Nitin Rakesh, Chief Executive Officer and Managing Director, Mphasis
IT solutions provider Mphasis inaugurated its first Centre of Excellence (CoE) for financial services in Buenos Aires, Argentina. The centre will serve as the base for Latin American operations to implement the company’s Mphasis.ai, which delivers personalised industry-specific applications, at scale in the financial services market.
The company has also onboarded 50 technology experts and plans to scale this number to 200 by the end of year. The AI-powered CoE will integrate capabilities from the Mphasis.ai business unit and act as the core location for North America operations as well.
“We are thrilled to establish our presence in Argentina as a strategic, long-term investment to serve both local clients as well as our global Fortune 100 clients. This expansion leverages the region’s strong expertise in banking and financial services, technology capabilities, and the supportive ecosystem to accelerate our growth,” said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.
Mphasis currently serves 13 of the top 15 retail banks and 7 of the top 10 insurance firms in North America.
The company stated that hiring has begun for a range of digital roles, with future recruitment aimed at deepening expertise in cloud, AI, and automation. The new CoE will support both the local Argentinian market and North American clients.
In Q4 FY25, Mphasis recorded gross revenues of ₹3,717.5 crore at a 2.9 per cent quarter-on-quarter (q-o-q) cash credit (cc) growth and a 5.4 per cent year-over-year (y-o-y) cc growth. The company also saw its net profit shoot up by 4.4 per cent y-o-y and 13.6 per cent y-o-y to ₹446.5 crore during the quarter.
Shares of Mphasis closed at ₹2,523.75 on the BSE on Thursday, marking a 0.91 per cent gain over the previous day’s close.
Published on June 5, 2025
