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CAMSfinserv, one of the first RBI licensed Account Aggregators (AA) in India, has onboarded all 17 Asset Management Companies serviced by CAMS as financial information providers on the AA platform, making it the first in the industry to provide access to mutual fund data.
Customers will be able to access and share both their mutual fund holdings and bank account transactions from a single and secure platform, track their investments, identify areas where they can save and make better financial decisions.
This will help Asset Management Companies to attract and retain customers by simplifying the access and management of their financial data, improve risk management, ensure compliance, personalise financial offerings and improve or innovate existing operational processes.
Anuj Kumar, Managing Director, CAMS said this is a seminal event in the development of the AA ecosystem given its potential to uplift the financial experience of the 2.7 crore MF customers.
Onboarding mutual funds will enable faster and easier loan approvals, updated single view of customer asset information, and better investment recommendations by wealth management platforms, he added.
CAMSfinserv is leading Account Aggregator with 54 entities including banks, MFs, insurers, depositories and GSTN live on its platform as Financial Information Providers.
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