Computer Age Management Services (CAMS), a mutual fund transfer agent, has launched CAMS, a self-service chatbot for mutual fund investors. A digitally operated chatbot can help investors to conduct their financial and non-financial transactions instantly.
CAMS online service received chatbot investors for a real-time view of various investments, updating contact details, making plan related changes, updating bank account, ordering a wide range of account details, updating nominee details, and conducting financial transactions Can do.
Investors can get information about questions related to mutual funds, SIP number, dividend, FATCA, or KYC in real-time.
Currently, all non-financial transactions allow investors to fill out a form and send it to the RTA or specifically AMC. Then it will take some working days to update. Adjustments can be made instantly with the help of a chatbot.
An investor can make adjustments at once through serviced AMC. For example, if you need to update all your mutual fund folios with your email id, you can do this at once via chatbot. It will take you a few minutes to update.
CAMS online currently offer this feature only in the AMCs it represents. It expects to extend the facilities to all AMCs in the future.
The solution was developed after careful analysis of service demand and investor preference trends for the service channel. Unlike traditional email and physical request approaches, CAMS online empower investors to meet their service requirements using a single-window, single-session solution, said the expert.
CAMServ uses a guided navigation approach to ensure that investors can use a predefined flow rather than an open-ended chat model to fulfill a service request. Investors will have to validate by entering PAN and OTP to initiate contact with the chatbot. CAMServ is currently available on camsonline.com, and available on CAMS mobile app.
There are no charges for using CAMS online for mutual funds:
- Only charges are fund expenses of particular mutual funds, and there are no charges for investing in it.
- CAMS online mfdoes not represent all mutual fund houses, so in some cases, it may be easier to invest directly from the respective mutual fund websites.
- The great advantage of CAMS online is that all mutual funds supported by CAMS can be invested or managed from one place.
- But you can use it only for mutual funds for which CAMS is the RTA.
- No, there are no additional charges for using CAMS online for mutual funds, but keep in mind that you can opt for both regular and direct funds, and AMCs (CAMS online if you choose regular funds) will charge you a slightly higher cost ratio than direct money.
- There is no charge for using the CAMS online app to transact or manage your mutual funds.
Using CAMS online, you can now do eKYC, open new folios, view existing portfolios, check mutual fund NAVs, set up Systematic Investment Plan (SIP), opt for Common One Time Mandate (OTM) and can do more through CAMS-serviced mutual funds. Through a single, secure gateway.