Everest Group Recognizes Mphasis as a Major Contender in its PEAK Matrix™ Report for KYC-AML BPO Service Providers

Top Quote Mphasis (BSE: 526299; NSE: MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced that Everest Group has named the company as a Major Contender in its report titled “Know Your Customer – Anti Money Laundering (KYC-AML) BPO – State of the Market with Services PEAK MatrixTM Assessment 2018”. End Quote
  • New York, NY (1888PressRelease) January 09, 2019 - Through Everest Group’s extensive research, Mphasis was named a ‘Major Contender’ for its focus on risk & regulatory management that enables developed domain expertise in complex processes, as well as expanding its NextAngles proprietary platform capabilities for KYC and AML processing.

    The in-depth report analyzes the changing dynamics of the KYC-AML BPO landscape and assesses service providers across several key dimensions. Everest Group classified 19 service providers on the Everest Group PEAK MatrixTM for KYC-AML BPO into Leaders, Major Contenders, and Aspirants.

    “Evolving compliance laws and an increase in money laundering activities is placing emphasis on KYC-AML in the Banking BPO industry,” said Dinesh Venugopal, President, Mphasis Direct and Digital. “This recognition is a validation of our innovation and investments in building comprehensive offerings and transformational capabilities, helping combat fraud and compliance concerns.”

    “Banks are walking the tight rope trying to balance between regulatory compliance, costs, and operational efficiency. They are finding it difficult to cope with the huge amount of KYC data collected for every customer. With increasing proliferation of ecommerce portals and P2P payments, money launderers are finding new avenues to hide. Mphasis is stepping in with solutions and capabilities across governance, risk, and compliance, seeking to become a partner to its clients in their journey to overcome these challenges,” said Manu Aggarwal, Practice Director, Everest Group.

    The PEAK Matrix is a framework that provides an objective, data-driven, and comparative assessment of KYC-AML BPO service providers based on their absolute market success and capability advancement.

    Earlier this year, Mphasis was also named a Major Contender in Everest Group’s reports titled “Cloud Enablement Services - Market Trends and Services PEAK Matrix™ Assessment 2018: Containers and SDI Gathering Steam” and “Application Services in Global Banking – Services PEAK Matrix™ Assessment 2018: Spending Picks up as Need for Talent, Transformation, and Time to Market Intensifies.”

    About Mphasis
    Mphasis (BSE: 526299; NSE: MPHASIS) applies next-generation technology to help enterprises transform businesses globally. Customer centricity is foundational to Mphasis and is reflected in the Mphasis’ Front2Back™ Transformation approach. Front2Back™ uses the exponential power of cloud and cognitive to provide hyper-personalized digital experience to clients and their end customers. Mphasis’ Service Transformation approach helps ‘shrink the core’ through the application of digital technologies across legacy environments within an enterprise, enabling businesses to stay ahead in a changing world. Mphasis’ core reference architectures and tools, speed and innovation with domain expertise and specialization are key to building strong relationships with marquee clients. Click here to know more.

    For further information, please contact:
    Deepa Nagraj
    Mphasis Corporate Communications
    deepa.nagaraj ( @ ) mphasis dot com
    +1 (347) 268-0661 | +1 (646) 424-5160 | +91 9845 256 283

    Sumana Bhat
    Mphasis Corporate Communications
    Sumana.bhat ( @ ) mphasis dot com

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