Continuity Plan (BCP). The new BCP site in Coimbatore will ensure CAMS’s services are always available in a seamless manner regardless of any unprecedented events.

As a technology-driven business enabler for the financial sector in India, CAMS has had the opportunity to provide exceptional value to various BFSI players in the financial services industry.

CAMS processes nearly 20 crore transactions annually for the Mutual Fund industry on their proprietary technology platform and infrastructure, powered by a vast network of front offices across 270 locations and centralized back offices at Chennai and Coimbatore providing 24×7 accessibility around the year to investors and distributors alike.

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At the heart of its operations, the company believes in providing uninterrupted and seamless services to all its clients. With this in mind, CAMS has invested in setting up a specialized Business Continuity center. This center has been set up in the city of Coimbatore and acts as a supporting and disaster-proofing structure. This data center ensures continuity in business processes in the face of any natural calamity.

On the 1st of December, CAMS unveiled the new BCP center in Coimbatore as part of its drive to improve its technology infrastructure. The event was attended by the Heads of Operations and Technology of its various clients who interacted with the BCP team at Coimbatore. The clients expressed delight and satisfaction at CAMS’ preparedness and investments to assure business continuity at its highest standard.

The identical data centers in Chennai and Coimbatore are equipped to perform in all functions even in a stand-alone capacity, if the need arises. This also adds a layer of redundancy to the data, increasing data security. A site like this essentially states the major functions of the business, identifies which processes need to be sustained, and details how to maintain them. The focus continuity is bearing in mind the various possibilities of business disruptions. These could range from cyber-attacks to natural disasters, making it absolutely vital for CAMS to have a risk-mitigation plan to preserve the health and reputation of its processes. The functionality of the BCP site will be put through rigorous testing frequently through periodic simulation.

The enhanced center in Coimbatore will take Business Continuity to the next level with dedicated resources carrying 30% of critical activities simultaneously on a permanent basis. Alongside the data center, CAMS has also reinforced its technology infrastructure by building improved redundancy which includes better network connectivity between Chennai and Coimbatore by subscribing to NLD (National Long Distance) lines and extra bandwidth for MPLS (Multi-Protocol Label Switching) lines.

This development stands as a testament to CAMS’ dedication to ensuring there are no interruptions in the many services it offers to its clients, investors, and distributors.

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The overall goal of such a site is to eliminate or minimize the impact of an event on the business. The new site in Coimbatore also plans to improve the employment opportunities by creating an additional 450 jobs by March 2018.

The BFSI Industry is constantly making new headways into the digital realm and the need-of-the-hour is seamless and secure digital services that are available when clients and customers require it. This need is enhanced by critical functions being in play around the clock, across the globe. CAMS meets this need through a robust Business Continuity Plan paired with state-of-the-art infrastructure, the latest technology and highly committed personnel to deliver value to every stakeholder, even in the face of disasters.

Cafémutual Confluence, 2017 – Anuj Kumar, COO – Asset Management Services, on how there is a need to improve the number of distributors

10-second takeaway: There is a dire need to better train the distributors to understand and utilize the technology at their disposal to better meet constantly evolving customer expectations.

Cafémutual Confluence is the largest mutual fund distributor conference in India, attracting close to 400 distributors, and many other thought leaders and stakeholders across the industry. The sixth edition of the event was held on September 22nd at the Sahara Star, Mumbai with “Play big, think bold” as the central theme. The deliberations aimed to set the agenda for AMCs and distributors to work together to expand the industry and set new standards.

Anuj Kumar, COO-Asset Management Services, CAMS participated in a panel discussion at this event. The topic of this discussion was “Reinventing Distribution – Top distributors will look at how regulatory actions, evolving customer expectations, and technology will require a re-engineering of the distribution/advisory model”. This discussion was also attended by Dhruv Mehta, Jignesh Desai, Nitin Singh, Rajesh Krishnamoorthy, Suresh Sadagopan and Sanjay Sapre (Moderator). The focus of this discussion was the decrease in the total number of serious intermediaries and the dire need to have a mechanism to improve the number of distributors. The need to improve this solely rested on the vacuum that exists due to the availability of data but the lack of actionable insights. Revamping the distribution model to attract and train smarter distributors would help AMCs and other stakeholders improve the sales of their offerings. In short, there is a dire need to better train the distributors to understand and utilize the technology at their disposal to better meet constantly evolving customer expectations.

During this panel discussion, it was noted that inflows were coming in primarily from existing investors and a few newly added investors. Some of the suggestions made to increase the number and quality of distributors were:

  • Create an ecosystem comprising of the AMFI and the IFA which promoting it as a full-time profession.
  • Engage with the government and introduce mutual fund distribution in commerce and economics courses.
  • Highlight the enormous potential the business holds, to prospective entrants.
  • Instill a sense of pride in distribution – ensure that distributors understand that they are delivering an important service and that they are engaged in a ‘noble profession’.

During this panel discussion, Anuj Kumar underscored the need for a ‘superior enablement’. He went on to further highlight that this would entail imparting the right training and providing distributors with intelligence as to where the wealth and surplus lay. This training would comprise improving distributors’ ability to sell, developing their presentation skills, and ensuring they get the right inputs and pointers to succeed in the field. This would ensure that distributors not only feel more confident but also realize that they’re well appreciated by the IFA community.

