Computer Age Management Services (CAMS) said that it has acquired a majority stake in Fintuple Technologies, a fintech start-up offering platform and API solutions for AIFs, PMSs, custodians and distributors.
Founded in 2018, Fintuple is a new age start-up which has launched niche technology offerings in the areas of client digital on-boarding, eKYC, fund reports, and other support digital solutions for alternative investment funds (AIF) and portfolio managers (PMS).
In a short span, Fintuple has added marquee AIF brands and Banks to its client roster and is set to expand its footprint as the gateway connecting the digitally savvy consumers to digitally enabled manufacturers and providers, via APIs.
As the market-leading service partner to the AIF and PMS segment, CAMS platform serves over 120 clients across all facets of the operations of investor servicing, fund accounting, digital and value-added services.
While the AIF and PMS segment is splintered with several service providers, CAMS's specialisation and continued enrichment to the service stack through digital enhancements have helped secure a leading market share in the domestic AIF and PMS industry. With the addition of Fintuple Technologies portfolio of offerings, CAMS is geared towards further strengthening its value proposition for AIF and PMS.
Anuj Kumar, managing director - CAMS, said, We expect the AIF and PMS markets to grow at a CAGR of more than 15% over the next decade, and hence found investing into Fintuple as a great opportunity that will assist CAMS and Fintuple in the overall market reach and revenue diversification.
The Fintuple solution suite will ensure clients who have more bespoke needs to be serviced with ease and speed. The acquisition will further drive CAMS's vision of providing technologically superior products in the BFSI space, specifically the rapidly growing AIF and PMS segment.
Computer Age Management Services (CAMS) is a technology-driven financial infrastructure and services provider to mutual funds and other financial institutions with over two decades of experience.
The company's consolidated net profit rose 37.03% to Rs 77.31 crore on a 27.84% increase in sales to Rs 237.71 crore in Q3 FY22 over Q3 FY21.
The scrip shed 0.96% to currently trade at Rs 2397.50 on the BSE.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU