CAMS launches digiSIP to start SIP in 7 days

~Investors and distributors to benefit from digital convenience, speed and ease to commence new SIPs~

New Delhi, April 25, 2018: Computer Age Management Services (CAMS), India’s leading Registrar and Transfer Agent for Mutual Funds, has announced the launch of digiSIP, an industry-leading initiative for setting up Mutual Fund SIPs in CAMS website. digiSIP is designed as a paperless and accelerated process to bring speed, ease and convenience to distributors and investors. SIP set-up via digiSIP can be commenced in just 7 business days, significantly reducing the current lead time of 30 days.

digiSIP innovatively uses the power of prefilled forms in combination with electronic payment options such as debit mandate or net banking. The application provides seamless setting up of payment with e-mandate with e-sign facility.

CAMS digiSIP is designed to bring a change to the conventional process and transform the way SIP is currently initiated, processed, confirmed and commenced.

Benefits of CAMS digiSIP to Investors, & Distributors • Paperless process using prefilled form, click based entry and e mandate • Start SIP in 7 business days • Distributors can leverage the digital edge and avoid handling large volumes of paper forms • Designed for both existing and new investors

Speaking on the launch of digiSIP, Anuj Kumar, Deputy CEO, CAMS explained, “digiSIP is an outcome of CAMS’s deep understanding of investor and distributor pain points and adapting emerging technology and improved processes to transform the SIP setting up experience. digiSIP will bring the unique benefit to start the SIP in just seven business days. The solution will make the most of digital processes and leverage pre-existing data to reduce the set up time and effort.”

digiSIP has been custom built for distributors and investors. Distributors can conveniently set-up new SIP for their clients in just four steps with OTP based confirmations from investors. Existing investors in any of CAMS serviced Funds can use the pre-filled date and complete SIP set-up in a few clicks while new investors can complete Aadhaar based eKYC and start an SIP seamlessly. e Mandate option has been enabled in collaboration with NSDL for e Sign and NPCI for mandate registration in investor’s bank.

The preference of SIP route to make investments in Mutual Funds has gained significant momentum in the last couple of years, leading to CAMS processing over seven lakh new SIPs each month across Mutual Funds.

About CAMS:

CAMS is a SEBI regulated entity since 1993 to provide Registrar & Transfer Agency services to Mutual Funds. Headquartered in Chennai, CAMS is co-owned by three shareholders – NSESIC, NSE Strategic Investment Corporation Limited, a subsidiary of National Stock Exchange, HDFC Group (a financial services conglomerate) and Acsys (the founding promoter). Besides Mutual Funds, CAMS Group provides technology enabled services to Alternative Investment Funds, Banks, NBFCs and Insurance Companies and KYC services.