Computer Age Management Services Ltd (CAMS) joined forces with Google Cloud in a significant move. Together, they’re building a next-generation platform to revolutionize the asset management industry in India. This cutting-edge platform will offer a wide range of business services to modernize the current system.
The development process is expected to take five years, with different platform parts being rolled out gradually.
Commenting on the development, CAMS Managing Director Anuj Kumar 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 per cent 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 modernised platform that will adopt a distributed, service-oriented cloud native architecture.”
“We are excited to traverse this modernisation agenda with Google Cloud who amply demonstrated their domain expertise and brought to the table a robust solution that is best-in breed and compliment to the laws and regulatory standards,” Kumar added.
