Mphasis , a leading Information Technology solutions provider, has announced a significant milestone in its partnership with Flagstar Bank. The collaboration focuses on modernizing Flagstar's data center infrastructure, marking a crucial step in the bank's 18-month transformation journey to become a top U.S. regional bank.

Key Objectives of the Partnership

The strategic alliance between Mphasis and Flagstar Bank aims to achieve four primary goals:

1. Enhancing Customer-Centric Culture: Improving performance, scalability, and security to ensure faster, more reliable, and responsive services.
2. Supporting Ongoing Transformation: Streamlining service delivery and enhancing Flagstar's technology capabilities.
3. Realizing Cost Efficiencies: Leveraging modern data center capabilities to support strategic business growth while retiring legacy infrastructure.
4. Strengthening Risk Management: Driving innovation to boost Flagstar's resilience and uphold high standards of data protection.

Technological Advancements

The modernization effort involves building a secure, agile, and scalable technology infrastructure with a modular, scalable design. This approach enables faster innovation and better response to customer and market needs, positioning Flagstar for a hybrid cloud future.

Executive Insights

Christopher P. Higgins, Chief Information and Operations Officer at Flagstar, emphasized the strategic importance of this partnership, stating, "This is a strategic investment in operational resilience, enhanced security, and scalable efficiency. It builds on our foundation of innovation to continually deliver secure, seamless, and forward-looking banking experiences."

Jason Pope, Chief Technology Officer at Flagstar Bank, highlighted the flexibility and innovation potential of the new infrastructure, saying, "The modular, scalable design gives our teams the flexibility to innovate faster and respond more effectively to evolving customer and market needs."

Rohit Jayachandran, Head of Banking & Financial Services at Mphasis, underscored the broader implications of this collaboration, noting, "This program sets a benchmark in banking infrastructure, and we are proud to partner with Flagstar for this next phase of growth."

About Flagstar Financial, Inc.

Flagstar Financial, Inc., the parent company of Flagstar Bank, N.A., is headquartered in Hicksville, New York. As of June 30, 2025, the company reported:

Flagstar Bank, N.A. operates approximately 360 locations across nine states, with a strong presence in the greater New York/New Jersey metropolitan region, the upper Midwest, Florida, and the West Coast.

This partnership between Mphasis and Flagstar Bank represents a significant step in the banking sector's ongoing digital transformation, setting new standards for technological innovation and operational excellence in the industry.

Mphasis Limited (NSE: MPHASIS) has reported a stellar performance for the quarter, marking a significant milestone with its highest-ever quarterly Total Contract Value (TCV) wins of $760 million. The IT services company's strong deal momentum was largely propelled by AI-led solutions, which accounted for 68% of the new contracts.

Financial Highlights

• Revenue reached $437.00 million, reflecting a 1.0% quarter-over-quarter and 6.5% year-over-year growth in constant currency terms.
• Direct business contributed 97% of overall revenue.
• EBIT margin remained stable at 15.3%.

Deal Wins and Business Performance

Mphasis secured four large deals during the quarter, including three deals worth over $100 million each and one exceeding $50 million. The company's success in deal wins was broad-based across verticals:

• Banking, Financial Services (BFS), Insurance, and Technology, Media & Telecom (TMT) verticals drove growth.
• The Insurance vertical demonstrated exceptional performance, growing over 20% sequentially and 27.5% year-over-year.

AI-Driven Growth

The company's focus on AI-led solutions has paid off significantly:

• 68% of the $760.00 million TCV wins were AI-led deals.
• Mphasis has over 250 AI/ML models available on Amazon, Microsoft, and Google marketplaces.
• The company's AI pipeline has grown 2.2x since the launch of Mphasis.ai.

Strong Pipeline Growth

Mphasis reported robust growth in its deal pipeline:

• Overall pipeline grew 16% quarter-over-quarter and 84% year-over-year.
• BFS pipeline increased by 47% year-over-year.
• Non-BFS pipeline surged by 108% year-over-year.

Future Outlook

Mphasis expects to achieve approximately 2x industry growth with target EBIT operating margins between 14.75% to 15.75%.

Nitin Rakesh, CEO of Mphasis, commented on the results during the earnings call, "We are very pleased with our highest-ever TCV wins of $760 million, which included three $100+ million and one $50+ million deal. Our approach to dealing with any headwinds has been to sell our way out by creating deals using our propositions and differentiation."

The company's strong performance and outlook underscore its successful strategy in leveraging AI-driven solutions and maintaining a robust deal pipeline across various sectors. As Mphasis continues to focus on AI-led growth initiatives and expanding its offerings, it appears well-positioned to capitalize on the increasing demand for advanced technology solutions in the evolving business landscape.