The client has been an integral part of the Indian financial infrastructure for over 25 years as a regulated entity and built a significant reputation as a Transfer Agency to the Asset Management Industry of India. The company also partnered as a technology-enabled service partner to Private Life Insurance, Private Equity Funds, Banks, and Non-Banking Finance Companies.

Being the oldest mutual fund transfer agency with approximately 70% of the average assets under management, the client had many customer requests in the form of files (CSVs/Excels), emails, and OCR forms that needed to be processed daily. Also, the client’s end customer onboarding process happens on their Customer Portfolio Management Platform, which is a SAAS based platform and works across 17 different AMCs (Asset Management Companies).

Since the entire business processes were carried out manually, it caused multiple errors and was labor-intensive in processing them in a timely manner.

To overcome this challenge, the client aspired to automate the entire process workflow to improve efficiency, accuracy and reduce the cost of these business processes by using the right technology and was on the lookout for a technology partner for end-to-end implementation and support.