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.

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