KFin Technologies Limited (“KFintech”), has unveiled XAlt, a first-of-its-kind, and integrated fund administration platform designed exclusively for Alternative Investment Funds (AIFs) in India. The platform offers an integrated solution, making it easier for fund managers and investors to navigate the complexities of AIFs.
Over the past decade, AIF commitments skyrocketed from ₹1,437 crore in 2013 to ₹8,33,774 crore in March 2023—a phenomenal 580x increase. This surge in AIFs is expected to grow at 26% CAGR as India sees substantial growth in high-net-worth individuals (HNIs), ultra-HNIs, and foreign investors seeking diverse investment products in domestic markets. With the alternative investment landscape in India witnessing unprecedented growth, KFintech’s XAlt emerges as a transformative solution. The platform simplifies and streamlines fund administration, addressing the needs of investors, fund managers, distributors, and regulators.
XAlt offers a seamless experience in handling investor services, bolstered by its integration with KFintech’s in-house Fund Accounting platform, mPower. mPower automates key processes such as valuations, income recognition, and compliance management, further streamlining fund administration. This integration further enhances operational efficiency and provides an exceptional user experience.Other key features of the platform include:
Persona-Based Portals: XAlt offers tailored portals for different users like investors, distributors, and fund managers, providing them with relevant dashboard information and detailed transaction insights.
Digital Onboarding for Investors & Distributors: The platform enables easy and digital sign-up processes for investors and distributors, streamlining their integration.
Seamless System Integration: XAlt facilitates smooth interaction between various internal and external systems, enhancing operational efficiency.
Innovative Commission Processing: It introduces unique features for processing commissions in AIF funds, a first in the industry.
Regular AML/KYC Checks: The platform conducts daily runs of Anti-Money Laundering (AML) and Know Your Customer (KYC) checks to ensure compliance and security.
Robust Security Measures: For high-value investors, XAlt provides strong security through complete encryption, virtualisation, and tokenisation.
Sreekanth Nadella, MD & CEO at KFintech, said, “XAlt signifies KFintech’s commitment to providing innovative solutions that meet the growing demands of investors, fund managers, distributors, and regulators in the rapidly expanding AIF market in India.
With the introduction of XAlt, KFintech aims to set new standards in the AIF fund administration space, offering a fully automated system that aligns with the industry’s evolving requirements.”
The industry-first platform is poised to significantly impact fund management and the growth of the AIF sector in India. It simplifies complex processes for fund managers and investors, encouraging more efficient and secure fund administration. Its integrated approach is expected to attract more investments into the AIF sector due to its user-friendly and secure environment for fund administration.
