CAMS and KFintech announced the creation of a joint venture to operate MF Central as a standalone entity. This new entity will oversee technology, sales, and marketing for MF Central, enhancing mutual fund services for investors and intermediaries.

MF Central, launched in 2021 following Securities Exchange Board of India’s (SEBI’s) directive, provides a unified platform for investors to manage mutual fund transactions across various fund houses. The platform initially launched non-financial services, followed by financial transactions and a mobile app in 2023.

With over 2.5 million users, MF Central now aims to further support investors with a comprehensive suite of digital services.

The joint venture will also retain ownership of MF Central’s intellectual property, and both CAMS and KFintech will hold equal shares in the new company.

The platform’s APIs, used by mutual fund distributors and RIAs for consolidated account statements, have seen strong adoption.

MF Central’s transactional APIs will streamline mutual fund-related services and integrate new features like loans against mutual funds and a standardised pledging process across AMCs.

CAMS MD Anuj Kumar highlighted MF Central’s role in simplifying mutual fund investing and aligning with SEBI’s regulatory goals.

KFintech CEO Sreekanth Nadella emphasised the platform’s contribution to India’s digital financial landscape and its role in supporting fintech innovations.

This joint entity aims to enhance the digital experience for investors and foster financial inclusion across India’s mutual fund industry.