KFintech INSTA Brokerage starts instant commission – UTI AMC leads the way.
KFin Technologies Private Limited (“KFin Technologies”), a leading technology driven financial services platform providing comprehensive services and solutions to the capital markets ecosystem across asset classes in India and South-East Asia, today announced an initiative wherein it will instantly release distributor commissions with its new INSTA Brokerage plan. With this innovation, distributors will be able to encash their commissions almost instantly when the unit allocations are completed post the settlements.
Speaking on the occasion, Sathish Nuggu, Chief of Technology & Operations (CTOO) of KFin Technologies, said: “We are pleased to launch INSTA Brokerage – an idea that will herald a new era of Ease of Doing Business (EODB) for distributors. The response to the initiative had been very encouraging with our AMC clients in various stages of rolling out shortly. KFintech manages mutual fund operations for 27* out of 44 AMCs.
We will continue to build solutions for the distributors in consultation with both the distributors and our AMC clients. MF Distributors are the backbone of this industry and equipping them with every solution that makes a difference to them is a critical covenant of KFintech’s value system. This solution provides mutual fund distributors with expedited receipt of the commissions thus enabling them to focus on better investor acquisition and engagement
Nuggu further added: “Our aim is to exemplify combination of technology, thought leadership and trust driven Transformation by creating solutions with real world applications. To that end, alleviating financial challenges of the distributors is one of the objectives we fulfilled today.”
Mr. Vinay Lakhotia, Head – Operations, UTI AMC said, “The Distributor fraternity are at the core of our business and we at UTI, have always believed in the spirit of being a true partner to them. UTI AMC, one of the country’s pioneering AMCs has rolled out this initiative for its distributors and it found instant success measured by high adoption rates. Over the last few years, along with KFintech we have been investing in building capacity and computing capabilities by adopting latest technologies to bring in services which are near real time for our investors and partners.”