Mphasis is also focusing energy on innovation. For example, Mphasis’ Next Labs works closely with academia, research labs, start-ups, and technology partners across the globe to research and innovate on emergent and future paradigms, and drive creative disruptions. “Through Next Labs, we can focus on noteworthy core banking areas to deliver disruptive world-class innovations and industry relevant solutions,” says Venugopal. HyperGraf, the first solution developed by Next Labs, is an omni-channel digital 360 degree solution that provides enterprise decision-makers with comprehensive, accurate, and realtime customer engagement insights enabling organizations to analyze millions of multi-structured data points spread across multiple customer engagement channels. “With HyperGraf, banks can generate business relevant insights from digital footprints of customer interactions across channels and identify leads, and cross-sell and up-sell opportunities—creating an engaging customer experience,” adds Venugopal.
Using our extensive experience in banking solutions, we have developed domain specific solutions, knowledge frameworks, and accelerators, which help our customers in accelerating their digital transformation journey
With increasing regulatory focus on curtailing financial crimes, banks are facing a significant uplift in their workforce and investment for Know Your Customer (KYC) and Anti Money Laundering (AML). Mphasis has been supporting banks to manage this better through automation and business process outsourcing. Mphasis has also invested in a corporate startup, or a ‘cart-up’ as Venugopal likes calling it, to provide a holistic approach to compliance. This startup, NextAngles, incorporates cognitive models and smart data that empower intelligent system behaviors, thus significantly automating low level knowledge work.
Mphasis partners with multiple large and mid-size, commercial and universal banks to offer in-depth understanding of process and technologies. In one such instance, Royal Bank of Scotland (RBS), a UK-based banking and financial institution was searching for a service provider to help them manage and transform their application portfolio so that they can serve customers better. “We successfully managed the quality of critical applications at the corporate and institutional banking divisions of RBS by leveraging our latest technologies, tools, and solutions,” adds Venugopal.
“We extend end-to-end solutions to our customers through a combination of process, technology, and operation knowledge,” states Venugopal. “For the days to come, we want to contribute more to the digital age which is on the brink of an industrial revolution by providing faster and better solutions setup.” Furthermore, Mphasis has plans to invest more in their innovation labs to support core banking operations.