KFin Technologies start services in GIFT City, to hire 600 staff

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Hyderabad: KFin Technologies (KFintech), a technology-driven financial services platform for capital markets across asset classes, has announced the launch of its operations in GIFT City, Gujarat. KFintech will hire over 600 employees to service various global clientele and will be hiring a majority of resources to generate local employment.

KFintech has formally signed up with 4 GIFT city funds and 2 global funds in GIFT City, as discussions with some other asset managers continue.  

KFintech provides end-to-end services for its clients across fund administration and transfer agencies. The firm’s fund administration platform is a multi-geography, multi-currency investment management product that comprehensively addresses functionalities required by all verticals of the Fund Management industry. It covers almost all asset classes (around 50 in number) and is tailored for use by fund accounting service providers.

“It’s an important step towards bringing financial services transactions relatable to India, back to Indian shores. Our presence in GIFT City will provide the clients wishing to set up their presence in GIFT City with the required market infrastructure and services,” said Sreekanth Nadella, MD and CEO of KFin Technologies.

“Indian asset managers have expanded their business globally and in GIFT City in addition to foreign fund managers domiciling their funds in GIFT city. This has led to an increased requirement for fund management solutions and services to be administered from GIFT City,” added Nadella.

KFintech has been the front runner in servicing this growing client class with the help of an integrated technology platform offering RTA, Fund accounting, Digital, and all allied administration services for the Fund.

“Our IBU in GIFT City will cater to this growing demand across alternatives, private wealth, and portfolio management services. With around 35% of the market share in servicing alternative clients, our business is expanding locally and globally,” concluded Nadella.

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