Computer Age Management Services Limited (CAMS), India’s registrar of mutual funds, will join Google Cloud to revolutionize the financial services landscape by building a next-generation platform for CAMS’s various business services.
CAMS’s next-generation platform, developed in partnership with Google Cloud, represents a strategic move for the company to take advantage of the numerous benefits of cloud-based platforms and emerging technologies for the rapidly growing asset management industry.
The platform will be designed based on first principles, modularity, and reusability with a rich services ecosystem, AI/ML-powered digital products, and data platform.
Commenting on the initiative, Anuj Kumar, Managing Director at CAMS, said, “While the current platform continues to stand the test of time, the company is gearing up for the industry’s growth momentum with a modernized platform that will adopt a distributed, service-oriented, cloud-native architecture with a modular design to ensure flexibility, scalability & improved time-to-market, and will ensure zero-downtime deployments”.
“We are excited to traverse this modernization agenda with Google Cloud, which has amply demonstrated its domain expertise and brought to the table a robust solution that is best-in-breed and compliant with the laws and regulatory standards, he added.
Bikram Singh Bedi, Vice President and Country MD at Google Cloud India added, “Our collaboration with CAMS is enabling them to digitally transform and re-architect their mutual fund processing and record-keeping platform, thereby ensuring easy and safe transactions for their investors across the country. We are delighted to be their partner of choice in this journey.”
The platform will be designed and developed over five years, with specific modules going live in phases.
Also Read: BlackRock set to acquire Preqin, for $3.2 billion in cash
