MphasiS Limited has informed the Exchange regarding a press release dated March 30, 2026, titled "Mphasis and Flagstar Bank Mark Major Milestone by Completing First Phase of Modernizing the Bank s Technology Infrastructure".

MphasiS announced the successful completion of the first phase of a major technology modernization program with Flagstar Bank, N.A., marking one year of collaboration between the two companies. MphasiS designed, built, and certified two next-generation data centers, consolidating six legacy data centers inherited from Flagstar's recent acquisitions into two modern, co-sourced facilities in approximately twelve months. Hundreds of business-critical applications were migrated to the new platform with zero downtime, delivering improved disaster recovery, stronger operational resilience, and greater agility for the bank. Flagstar Bank is one of the largest U.S. regional banks with $87.5 billion in assets, around 340 branches across ten states, and $66 billion in deposits as of December 31, 2025. The two companies will now move into the next phase, focusing on modernizing Flagstar's applications and operations using AI and next-generation technologies, which points to a continued, longer-term engagement for MphasiS in the U.S. banking sector.