Mutual Funds enter Account Aggregator arena with CAMSfinserv

CAMS finserv, one of the RBI licensed Account Aggregators (AA), has onboarded 17 Asset Management Companies serviced by CAMS as Financial Information Providers on the account aggregators platform, the company said on Tuesday.

The integration of Mutual Funds with the CAMSfinserv platform would play a significant role in the development of Account Aggregators framework in India.

Customers would be able to access and share both their mutual fund holdings and bank account transactions from a single and secure platform and make better financial decisions in a hassle-free way.

''This will help Asset Management Companies to attract and retail customers by simplifying the access and management of their financial data, improve risk management, ensure compliance, personalise financial offerings..,'' a company statement here said.

''We are extremely excited with ushering the Asset Management industry into Account Aggregator space with the onboarding of all 17 Mutual Funds served by CAMS on the CAMSfinserv AA platform'' CAMS Managing Director Anuj Kumar said.

''This is a seminal event in the development of the AA ecosystem in India, given its potential to uplift the financial experience of the 2.7 crore MF customers we serve,'' he added.