Computer Age Management Services Limited (CAMS), India’s registrar and transfer agent of mutual funds and the leading platform and services partner for Alternatives on Monday through an exchange filing announced that CAMS WealthServ has signed on 75 Alternative Investment Funds (AIF) & Portfolio Management Services (PMS) enterprises since its launch last year to provide smooth digital experience for High Net-worth customers.
CAMS WealthServ is an intuitive digital interface that enables the ‘first-time-right’ investor application process. The platform is designed to ease and expedite onboarding of HNI clientele. Opening accounts for AIF and PMS investors and executing transactions are typically time intensive and iterative processes, often extending to several days. With WealthServ, the on-boarding process to account activation is done within a few hours.
The platform comprehensively supports all ecosystem connects and is compatible with multiple downstream platforms. It supports onboarding of a wide range of investors covering individuals, nonindividuals, NRIs and accredited investors. WealthServ offers an array of robust user validation methods including user liveness check, PAN authentication, document verification and bank account validation in real time using AI capabilities built into the platform.
WealthServ also has additional features like custodian module for custodians to access the documents, configurable reviewer flow to verify the details, eNach to register mandates and stagewise e-sign flow. Additionally, it is integrated with payment gateway, providing multiple payment modes including cash and securities to facilitate STP, partial STP and lump-sum transactions. The entire flow is seamless, eliminating the friction between the processes while assuring quality.
Mr. Anuj Kumar, Managing Director, CAMS Limited said, “AIF industry has grown exponentially and is expected to continue the growth momentum due to superior returns and declining attractiveness of hard assets. With an enabling regulatory framework, the industry is expected to grow at a CAGR of 25% over the next 5 years. As the leading platform and services partner to this segment, we are constantly looking to deliver technology-led transformation to ease both customer experience and business processes.
Over 75 enterprises including some very large AIFs have readily adopted this new capability considering the immense benefits and ease of onboarding with the digital option WealthServ when compared to the traditional, paper intensive ways of serving High Net-Worth clients. We are excited and encouraged with the market’s response and the momentum with over 20% of new investors being onboarded digitally while we are preparing to release WealthServ 2.0 with augmented features & capabilities.”
With CAMS WealthServ, the entire onboarding process for AIF and PMS funds has been made 100% digital with online generation of POA and agreements, stamp paper affixation with support for multiple states and support for multiple modes of e-signs like Aadhaar OTP based and DSC based e-sign.
Relationship managers and sales teams can customize the WealthServ dashboard to get a comprehensive view of investor information.
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