Computer Age Management Services (CAMS) is a Mutual Fund Transfer Agency to the Indian Asset Management Companies with a share of 61% of the assets under management (AuM). The company was incorporated in year 1988. CAMS is an institutionally owned company with three shareholders - NSE Strategic Investment Corporation â€" subsidiary of National Stock Exchange Ltd., HDFC Bank group and Acsys.
History
CAMS was founded in early 1988 by V Shankar as a start-up in the area of Software Development and Computer Education. This was a promising venture, and for a period of 3â€"4 years in the early 90s, it was one of the establishments in Chennai, similar to NIIT in the education domain.
During Y2K, CAMS decided that the domestic financial services was the area on focus, and the area of operation in managed services among the IT services.
The Indian Financial Services went through a renaissance in the period 1997/8-2006/7, with changes in regulation, products and supporting infrastructure. Financial businesses, always early adopters, started taking advantage of technology and networking to facilitate their business, and CAMS pivoted into what are now known as Platform based services to the Indian Financial industry. In 2013 the HDFC Group invested into CAMS, facilitating in its chosen businesses. In 2007 the company accepted a PE investor to further facilitate help in its operations. In early 2014 India’s Stock Exchange, the NSE, took a position in the Company.
CAMS started off with a team of 20 personnel and started to process Transfer Agency operations during the early nineties. CAMS had handled IPOs like IPCA Laboratories, Wockhardt Ltd, NCD issues of RPPL, RPEL, Crossland Research Labs Ltd etc. CAMS was also known for processing the first ever allotment of Cars for Ford Escort Model, launched during 1996 by Ford India Pvt Ltd.
With the advent of close-ended Mutual Funds, CAMS was involved in processing of Indian Bank Mutual Fund and later started to handle the operations of Alliance Capital Mutual Fund. This was the first Open Ended Mutual Fund of CAMS. CAMS also handled the oldest of Indian Mutual Funds like JM Mutual Fund, ITC Threadneedle, Zurich India Mutual Fund, Sun & FC Mutual Fund, Dundee Mutual Fund, Taurus Mutual Fund etc.
As of May 2016, CAMS employs over 4800 staff and offers services to the Mutual Fund, Insurance and Banking industries through its network of 314 locations all over India.
Services Offered
Services to Mutual Funds using ERP kind of IT platform
- Transaction acceptance and processing
- Redemption and payout settlement and entire reconciliations
- Record Keeping
- Customer Service through pan India service centers, call center, web
- White Label Call Center
- Analytics
- Brokerage computation and Payouts
- Dividend issuance, dispatch and reconciliations
- Business Continuity services
- Distributors help desk and end to end servicing of all distributor queries
- Document management and printing solutions
- Cams has launched My CAMS Services for Online Transactions..
Services for Private Equity & Venture Funds
- Pre-Sales
- Investor on-boarding services
- MIS and reporting
- Corporate action and Tax Support
- Life cycle Management
- Intermediaries Revenue Management
- Notices and collection management
- Services for Banks and Non-banking Finance Companies
- Account Opening and Account Management
- Customer Service
- Instrument processing, reconciliation and Accounting
- Help desk to support branch / vendor and DSAs
- Document management and printing solutions
Operations
As of September 2014, CAMS has all India presence with around 314 Customer Service Centers (CSCs) and all these branches are linked on a real time.
These CSCs normally provide services to Mutual Fund, Insurance, Private Equity, KRA and NPS processes. In these CSCs, the customers have an option to enquire about their investments, obtain statement of accounts, seek portfolio valuations, buy, sell, switch mutual fund units, notify changes in their account details, register and submit KRA applications.
CAMS has enabled self-servicing through the investor and distributor services webpages on its website.
Subsidiaries
CAMSRep - CAMS Repository Services Ltd ("CAMSRep") â€" is licensed by IRDA to provide insurance repository services such as:
- eInsurance Account creation
- Conversion of New & Existing policies to e policies
- Policy holder services
- Account Maintenance
Outsourced Services to Private Insurance Companies
Marketing & Distribution including
- Agency Appointment
- Application Scrutiny and Processing along with Training Coordination
- Agent On boarding
Branch Operations / Restructuring
- Outsourced Branch Back Office Operations (including Implants)
- Facility Management
- Branch in Box
- Collection Centers
New Business & Underwriting
- Submission of Proposals, Scanning, Indexing & Data Entry
- Requirement raising
- Issuance of Policy document
- Receipting, Premium collection & banking
- ECS Management
Policy Administration & Policy Servicing
- Receiving and Processing requests without accessing original database
- Both Financial and non-financial transactions
Persistency
- Reminders for Premium Payment, Premium Collection
- Cheque pick-up & banking, Receipting & Payout Processing
- Customer and Agent related payments and ECS Management
CAMS KRA
CAMS Investor Services Pvt Ltd ("CAMS KRA") is a SEBI registered KYC Registration Agency (KRA) providing KYC registration services and maintains KYC records of the investors centrally, on behalf of capital market intermediaries registered with SEBI, eliminating the need to repeat KYC. The details of services offered are:
CAMS KRA Online Services for Clients
- KYC Status Enquiry
- Forms download
- Customer Services
CAMS KRA Online services for Intermediaries
- Verify availability of PAN in CAMS KRA or other KRAs (Inter-operability)
- Upload of New KYC data
- Enter data for New KYC applicant
- Scan and upload KYC documents
- KYC document dispatch tracking
- Integration with other KRAs for seamless data exchange on KYC
- Download clients’ data maintained by CAMS KRA
- View of clients’ data maintained by CAMS KRA
- Upload/ Download of KYC data changes
Sterling Software Pvt Ltd is subsidiary software solution provider of CAMS for Mutual Fund industries globally. Sterling supports all its service users like the Mutual Fund House, the Distributor and the Investor.
Sterling serves the requirements of Mutual Funds, Asset Management Companies, Fund Distributors and intermediaries. All its products are designed and customized using Client Server Architecture for Oracle Databases with Microsoft .Net and other Internet enabled front ends.
Memberships, Associations, Accreditations
CAMS is the founding member of Registrars Association of India (RAIN) which was founded in the year 1991. RAIN is a representative body of Registrars and Share Transfer Agents in India.
CAMS is a member of The National Association of Software and Services Companies of the USA. CAMS is an ISO 9001 â€" 2008, ISO 27001 compliant organization as well as being compliant to SOC 1 & 2 (UTC)standards Service Organization Controls Service Organization Controls