Chennai : Computer Age Management Services Limited (CAMS), India’s largest registrar and transfer agent of mutual funds (a SEBI regulated entity), has announced that its mutual fund app myCAMS, a unified portal servicing investors across CAMS serviced mutual funds, has successfully completed 10 years. Within just one year, the market-leading platform myCAMS has welcomed 1 million new registered investors, bringing its total registered user base to 6.5 million.
myCAMS ranks among the top three apps in the mutual fund industry, managing assets under management (AuM) of Rs. 30,000 crore. Despite a decade in operation and amidst numerous other fintech apps in the market, myCAMS continues to attract over 2000 registrations daily and facilitates gross sales of Rs. 4,500 crore annually.
Throughout its 10-year journey, myCAMS has achieved remarkable milestones:
- A staggering 12,000 downloads in a single day.
- Logging in sessions totaling 11.5 million in a month.
- Exceptional gross sales of Rs. 2500 Crore in a single month during the Covid pandemic.
- Received numerous awards and recognitions, including being named the Best Finance app.
During the early days of mobile apps and digital platforms, myCAMS pioneered several innovative features. It provided investors with the unique capability to instantly view their mutual fund portfolio in an aggregated format and introduced folio opening with Aadhar-based eKYC. Additionally, myCAMS launched transaction facilities across mutual funds serviced by CAMS, quickly becoming the app’s unique selling proposition (USP).
Over time, the app underwent a revamp, incorporating intuitive flow and data reuse, which significantly increased its usage. Several industry-first features, such as various portfolio dimensions, redemption guides, scheduled future transactions, digiSIP, e-mandates, digi NFO, voice orders, one-click SIP renewals, and CAMSPay’s multiple payment options, were introduced to enrich the user experience. The app also facilitated transactions for Non-Resident Indians (NRIs) and was the first mutual fund mobile app to integrate CAMSfinserv Account Aggregator.
Mr. Anuj Kumar, Managing Director of CAMS, remarked, “The myCAMS app was launched in 2014 when digital platforms and mobile apps were in their infancy in India. CAMS, as a pioneer in leveraging technology and digitization, introduced the convenience of an aggregated view of the mutual fund portfolio through myCAMS. With the increasing adoption of digital platforms, the app quickly gained popularity among mutual fund retail investors for its convenience and user-friendliness. Currently serving 19 million folios and managing assets worth Rs. 7.5 lakh crore across 6.5 million registered users, the app boasts a high engagement index for transactions and portfolio review. We are delighted to witness the phenomenal growth of myCAMS as a leading app in the industry over the past 10 years and take pride in our commitment to enhancing investor experience through innovation and technology.”
myCAMS revolutionizes mutual fund investment management with digital convenience. It provides a unified view of portfolios across 19 Mutual Funds, enabling transactions such as purchases, redemptions, and switches. Additionally, users can open new folios, subscribe to New Fund Offers (NFOs), and manage Systematic Investment Plans (SIPs) effortlessly.