Computer Age Management Services Limited (CAMS), technology-driven financial infrastructure and services provider for mutual funds, alternative investment funds (AIF) and portfolio managers (PMS) announced the acquisition of a majority stake in Fintuple Technologies Private Limited (Fintuple), a fintech offering platform and API solutions for AIFs, Portfolio managers, Custodians and Distributors.
Founded in 2018, Fintuple is a new age startup which has launched niche technology offerings in the areas of client digital on-boarding, KYC, Fund Data, Fact sheets and Analysis and other digital support solutions for AIF and PMS. In a short time-span, Fintuple has added marquee AIF brands and Banks to its client roster and is set to expand its footprint as the gateway connecting the digitally savvy consumers to digitally enabled manufacturers and providers, via APIs, the company said in a statement.
Commenting on the acquisition, Anuj Kumar, Managing Director - CAMS, said, “We expect the AIF and PMS markets to grow at a CAGR of more than 20 percent over the next decade, and hence found investing into Fintuple as a great opportunity that will assist CAMS and Fintuple in building overall market reach and driving innovation. The Fintuple solution suite will enhance our capability to meet the bespoke requirements of our clients with ease and speed. The acquisition will further drive CAMS’s vision of providing technologically superior products in the BFSI space, specifically to the rapidly growing AIF and PMS segment.”
Kaushik Narayan, Co-Founder - Fintuple, added “Alongside the growth potential, the AIF and PMS segment is also poised for technology led transformation. The synergy between CAMS and Fintuple’s solutions can be leveraged to solve industry problems and partner with clients to build unique, friction-less experiences for their customers.”
Fintuple’s product offerings seeks to address challenges in an investor’s journey starting with the onboarding process arising from siloed systems, lack of exchange of data among the ecosystem players in AIF / PMS space and redundancy in account opening process across institutions. The investment fortifies CAMS’s position as the leading provider of technology solutions in this market and further strengthens its product offerings especially for Digital On-boarding and eKYC, the statement added.