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Mphasis - Transforming the Banking Industry with ESG Services

Vendor Analysis

by Andy Efstathiou

published on Oct 04, 2023

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Report Overview:

This NelsonHall vendor assessment analyzes Mphasis' offerings and capabilities in ESG services for the banking and financial services sector

Who is this Report for:

NelsonHall’s ‘Transforming the Banking Industry with ESG Services’ profile on Mphasis is a comprehensive assessment of Mphasis’ offerings and capabilities for the BFS sector, designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of ESG services and identifying vendor suitability for ESG services in banking 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’ BFS-focused ESG service offerings and capabilities and market and financial strength, including:

  • Identification of the company’s strategy, emphasis, 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 Mphasis’ service components
  • Analysis of the company’s delivery organization including the location of delivery centers.

Key Findings & Highlights:

Mphasis has been implementing ESG capabilities for BFS clients’ operations since 2018. The banking industry represented 49.3% of Mphasis’ revenues in its most recent quarter which ended in June 31, 2023. Mphasis aligns its ESG services with the U.N.’s defined sustainable development goals. Mphasis uses four pillars for its ESG services:

  • Architecting stakeholder value
    • Tech4Good Business: applying AI to solve global challenges and migrate operations to the cloud   
    • Tech4Good Society: enabling research, education, and accessibility to allow a more equitable society 
  • Applying good governance: sound culture, business principles, and practices are ethical, transparent, and timely
  • Incorporating inclusion: key focus areas are  equity and empowerment, inclusivity, driving learnability, and agility, overall wellness and care 
  • Engineering climate sustainability: revisiting and developing new targets and strategies aimed at deep emissions cuts in all sectors. 

Mphasis has an internal ESG program and delivered its second annual ESG report for 2022. It has delivered ESG projects for large global financial institutions and FinTech startups.

It approaches client engagements using a front-to-back process (i.e., starting with customer engagement, at the front, and moving towards the back-end fulfillment operations) when it automates client processes.

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