MF Utility has bagged ‘The Annual Globe Tigers 2016 Award’ for the best industry infrastructure initiative in the financial services category, said a press release issued by the company. The company has been awarded for bringing innovation in the financial services industry.
The Golden Globe Tigers Award aims to recognize "TIGERS" in marketing, branding CSR & social innovation, education & academic across leadership levels in individual and organization. The award event was held at Kuala Lumpur, Malaysia on April 11.
Launched in January 2015, MF Utilities is an initiative by AMFI to aggregate transactions in the mutual fund industry in order to bring in scalability and remove duplication of activities. It enables distributors and direct investors to open a single account called CAN to invest in multiple schemes.
So far, more than 34,000 CANs have been opened by the investors. The company claims that over 1,000 distributors are using MF Utilities to execute transactions.
