Computer Age Management Services (CAMS), a mutual fund registrar and transfer agent, announced on Tuesday that it has teamed up with Google Cloud to create a next-generation platform for mutual funds, alternative investments, and KYC Registration Agency (KRA), thereby revolutionizing the financial services industry.
According to CAMS, the company’s next-generation platform, which it is collaborating on with Google Cloud, is a calculated move to capitalize on the many advantages of cloud-based platforms and cutting-edge technology for the quickly expanding asset management sector.
“The company is gearing for the industry’s growth momentum with a modernised platform that will adopt a distributed, service-oriented, Cloud-native architecture with a modular design to ensure flexibility, scalability, improved time-to-market, and will ensure zero downtime deployments,” Anuj Kumar, managing director of CAMS, said in a statement.
The core themes adopted for the platform are design based on first principles, modularity and reusability with a rich service ecosystem.
According to the mutual fund transfer agency, artificial intelligence and automation will be incorporated into the platform at every level enabling automated, event-driven transaction processing that is more accurate and efficient.
According to Bikram Singh Bedi, VP and Country MD at Google Cloud India, “Our partnership with CAMS is enabling them to digitally transform and re-architect their mutual fund processing and record-keeping platform, thereby ensuring easy and safe transactions for their investors across the country.”
Through tight collaboration, CAMS and Google Cloud have introduced several firsts for the Indian market, including improved security and digital sovereignty.
