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Mphasis - Transforming Wealth and Asset Management Services

Vendor Analysis

by Andy Efstathiou

published on May 10, 2024

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Report Overview:

This NelsonHall vendor assessment analyzes Mphasis' offerings and capabilities in wealth and asset management services

Who is this Report for:

NelsonHall’s ‘Transforming Wealth and Asset Management Services’ profile on Mphasis is a comprehensive assessment of Mphasis’ offerings and capabilities for the wealth and asset management sector, designed for:

  • Sourcing managers monitoring the capabilities of existing suppliers of technology and operational services and identifying vendor suitability for wealth and asset management services in 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 wealth and asset management service offerings and capabilities and market and financial strength, including:

  • Identification of the company’s strategy, offerings, 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 began delivering services to the W&A industry in 1999, and it is now Mphasis’ largest sub-vertical. Mphasis’ W&A clients are primarily large firms based in the U.S. Mphasis supports clients in multiple financial product areas, including:

  • Retirement accounts (Mphasis believes it services 6% of all retirement accounts in the U.S.)
  • RIA accounts: (Mphasis believes it services 64% of all RIA accounts in the U.S.)
  • HNW accounts: (Mphasis believes it services 12% of all HNW accounts in the U.S.).  

Mphasis has made some acquisitions to enhance its capabilities and offerings to W&A clients:

  • Silverline Technologies (2023): a Salesforce solutions and services vendor. The overwhelming majority of Mphasis’ W&A clients use Salesforce solutions 
  • Blink UX (2021): a design company that expanded Mphasis’ capabilities in user experience research, strategy, design, and implementation.

In addition, Mphasis is on codeveloping offerings with technology partners, including:

  • Kore.ai: offerings for conversational AI
  • Workfusion: offerings for digital, non-fungible workers.    

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