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Andy Efstathiou

Andy is the Banking Sourcing Research Director at NelsonHall where he has global responsibility for Retail and Commercial Banking BPS, Capital Markets BPS, and RPA, AI, and FinTech services in Banking, including consulting, design & deploy, and operations support.

MphasiS - Capital Markets BPO

Vendor Analysis

by Andy Efstathiou

published on Dec 10, 2013

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Report Overview:

This NelsonHall assessment analyses MphasiS' offerings and capabilities in capital markets BPO. MphasiS is one of a number of capital markets BPO companies analyzed in NelsonHall's comprehensive industry analysis programs.

Who is this Report for:

NelsonHall's Capital Markets BPO Vendor Assessment for MphasiS is a comprehensive assessment of MphasiS' capital markets BPO (CM BPO) offerings and capabilities designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for CM BPO RFPs
  • Vendor marketing, sales and business managers looking to benchmark themselves against their peers
  • Financial analysts and investors specializing in the support services sector

Scope of this Report:

The report provides a comprehensive and objective analysis of MphasiS' capital markets BPO offerings, capabilities, and market and financial strength, including:

  • Identification of the company's strategy, emphases and new developments
  • Analysis of the company's strengths, weaknesses and outlook
  • Revenue estimates
  • Analysis of the profile of the company's customer base including the company's targeting strategy and examples of current contracts
  • Analysis of the company's offerings and key service components
  • Analysis of the company's delivery organization including the location of delivery locations.

Key Findings & Highlights:

MphasiS is a Bengaluru (India) headquartered IT and BPO services company. MphasiS was formed in 2000 by the merger of two IT services companies (MphasiS Corp. and BFL Software). In 2006 a majority stake was acquired by EDS. In 2008 HP acquired EDS, including the shareholding in MphasiS; today HP owns 61% of MphasiS. For a comprehensive assessment of HP Services, refer to the latest Key Vendor Assessment on HP Services.

MphasiS has worked with capital markets firms since its inception. MphasiS was started by an ex-Citibanker; among the first clients were two global banks based in the U.S. In 2003, MphasiS started working with captives based in India, and started delivering BPO services. Client onboarding for securities brokerage was the first BPO service delivered to capital markets clients by MphasiS.

MphasiS's CM BPO revenues are generated primarily from account opening and maintenance services in brokerage. MphasiS' CM BPO clients buy both ITS and BPO.

MphasiS is targeting tier 1 multinational financial institutions for their brokerage, investment banking and asset management units. Retirement plan administration within asset management is a primary target. Targets are based in:

  • North America: U.S. and Canada
  • Europe (U.K. and Germany).

MphasiS CM BPO delivers services from three primary delivery centers:

  • Bangalore
  • Pune
  • Chennai

MphasiS' CM BPO practice delivers services supporting all major geographies around the world. The majority of its clients are headquartered in U.S. and Europe.

MphasiS has built its capital markets BPO business from its activities in IT services. Those ITS capabilities include platform migration, coupled with automation of manual processes and consolidation of global processing to single platforms/methodologies.

MphasiS is targeting global clients based in North America and Europe (primarily the U.K.). It is focusing on account opening/administration BPO services (either retail brokerage accounts or retirement accounts. Most CM BPO vendors focus on securities/transactions processing, not account servicing; MphasiS is focused on a less well-served segment of the CM BPO market.

Table of contents:

Table of contents:

  • Background
  • Revenue Summary
  • Key Offerings
  • Delivery Capability and Partnerships
  • Delivery
  • Pricing and Contracts
  • Changes to Operations
  • Platforms and Intellectual Property
  • Target Markets
  • Strategy
  • Strengths and Challenges
  • Strengths
  • Challenges
  • Outlook

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