CAMSfinserv to revolutionise the Indian Financial landscape with mutual fund integration

In a groundbreaking move, CAMSfinserv, a licensed Account Aggregator (AA) by the RBI, has successfully incorporated all seventeen Asset Management Companies (AMCs) served by CAMS as Financial Information Providers (FIPs) on its AA platform. This achievement positions CAMSfinserv as the pioneer in offering access to mutual fund data within the AA framework in India. This integration is set to redefine financial experiences for customers by enabling them to effortlessly access and share mutual fund holdings and bank account transactions via a secure platform.

This transformative step is expected to enhance the Asset Management Companies’ ability to attract and retain customers through simplified data access and management. The move will streamline risk management, ensure compliance, and offer personalized financial solutions.

CAMSfinserv’s subsidiaries, Sterling Software and complement the endeavour by providing Technology Service Provider (TSP) and Data Analytics services. These offerings further bolster innovative, secure, and efficient digital data solutions in the Indian financial space.

Computer Age Management Services Limited is a mutual funds transfer agency. It provides investor services, distributor services and asset management companies (AMC) services.

Computer Age Management Services Limited has announced its financial results for the first quarter ending on June 30, 2023 (Q1FY24). During this period, the company generated revenue of Rs 261.30 crore, reflecting a growth of 10.42% compared to the previous year. The operational profit for Q1FY24 was Rs 119.73 crore, marking a significant increase of 17.03% year-on-year. Additionally, the company’s net profit after tax (PAT) also demonstrated strong growth, reaching Rs 75.68 crore, an increase of 17.14%.

Today, the stock opened at Rs 2530.05, with a high and low of Rs 2543.05 and Rs 2469.65. The stock closed trading at Rs 2500.80, down by 1.42%. The stock has a 52-week high of Rs 2689 and a 52-week low of Rs 2,002.10.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.