CAMS is the Technology Partner at the 10th Annual ICC Mutual Fund Summit

Demonetisation has impacted and boosted cash inflows into banks. In the last five months, the strong inflow of funds has positively impacted the equity market via investments in mutual fund, catapulting net buying of equity by mutual funds over the 25,000 crore mark. According to data from AMFI, the AUM of the Indian Mutual Fund industry had reached Rs 17.4 trillion mark in January, recording a year-on-year growth of 36.4 per cent.

It is in this context that the 10th Annual ICC Mutual Fund Summit, organized by the Indian Chamber of Commerce, on February 18, 2017 at Kolkata, brought under one roof industry veterans, renowned experts, key officials and thought leaders from across the Indian Mutual Fund domain. Themed “Unearthing the potential for progress,” the event saw high-energy discussions pertaining to strategies for inducing further penetration and growth in the MF industry.

icc-mutual-fund-summit-2017

Mr. Piyoosh Gupta, Chief General Manager, SEBI, the Chief Guest of the event, spoke on the need to boost investment activity in 12-odd states located in the eastern region of the country and on why MF industry should focus more on the B15 cities as against the metros.

10th-icc-mutual-fund-summit-2017

A prime highlight of the summit was a panel discussion on “Conquering barriers through business innovation”. The discussion saw panelists cerebrate upon the relevance of digital engagement as an essential differentiator and a business enabler in current times, and the need to leverage analytics to derive insights into pro-active investor acquisition and engagement. They also cogitated on the need to develop physical and online versions of alternative distribution channels to accelerate Mutual Fund participation. Training and development in the advisory domain pertaining to the country’s wealth management industry were another key topics of discussion.

Special guest and panelist, Mr. N K Prasad – President and CEO, CAMS, highlighted how CAMS – leverages digital technology towards transforming and reinventing the overall investing experience, by implementing consistently pioneering technology innovations for mutual fund investors and distributors such as Investor Mailback statements for portfolio view and funds net for distributors. The discussion panel also comprised

Mr. Milind Barve, MD, HDFC Asset Management Co. Ltd.,

Mr. Sanjay Sapre, President, Franklin Templeton Asset Management (India) Pvt. Ltd.

Mr. Ashutosh Bishnoi, CEO, Mahindra Asset Management Co. Pvt. Ltd.

Mr. Himanshu Vyapak, Deputy CEO, Reliance Nippon Life Asset Management Ltd.

Mr. Hemant Jhajhria, Partner, Financial Services – Strategy & Digital, PwC India

Mr. Arun Laddha, Director, J.R Laddha Financial Services Pvt. Ltd.

Other eminent guests at the event included

Mr. Anil Chopra, Director and CEO, Bajaj Capital Ltd.

Mr. Aniruddha Chaudhuri, Zonal Head – North South and East, ICICI Prudential Asset Management Co. Ltd.

Mr. Ashish Agrawal, Director – JR Laddha Financial Services Pvt. Ltd.

Mr. Deepak Mehta, Sr. VP & Head – SIP, Balanced Products & Retail Banking Channel, UTI Asset Management Co. Ltd.

Mr. Dhirendra Kumar, Founder and CEO, Value Research India Pvt. Ltd.

Mr. Joydeep K. Roy, Partner, Insurance & Allied Businesses, PwC India

Mr. Neeraj Kulsreshtha, COO, BSE Ltd.

Mr. Prashant Vagal, Sr. VP & Head – Business Development & Products, NSDL

Mr. Sanjeev Chakraborty, President ICAA

Mr. Suresh Soni, CEO, DHFL Asset Managers Pvt Ltd.

About CAMS:

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 http://www.camsonline.com.

CAMS officials participate in Birla Sun Life Mutual Fund’s Investment Conclave at Bengaluru

Birla Sun Life Mutual Fund recently organised an exclusive Investment Conclave for Corporate Investors at The Lalit Ashok, Bengaluru. Building upon the success of the previous conclave, held in Mumbai,with the same agenda, the institution brought the event to Bengaluru on January 6, 2017.

Among the prestigious invitees to the exclusive event were top level executives representing Computer Age Management Services, popularly known as CAMS.The Investment Conclave, keeping in tide with the times, was aptly themed “India in the post-demonetisation era”. The occasion saw the coming together of a diverse set of thought leaders and corporate executives, that rendered the evening abuzz with insights on the impact of demonetisation with a special emphasis on the Indian mutual fund industry.

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

Mr. Maneesh Dangi, CO – CIO Fixed Income – Equity, Birla Sun Life Mutual fund

Mr. Bhavdeep Bhatt, Head, Institutional Sales, Birla Sun Life Mutual fund

Mr. V Srinivasan, Senior Vice President – Mutual Fund Operations, CAMS

Mr. Tilak Raj Khanna, Asst. General Manager – Distributor Services, CAMS

Mr. Y S Ramesh Raju, RM-South, CAMS

Mr. Shaji Varghese, Branch Head, Bengaluru, CAMS

Mr. P Sasidhar Raju, Sr.DSE – Distributor Services, CAMS

CAMS GoCORP, a unique solution designed to meet the investment needs of corporate investors, was was discussed in detail at the event with the panel highlghting the,  many advantages of the product.

CAMS GoCORP

GoCORP

GoCORP 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 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

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