- Launched by Shri Tuhin Kanta Pandey, Chairman, SEBI, at APMI’s 3rd Annual Conference.
- InPro brings continuous AML screening, workflow led case management and audit ready compliance to APMI members
The platform was launched by Shri Tuhin Kanta Pandey, Chairman, Securities and Exchange Board of India (SEBI), at APMI’s 3rd Annual Conference at the Jio World Convention Centre, Mumbai.
AML compliance is increasingly moving beyond point in time onboarding checks, as investor profiles and risk indicators can change throughout the customer lifecycle. A new sanctions listing, a change in customer information, a politically exposed person (PEP) connection or adverse media development can introduce new risk signals after onboarding. This makes continuous monitoring, timely review and the ability to demonstrate the basis for compliance decisions increasingly important.
Creating a common technology backbone for AML compliance
Through InPro, APMI members can access a unified platform that brings together AML screening, continuous monitoring, case management and audit trails within a single operating environment.The platform enables PMS providers to screen investor profiles against global sanctions lists, Indian debarment lists, PEP databases, regulatory watchlists and adverse media sources. Screening can be undertaken during onboarding and subsequently when key customer information or other relevant risk indicators change.
Potential matches are routed through a structured Maker Checker workflow, allowing compliance teams to review alerts, resolve potential false positives, escalate cases and record the basis for their decisions. InPro maintains historical visibility into screening activity, alerts, review actions and decisions, providing an audit ready record for regulatory and internal reviews.
The platform also supports near real time decisioning and downstream action enablement, helping institutions move from identifying a potential risk to taking appropriate operational action through system integrations.
Making robust AML infrastructure accessible across the PMS ecosystem
AML and Countering the Financing of Terrorism (CFT) obligations apply to SEBI registered portfolio managers irrespective of their size. However, the ability to independently invest in technology, screening infrastructure and operational resources can vary across firms.APMI’s industry level adoption of InPro enables members to leverage common infrastructure and economies of scale. This allows portfolio managers, including emerging and boutique firms, to access structured AML screening and monitoring capabilities without having to independently build and maintain the entire technology infrastructure.
The initiative also supports greater consistency in how AML alerts can be screened, reviewed, documented and escalated across the PMS ecosystem. The working document specifically identifies shared infrastructure, cost efficiency, common compliance standards and accessibility for smaller and mid sized firms as key benefits of the APMI adoption model.
Sreekanth Nadella, Managing Director & CEO, KFin Technologies Limited, said, "The next phase of financial market infrastructure will be defined not only by how efficiently transactions are processed, but also by how effectively trust and compliance are embedded into the ecosystem. AML cannot remain a point in time check when investor profiles and risk signals can change throughout the customer lifecycle. Through InPro, we are bringing screening, continuous monitoring, case management and decision trails together on a single technology platform. Our partnership with APMI takes this a step further by making this infrastructure accessible across the PMS ecosystem, including firms that may not otherwise invest in building such capabilities independently."
Vikas Khemani, Chairman, Association of Portfolio Managers in India (APMI), said, "As the PMS industry continues to mature, strong governance and robust compliance infrastructure are fundamental to building a resilient and investor centric ecosystem. APMI’s adoption of InPro is aimed at making technology enabled AML capabilities more accessible to portfolio managers across the industry, irrespective of their scale. By creating access to a common platform for screening, monitoring and documentation, this initiative strengthens the compliance framework available to our members while supporting the broader objective of maintaining investor trust and market integrity."
With InPro, KFintech and APMI are bringing together technology, compliance workflows and industry level adoption to support a more consistent and technology enabled approach to AML operations across the PMS industry.
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