Technology

Mphasis and AWS collaborate to introduce Gen AI Foundry for financial services

New Delhi, April 5 (IANS) Information Technology (IT) solutions provider Mphasis has entered into a multi-year global strategic collaboration agreement (SCA) with Amazon Web Services (AWS) to launch Gen AI Foundry for financial services. The Gen AI Foundry will serve as a platform for industry use cases and proof of concepts within the financial services industry.

Mphasis CEO and MD Nitin Rakesh stated, “The Gen AI Foundry for financial services, led by Mphasis.AI, is our commitment to accelerating AI adoption and business modernization for our clients.” He further added, “By harnessing the power of AWS’s generative AI and data services, we are poised to set new benchmarks in the financial services industry.”

The Gen AI Foundry is aligned with Mphasis’ vision to become a trusted provider for the financial services space, catering to banks ranking among the Fortune 100, brokerage, and insurance firms. Use cases will focus on applications like generative AI for platform modernization and contract management for banks.

Scott Mullins, MD & General Manager of AWS Worldwide Financial Services, praised Mphasis for their expertise in AWS services and AI/ML capabilities. He mentioned, “Mphasis’ dedication to industry-specific solutions aligns seamlessly with our mission to enable business transformation with cloud computing and generative AI.”

IANS

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