Services
“Mphasis' strong foothold in the BFSI space is characterized by an end-to-end value chain play and a comprehensive partner network, which has helped it secure multiple large engagements and achieve strong revenue growth. The firm has crafted dedicated offerings for private equity firms, while also investing in BFSI-specific verticalized solutions and service enablement initiatives—Mphasis.ai and NEXT Labs—focused on AI/ML, analytics, and automation. These factors have contributed to Mphasis being positioned as a Major Contender and Star Performer in Everest Group's BFSI-specific SPES PEAK Matrix® Assessment 2024.”
Mayank Maria, Vice President at Everest Group
As enterprises seek better return on their software investments, service providers need to align their offerings to provide industry-specific solutions that cater to enterprise needs.
In its BFSI-specific Software Product Engineering Services PEAK Matrix® Assessment 2024, the Everest Group assessed 37 service providers and positioned Mphasis as a ‘Major Contender and Star Performer’.
Major Contenders are categorized as service providers who focus on elevating their domain and technical capabilities, while continuing to invest in developing use case-specific solutions for BFSI (KYC digitization, chatbots, customer insights generation, etc.) and partnering with FinTech's and technology providers to expand their capabilities and market reach. Everest group selects Star Performers based on providers who demonstrate the highest year-over-year improvement in market impact, vision and capability dimensions.
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In the report, Everest highlights the following strengths of Mphasis:
• Achieved strong revenue growth in the BFSI vertical driven by multiple large deal wins and an increasing client base.
• Substantial investments in developing AI-driven IP and solutions across multiple verticals, with a particular focus on industry-specific IP for the BFSI vertical.
• Acquisitions made to enhance its competency across user experience and design (Blink), improve conversational AI-enabled automation (Silverline), and expand UK-based clientele (eBECS).
• Set up a generative AI-focused business unit (Mphasis.ai) and established NEXT Labs to develop cognitive solutions (e.g., InfraGraf, Autocode.AI and Optimize. AI) leveraging AI/ML, analytics, quantum computing and automation.
• Bulit a comprehensive partner ecosystem comprising of hyperscalers and other enterprise technology providers across areas such as cloud, AI/ML, blockchain, data and analytics, automation and low-code/no-code.
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