Vendor Analysis
published on Jan 19, 2021
Report Overview:
This NelsonHall assessment analyzes Mphasis' offerings and capabilities in Intelligent Automation Services in Banking
Who is this Report for:
NelsonHall’s Intelligent Automation Services in Banking Vendor Assessment for Mphasis is a comprehensive assessment of Mphasis’s Intelligent Automation in Banking offerings and capabilities designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of intelligent automation processes and identifying vendor suitability for intelligent automation services 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 intelligent automation services 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 formed its digital services practice in 2015 to enhance core banking platforms by focusing on supporting systems, such as channels, analytics, RPA, and data management. In the beginning, Mphasis focused its engagements on bank product lines (e.g., loans, deposits, and payments). Since then, it has expanded its automation focus to include horizontal engagements such as data management and AI.
In 2020, when COVID hit, Mphasis decided that it would:
- Not lay off employees has allowed it to retain a bench of skilled resources to deploy as engagements have come in. The availability of capacity has allowed Mphasis to win two of the largest deals it has ever won in the IA space
- Reach out to clients to identify their COVID-caused business challenges. Mphasis then developed offerings, without billing clients upfront, to solve the COVID challenges
Mphasis found that clients were looking for support for WFH operations. Specifically, they needed tools to improve the efficiency and monitoring of WFH employees. Mphasis focused most of its tool to build efforts on improving efficiency by building and deploying digital assistants for workers.