HDFC Securities partners with KFin Technologies to boost National Pension System accessibility
HDFC Securities, a subsidiary of HDFC Bank, has formed a strategic partnership with KFin Technologies Limited to enhance National Pension System (NPS) accessibility and adoption, the companies announced today in Mumbai.
The shares of Kfin Technologies Limited were trading at ₹1,076.30 down by ₹55.50 or 4.90 per cent on the NSE today at 12.30 pm.
The collaboration combines HDFC Securities’ network of over 3.5 lakh subscribers and 2,700 corporate clients with KFintech’s Central Recordkeeping Agency (CRA) platform. The partnership aims to streamline NPS management through features like flexible transaction statement downloads and real-time SMS notifications.
The timing aligns with the Government of India’s recent increase in corporate NPS tax benefits from 10 per cent to 14 per cent of basic income. Currently, only 18,700 corporations are registered under Corporate NPS with 21.6 lakh subscribers, indicating significant growth potential.
Dhiraj Relli, MD & CEO of HDFC Securities, highlighted KFintech’s technological leadership, noting its 47 per cent contribution to new registrations growth among CRAs. Sreekanth Nadella, MD & CEO at KFin Technologies, emphasized the partnership’s role in democratizing pension coverage across India.
KFintech’s CRA platform incorporates security features such as dual-factor authentication and dedicated subscriber portals, complemented by WhatsApp services and missed call facilities. As one of three central recordkeeping agencies operating for the National Pension System in India, KFintech provides comprehensive services, including a transfer agency and fund administration across multiple Asian markets.
