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KFin Technologies Private Limited (“KFin Technologies") on Wednesday announced the launch of INSTA Brokerage plan that will instantly release distributor commissions. “With this innovation, distributors will be able to encash their commissions almost instantly when the unit allocations are completed post the settlements," the company said in its statement.
Commenting on the launch, Sathish Nuggu, Chief of Technology & Operations (CTOO), KFin Technologies, said “We are pleased to launch INSTA Brokerage – an idea that will herald a new era of Ease of Doing Business (EODB) for distributors. The response to the initiative had been very encouraging with our AMC clients in various stages of rolling out shortly. KFintech manages mutual fund operations for 27, out of which 2 are yet to start operations, out of 44 AMCs."
KFin provides Software-as-a-Service (SaaS) based end-to-end transaction management, channel management, compliance solutions, data analytics and various other digital services to asset managers across segments as well as outsourcing services for global players.
“MF Distributors are the backbone of this industry and equipping them with every solution that makes a difference to them is a critical covenant of KFintech’s value system. This (INSTA Brokerage) solution provides mutual fund distributors with expedited receipt of the commissions thus enabling them to focus on better investor acquisition and engagement," Nuggu said.
The company said UTI Asset Management Company had led the way in rolling out the feature.
“The Distributor fraternity are at the core of our business and we at UTI, have always believed in the spirit of being a true partner to them. UTI AMC, one of the country’s pioneering AMCs has rolled out this initiative for its distributors and it found instant success measured by high adoption rates. Over the last few years, along with KFintech we have been investing in building capacity and computing capabilities by adopting latest technologies to bring in services which are near real time for our investors and partners," said Vinay Lakhotia, Head - Operations, UTI AMC.
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