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CAMS – Features, Services & Registration Process

cams

What is CAMS?

Computer Age Management Service (CAMS) is a Mutual Fund Transfer Agency. It provides technology-enabled services to Mutual Fund industry, investors, Private Equity, etc.

The following are a few examples:
  • KYC verification & validation
  • System integration with bank
  • Online transaction through MYCAMS app
  • Redemption & payout settlements

Computer Age Management Service (CAMS) was founded in the year 1988. Currently, it has a presence across all India with around 200+ Customer Service Centres.

What does CAMS do?

Computer Age Management Services is co-owned by NSE Investment Limited, HDFC Group, Warburg Pincus LLC and Acsys Investment Private Limited.

The following are a few services which it provides:
  • KYC verification & validation
  • System integration with bank
  • Online transaction through MYCAMS app
  • Redemption & payout settlements
  • Customer service and cimplaint redressal
  • Record Management Services
  • White label Call center
  • Brokerage computation & payout
  • Data management
  • Processing of transactions

How does CAMS online work?

CAMS online is an online service portal. The investors can easily retrieve their mutual fund statements by providing their PAN and registered email id. The user needs to access the ‘Mailback Services’ in order to the statement of accounts

Investors can find the details of NAV & the fees by scheme name in the app. The realized gain statements show data about long-term as well as short-term capital gain. It also allows investors to invest in NPS or open an e-insurance account.

By providing a variety of services on the app and the website, it’s a very popular mechanism. It helps keep a track record on all the investments with the statement of accounts

CAMS Service Cycle:

CAMS online is not just a partner serving fund house or managers, investors and distributors. It also provides services to the end consumers through their service centers and an online portal. However, they do not have any legal authorization to offer mutual fund recommendations or even distribute funds.

The following services are provided to Mutual Funds in India:
  1. Record keeping
  2. White label call center
  3. Brokerage computations & payout
  4. Business continuity services
  5. Consolidated as well as Active Statement of Accounts. Along with varieties of inbuilt dynamic dashboards
  6. Document management & printing solutions
  • Record keeping
  • White label call center
  • Brokerage computations & payout
  • Business continuity services
  • Consolidated as well as Active Statements. Along with varieties of inbuilt dynamic dashboards
  • Document management & printing solutions
Services provided to Private Equity Firms:
  • Pre-Sales
  • Investor onboarding services
  • MIS & reporting
  • Corporate action & tax support
  • Account opening & management
  • Customer services

Features of CAMS

Quality

CAMS is an ISO 9001:2008 certified establishment. It is known for its stringent quality check policies.

Transfer Agency Services

The responsibilities of active mutual fund companies are many. These responsibilities include processing transactions, mapping trends and fund management. An instant technical assistance is also provided by the CAMS to ensure the tasks is completed seamlessly.

Risk Management

A self-determining risk management method is followed by CAMSonline that is supervised by specialists. For example, every possible operative risk is managed regularly with customized software to steady outcomes.

Access

CAMS has already covered more than 250 locations with expanding plans. Their high reach has helped manufacturers to reduce expenditures. This eliminates the need to spend on in-house infrastructure. An investor can visit CAMS service centers for infrastructure installation and maintenance services.

Strong web presence

Currently, an online order-routing method FinNet is used. As a result, the orders from different places are catered to those that do not have a CAMS service center.

Technology Driven

CAMS provides locally developed technology solutions that are on par with international standards. The IT infrastructure has the capability to support over one crore transactions per month.

Confidentiality

Due to the sensitive nature of the mutual fund industry, the customer info at CAMS is highly protected. To ensure the customer’s information is protected, the data is used only to serve customers. Moreover, the access is restricted to only the rightful owner.

E-KYC Facility

E-KYC is an instant and cost-free facility provided to the investors online including via mobile app. This provides the investor to complete their KYC online without any hassle.

Portfolio Mapping

All the mutual funds that you have invested in are mapped to your investment portfolio under CAMS service. In order to ensure the data is correctly captured, it is important to provide the same email ID for all your investments. Here the investment with any mutual fund house is combined and presented.

Single user-id

Once the investor is registered under CAMS online service, the registered details can be used for all your future mutual fund transactions. These transactions can be with any mutual fund house.

CAMS Registration Process

The investors can register with myCAMS using their common email id registered in their Mutual Fund investments serviced by CAMS. Please note that single registration is sufficient either in myCAMS mobile app or myCAMS online. Users can use the same login credentials for both.

You must follow the below CAMS Registration Process:
  • Visit www.camsonline.com Investor Services myCAMS
  • Click on ‘New User Registration’ to create a new user.
  • In the ‘New User Registration screen’. Enter the registered email id as well as captcha. Click on Submit.
  • On successful completion of the registration process, a confirmation alert is displayed on the screen.
  • New User Registration confirmation mail sent to user registered email id, along with the login credentials.
  • Use this user id and password for the initial login in myCAMS ‘User Login’ screen.
  • The 1st time myCAMS user login navigates to the ‘Change Password’ screen, allowing users to set their desired password as per the password logic displayed on the screen.
  • Users may now re-login to myCAMS with the user id as the registered email id and the new set password.
Registration steps in myCAMS mobile app are given below:
  • Download myCAMS mobile app from Google Play Store or iTunes app store and install the same.
  • Click on Register Now.
  • Enter your registered email id in the ‘New Registration screen’ and click on Submit.
  • You will receive a myCAMS User creation confirmation email along with the login password.
  • In the login screen of myCAMS mobile app. Enter your registered email id as User ID. the login password received and click on ‘LOGIN’

What are the services available on CAMS for an investor?

There are multiple services that CAMS provide for your mutual fund scheme investments.

A few of such services are mentioned below
  1. You can manage your account like KYC, Profile, save tax on investments etc.
  2. Details of your portfolio
  3. Portfolio valuation
  4. Instructions for systematic investment plan, STP, SWP etc
  5. Claimed or unclaimed dividend as well as redemption amount.
  6. Current and history of NAV of mutual fund scheme. Current redemption amount on investments.

How do I change my bank details on myCAMS?

In order to maintain a systematic process, mutual funds allow the payouts only in the account which is registered with them. For this reason, you must always make sure the bank account details are latest and updated.

This is a crucial step for the payout. The investors would not receive the payout in the desired bank account unless it’s registered with the mutual fund.

You need to submit the following documents to change your bank.

1. Bank Name
2. Branch Name
3. MICR Code
4. IFSC Code
5. Account Number
6. Name as per Bank Records
7. Type of Account and
8. Cancelled bank cheque.

How can I get all my mutual fund statements online?

Investors can follow the below steps to obtain statements for your mutual fund investments:

1. Firstly, please go to www.camsonline.com
2. Secondly, Click on ‘Investor Services’ on the top menu
3. Thirdly, From the menu on the left of the page, Select ‘Mailback Services’
4. Fourthly, Click on ‘Consolidated Account Statement’
5. Lastly, Please provide your registered email address and password. This need not be your email ID’s password. It is just a password that CAMS will use to encrypt the file that they will be sent to you.

Consequently, you will receive your statement via email within an hour. You need to use the password provided by you to open the statement.

In order to request a single folio statement, choose the ‘Single Folio Account Statement’ option. Further, to request a consolidated account statement, choose the ‘Consolidated Account Statement’ option.

Published on April 9, 2020