MphasiS Limited has informed the Exchange regarding a press release dated August 01, 2025, titled "Flagstar names Mphasis as its Technology modernization partner".
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Mphasis has been named the technology modernization partner by Flagstar Bank, one of the largest U.S. regional banks with $92.2 billion in assets. As part of an 18-month transformation to become a top U.S. regional bank, Mphasis has set up and inaugurated Flagstar's new world-class data center facility supporting critical infrastructure and future growth. The partnership focuses on enhancing security, improving operational controls, achieving cost efficiencies, and strengthening risk management. Flagstar Bank operates around 360 locations across nine U.S. states. No specific contract value or financial terms have been disclosed in this announcement.
This is a positive signal for Mphasis as it deepens its relationship with a major U.S. financial institution, potentially opening doors to a larger multi-year transformation deal. While no revenue value is disclosed, the strategic nature of the partnership and the size of Flagstar's assets suggest meaningful long-term business potential for Mphasis's banking and financial services vertical.