CAMS collaborates with Google Cloud to build Cloud-Native platform to Transform its Asset Management Business Services

Computer Age Management Services Limited (CAMS), India's largest registrar and transfer agent of mutual funds (a SEBI regulated entity), and Google Cloud have come together to revolutionize the financial services landscape by building a next-generation platform for the various business services provided by CAMS.

CAMS's platform has been integral to the asset management industry of India for nearly 3 decades, supporting the industry's growth for new product launches, market expansion, strengthened intermediation, regulatory compliance and differentiated investor services. The next generation platform, envisaged with Google Cloud, is a strategic step of the company to leverage the multiple benefits of cloud-based platforms (and emerging technologies) for the rapidly growing asset management industry and to serve the new generation, digital native investors.

The key building blocks of the platform will be design based on first principles, modularity and reusability with a rich services ecosystem, AI/ML powered digital products and data platform. AI and Automation will be integrated at every stage of the platform for automated, event-driven transaction processing with increased efficiency and accuracy. 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. Google boasts of a cutting-edge global work-force operating in its India delivery centres, and a section of this talent will be deployed on this program.

Commenting on the initiative, Anuj Kumar, Managing Director at CAMS, said, "Our technology platform has been the financial infrastructure for the Indian Mutual Fund industry, serving investors and the complex ecosystem diligently, while scaling up to build a market-share of about 68% in this arena. While the current platform continues to stand the test of time, the company is gearing-up for the industry's growth momentum with a modernized platform that will adopt a distributed, service-oriented, cloud-native architecture with a modular design to ensure flexibility, scalability & improved time-tomarket, and will ensure zero-downtime deployments. We are excited to traverse this modernization agenda with Google Cloud who amply demonstrated their domain expertise and brought to the table a robust solution that is best-in-breed and compliant to the laws and regulatory standards."

Bikram Singh Bedi, Vice President and Country MD at Google Cloud India added, "The Indian mutual fund industry has experienced remarkable growth and transformation over the past decade, emerging as a preferred investment avenue for both retail and institutional investors. 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. We are delighted to be their partner of choice in this journey."

The platform will be designed and developed over a five-year period with specific modules going live in phases. The incremental spend across the period will be met from internal accruals and is not expected to impact margins materially during the implementation phase.

Shares of Computer Age Management Services Limited was last trading in BSE at Rs. 3612.55 as compared to the previous close of Rs. 3553.45. The total number of shares traded during the day was 18899 in over 3863 trades.

The stock hit an intraday high of Rs. 3659.00 and intraday low of 3550.65. The net turnover during the day was Rs. 68228812.00.

Source : Equity Bulls

Keywords

ComputerAgeManagementServices INE596I01012 CAMS GoogleCloud