CAMS Joins Google Cloud To Build Next-Gen Platform For Mutual Funds

CAMS Joins Google Cloud To Build Next-Gen Platform For Mutual Funds

The company is gearing up for the industry's growth momentum with a modernised platform that will adopt a distributed, service-oriented, cloud-native architecture with a modular design.

IANSUpdated: Tuesday, July 02, 2024, 01:50 PM IST
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The registrar and transfer agent of mutual funds, Computer Age Management Services (CAMS), said on Tuesday that it partnered with Google Cloud to revolutionise the financial services landscape by building a next-generation platform for mutual funds, alternative investments, and the KYC Registration Agency (KRA).

Next-gen platform

The next-generation platform envisaged with Google Cloud is a strategic step for the company to leverage the multiple benefits of cloud-based platforms and emerging technologies for the rapidly growing asset management industry, said CAMS.

"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 zero downtime deployments," Anuj Kumar, MD at CAMS, said in a statement.

New platform features

The core themes adopted for the platform are design based on first principles, modularity, and reusability with a rich service ecosystem. AI and automation will be integrated at every stage of the platform for automated, event-driven transaction processing with increased efficiency and accuracy, the mutual fund transfer agency said.

"Our collaboration 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," said Bikram Singh Bedi, VP and Country MD at Google Cloud India.

CAMS and Google Cloud have engaged closely to bring in several unprecedented functionalities for the Indian market in the areas of digital sovereignty and enhanced security measures.

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