Acquisition aimed to strengthen its Account Aggregator framework and enhance AI & Analytics services
Chennai, NFAPost: Computer Age Management Services Limited (CAMS), India’s leading technology infrastructure and services provider for financial services industry announced the acquisition of a majority stake in Think Analytics India Private Limited (Think360 AI), a full-stack AI and data sciences firm, which provides innovative solutions using digital technologies like advanced analytics, AI/ML, mobile and cloud computing.
Founded in 2013, Think360 AI offers Software as a service (SaaS) based products, data science and technology advisory services to market-leading firms in India and across the globe. It is one of the pioneers in using alternate data for financial inclusion and has recently launched analytical solutions within the Account Aggregator framework.
Think360 AI, a tech company which caters to mutual funds, alternative investment funds, portfolio managers, pension funds and insurance industry, has come up with flagship products like Algo360, KwikID, AAmaze, and FlowXpert cater to clients in the BFSI segment with primary applications around Digital Lending, Digital Onboarding, Account Aggregation and Process Integration.
While CAMS’s platform for mutual funds and alternatives serves over 300 funds across all facets of the operations of investor servicing, fund accounting and digital and value-added services, the company forayed into the path-breaking Account Aggregator arena via wholly owned subsidiary CAMS Financial Information Services.
In a short span, the CAMSfinserv AA platform has onboarded over forty enterprise clients across the financial services segment.
Commenting on the acquisition, CAMS Managing Director Anuj Kumar said with AI, Analytics, and data-led technologies becoming mainstream to solve problems, and to transform and grow businesses, CAMS finds investing into Think360 AI as a good opportunity that will assist CAMS in building overall market reach and drive innovation in the rapidly growing BFSI and capital markets space.
“The product and solution suite of Think360 AI is a great fit for our Account Aggregator offering, which will help us solidify our position as a digital public infrastructure. We were also impressed by the founding team’s journey of having bootstrapped, built and scaled the company successfully,” said CAMS Managing Director Anuj Kumar.
On this development, Think360 AI Cofounder and CEO Amit Das said the Think360 AI team is excited to be a part of CAMS group, a company that has attained sustained leadership in the financial technology domain.
“The synergy between CAMS and Think360 AI will essentially focus on bringing high-impact innovation across the financial services landscape and creating market-leading advantages for our clients. This will also fortify our ability to tap the immense potential of the Account Aggregator market,” said Think360 AI Cofounder and CEO Amit Das.
Collaboratively, Think360 AI Cofounder and CEO Amit Das said the company looks forward to driving transformation in a true sense with new-generation technologies.
About CAMS Limited
CAMS is a financial infrastructure and service provider to mutual funds and provides platformbased services to other financial institutions. The Company is India’s largest registrar and transfer agent of mutual funds with an aggregate market share of approximately 69% based on mutual fund average assets under management (“AAUM”).
The Company has grown its market share from approximately 61% in March 2015 to approximately 69%, based on AAUM serviced. Its mutual fund clients include ten of the fifteen largest mutual funds. The Company is the market-leading service partner to alternative investment funds and portfolio managers serving over 280 funds with full-stack digital and fund administration services.
CAMSPay is the primary Payment services provider for Mutual funds and several NBFCs. Services to insurance companies and eInsurance services are provided via the subsidiary CAMSRep. The company has recently launched account aggregator service CAMSfinserv, a path-breaking initiative for consent-based data sharing. Central Record-keeping services for National Pension System is similarly a newly launched service.
