MFCentral is a collaborative effort of KFintech and CAMS, the Mutual Fund Registrar & Transfer Agents in association with AMFI. MFCentral offers digital access to investor with the entire MF industry under one roof. MFC doesn’t need you to open a new account. By entering your Permanent Account Number and mobile number, you can fetch all your investments – made across Statement of Account format and demat – in a consolidated list.
MFC will be launched in three phases. Phase 1 has been launched. It will allow you to make non-financial transactions on its website, in addition to providing a single view of your portfolio, CAS and unclaimed dividends.
In Phase 2, it will launch a mobile app. You could then do the same things via the app. Phase 3 will allow you to buy and sell MF units. In later phases, it will also allow your distributors to log in and execute your transactions, on your behalf.
“The platform will bring about simplification in mutual funds services and reduce turnaround times, while providing safe access. Leveraging the power of digital, MFCentral provides a unified gateway for friction-less services across all mutual funds,” said Anuj Kumar, Managing Director, CAMS.
In addition to a single portfolio view, the platform offers investors the added convenience of generating reports on unclaimed payments and raising service requests for non-commercial transactions (Digital and Scan based), such as nominee change and address update
“At the heart of the platform lie four fundamental objectives – 1. Step change in ease of doing business for Investors, Intermediaries and AMCs 2. Lay foundation for a secure, resilient and hyperscale processing infrastructure to meet exponential growth expected in the MF industry 3. Construct an Info superhighway to provide best in class analytics to the Regulator, AMCs and ecosystem partners and 4. Rationalize redundancy in industry’s efforts and costs,” Sreekanth Nadella, CEO, KFintech, said.