mfcentralportfolio-importfintech

MFcentral is Gone. Here's What You Should Do.

MFcentral's API shutdown in September 2025 left 100+ fintech platforms without portfolio import. Here are your options - and why CASParser is the fastest replacement.

CASParser Team ·

MFcentral’s API Shutdown: What Happened

In September 2025, SEBI and AMFI shut down MFcentral’s API, leaving over 100 fintech platforms without their primary mechanism for importing investor portfolio data. If your platform relied on MFcentral for mutual fund portfolio import, you’re now looking for alternatives.

Let’s break down your options.

Option 1: Account Aggregator

The government-backed solution.

Account Aggregator (AA) provides comprehensive financial data access with regulatory backing. It’s the long-term solution for financial data aggregation in India.

Pros:

  • Banking, MF, demat, and insurance data
  • Government and regulatory backing
  • Real-time data access

Cons:

  • Your company must be a regulated entity (RBI/SEBI/IRDAI/PFRDA-registered)
  • 5-10 months implementation (FIU registration, Sahamati certification, quarterly re-tests)
  • ₹5-25 lakhs+ upfront cost
  • Bonds, G-Secs, EPF, PPF still “Proposed” and not live
  • Joint accounts and NRE/NRO accounts excluded
  • Demat history capped at 2 years
  • RBI Master Direction updated 9 times since 2016

Verdict: Great for long-term, but too slow for immediate needs.

Option 2: Build In-House

The DIY approach.

You could build your own CAS parser. Many teams consider this because it gives them full control.

Pros:

  • Full control over the codebase
  • Custom features and optimizations
  • No vendor dependency

Cons:

  • 3-6 months development time
  • ₹10-50 lakhs+ development cost
  • Ongoing maintenance burden
  • Complex PDF parsing across multiple formats (CDSL, NSDL, CAMS, KFintech)
  • Must handle format changes when institutions update their PDFs

Verdict: Expensive and time-consuming. Your developers should build your core product, not PDF parsers.

Option 3: CASParser

The fastest MFcentral replacement.

CASParser is an API that parses CAS (Consolidated Account Statement) PDFs from CDSL, NSDL, CAMS, and KFintech into structured JSON.

Pros:

  • 5 minutes to integrate
  • Starts at ₹999/month
  • No regulatory approvals needed
  • 97% parsing accuracy
  • Multi-asset support (MFs + equities, bonds, AIFs)
  • Gmail inbox integration
  • White-label Portfolio Connect UI SDK

Cons:

  • Not real-time (CAS is point-in-time)
  • Investment data only (not banking, insurance)
  • Requires CAS PDF as input

Verdict: The fastest, cheapest way to get portfolio import working right now.

Our Recommendation

Use CASParser now, implement Account Aggregator later.

Deploy CASParser in minutes to restore portfolio import immediately. For investment portfolio data, most platforms find CASParser covers everything they need without the regulatory overhead of Account Aggregator.

This gives you:

  1. Immediate portfolio import capability (CASParser)
  2. Long-term comprehensive financial data (Account Aggregator)
  3. No gap in user experience

Get Started

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