Ensuring complete automation of Securities and Exchange Board of India’s guidelines and internal audit policies Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, today announced that Samco Mutual Fund, India’s youngest asset management service provider, has gone live with MFund Plus™, Azentio’s Asset Management Solution, for its front-office business processes.
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MFund Plus™ will provide a comprehensive and proven technology solution, covering automation of both the Securities and Exchange Board of India (SEBI) mandated guidelines and internal audit policies. The solution implemented includes an extensively featured Order Management module to manage different asset classes, such as equity and debt among others, and a highly customised in-built report engine and task scheduler. It was configured to meet Samco’s requirements.
The solution will help the client meet its end-to-end processes including audit, regulatory and internal MIS requirements. All relevant SEBI directives have been configured in the system to detect regulatory breaches.
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Umeshkumar Mehta, CEO of Samco Asset Management Pvt Ltd, said, “Being new in the field of asset management, we found the most suitable technology solution in MFund Plus™, which for decades, has been driving process automation and cost optimization for the industry. With technologies that include AI, RPA, advanced analytics and cloud computing, the solution has the potential to catapult us into the top league soon.”
Krish Narayanaswami, President & Global Head – Banking & Financial Services, said, “We are pleased to have been selected by Samco. I am sure MFund Plus™ implementation will support Samco with technology edge to provide superior services in the market. MFund Plus™ is a trusted solution in the Asian markets for more than two decades.”
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