CAMS launches digiSIP to start SIP in 7 days

India’s leading Registrar and Transfer Agent for Mutual Funds, Computer Age Management Services (CAMS) announced the launch of digiSIP, an initiative for setting up Mutual Fund SIPs in CAMS website on Tuesday. 

digiSIP is designed as a paperless and accelerated process to bring speed, ease and convenience to distributors and investors.  SIP set-up via digiSIP can be commenced in just 7 business days, significantly reducing the current lead time of 30 days.

The application will innovatively use the power of prefilled forms in combination with electronic payment options such as debit mandate or net banking. It will also provide seamless setting up of payment with e mandate with e sign facility.

digiSIP has been custom built for distributors and investors. Distributors can conveniently set-up new SIP for their clients in just four steps with OTP based confirmations from investors.  Existing investors in any of CAMS serviced Funds can use the pre-filled date and complete SIP set-up in a few clicks while new investors can complete Aadhaar based eKYC and start an SIP seamlessly.  e Mandate option has been enabled in collaboration with NSDL for e Sign and NPCI for mandate registration in investor’s bank. 

The preference of SIP route to make investments in Mutual Funds has gained significant momentum in the last couple of years, leading to CAMS processing over seven lakh new SIPs each month across Mutual Funds.