InvestorQ : What is the new MFC platform? How is it helpful for Mutual Fund investors?
Arya Nanda made post

What is the new MFC platform? How is it helpful for Mutual Fund investors?

Deepa Salunkhe answered.
11 months ago
Computer Age Management Services (Cams) and KFin Technologies recently announced the launch of a new platform for Mutual Fund investors called MFCentral. The platform aims to work as a digital solution for enhancing service experience and transaction efficiency for Mutual Fund investors.

The launch of MFCentral streamlines everything related to the Mutual Fund industry under one digital platform. Mutual Fund investors do not have to create a new account on MFC but can access their current investments by entering their PAN and mobile number.

The MFC platform is a three-phased plan where the first phase has been launched. It allows Mutual Fund investors to view their portfolio, CAS, and unclaimed dividends along with making non-financial transactions. Phase 2 will include the launch of the MFC mobile application to promote ease of access and reduce turnaround time. The details of Phase 3 are yet to be announced.

According to KFintech CEO, Sreekanth Nadella, at its core, the MFC platform aims to fulfill these four fundamental objectives:

  • Steep change in ease of doing business for Investors, Intermediaries, and AMCs.
  • Lay foundation for a secure, resilient, and hyper-scale processing infrastructure to meet exponential growth expected in the MF industry.
  • Construct an information superhighway to provide best-in-class analytics to the Regulator, AMCs, and ecosystem partners.
  • Rationalize redundancy in the industry‚Äôs efforts and costs.