KFin Technologies, a global leader in Fund Administration solutions, has signed a multi-year Investment Management Solution contract with LIC Pension Fund.
LIC PFL, operating under the aegis of the Pension Fund Regulatory and Development Authority, has chosen KFin tech to design, create, and administer the investment management solution to provide enhanced customer service, security, compliance, and to be future-ready for the scale LICPFL anticipates achieving. LIC PFL initiated a Request for Proposal (RFP) process in 2023, seeking a comprehensive end-to-end IMS solution.
KFintech’s ‘mPower’ serves nearly 70 per cent of the Assets Under Management across various pension funds. KFintech has a track record of serving over 48 clients globally.
Raghupal Singh, Managing Director, LIC Pension Fund said migration to modern technology platform with added advantage of providing better investment management efficiencies and investment yields will empower fund managers to have dynamic control on all operations. The new system will be fully integrated to external market operators, stock exchange, rating agencies and regulator, he said.
Sreekanth Nadella, Managing Director, Kfintech said ‘mPower’ represents the company’s commitment to integrate deep domain expertise with technological innovation to make fund administration an easier entity to navigate.
Set up in 2008, LIC Pension Fund is second largest Pension Fund Manager with AUM of ₹2.86 lakh crore under NPS.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.