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In a recent development, RTAs CAMS and KFintech announced that the investment platform MF Central will now become a stand-alone entity. The new entity will be a joint venture between both RTAs and will have a separate board and chairman.
MF Central is an investment platform that enables investors to invest across fund houses through a single platform. It also allows MFDs and RIAs to manage investment of their clients.
The new entity aims to focus on all developmental aspects of MF Central for technology, sales and marketing and will further improve the mutual fund investment process for investors and expand the facilities of intermediary service. The new entity will also have a One-Time Mandate (OTM), which will allow auto debit for recurring payments like SIPs.
Anuj Kumar, MD, CAMS said, “The setting up of a stand-alone entity will help operationalize and fulfil the objective of investor convenience and staying fully aligned to the regulatory intent of SEBI, while exploring monetization opportunities to further enhance the platform’s unique offerings for the future. This stand-alone entity will significantly accelerate industry’s digital transformation, by leveraging cutting- edge technology and API integration to drive innovation, efficiency, inclusivity and accessibility.”
Sreekanth Nadella, MD & CEO, KFinTech said, “The new entity, led by an independent board and management will aim to create the country’s best super app ecosystem for mutual funds industry with tech first hyper scale and highly secure solutions. By combining our technological expertise and deep market understanding, we aim to empower the manufacturers, investors and intermediaries with seamless, integrated solutions that are future ready. This initiative will enable more personalized investment experiences and reinforce our commitment to advancing India's financial services ecosystem.”
