Hot Pursuit     06-Mar-23
CAMS acquires majority stake in Think Analytics for strengthening account aggregator framework
Computer Age Management Services (CAMS) said that it has acquired majority stake in Think Analytics India (Think360 AI), a full-stack AI and data sciences firm.

Think Analytics India provides innovative solutions using digital technologies like advanced analytics, AI/ML and mobile & 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's 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 ‘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.

Anuj Kumar, managing director-CAMS, said," With AI, Analytics, and data-led technologies becoming mainstream to solve problems, and to transform and grow businesses, we found 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.”

Computer Age Management Services is India's largest mutual fund transfer agency serving over 69% of assets of the Indian mutual fund industry. As an integral part of the India's financial infrastructure, CAMS has built a reputation as the leading transfer agency to the asset management industry of India and technology enabled service solutions partner to private equity funds, banks and non-banking finance companies.

The company's consolidated net profit fell 4.6% to Rs 73.72 crore despite of 2.5% rise in net sales to Rs 243.57 crore in Q3 FY23 over Q3 FY22.

The scrip rose 0.55% to currently trade at Rs 2324.70 on the BSE.

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