Mumbai : Mphasis (BSE: 526299; NSE: MPHASIS), an Information Technology (IT) solutions provider focusing on cloud and cognitive services, today announced the inauguration of its maiden Centre of Excellence (CoE) for Financial Services in Buenos Aires, Argentina. The company has onboarded 50 technology experts and plans to scale up to ~200 by the end of year, and potentially grow the number annually, thereafter.
This strategic hub signifies Mphasis’ commitment to pioneering applied Artificial Intelligence (AI) solutions in Argentina and the Latam region for Financial Services. The country’s deep knowledge in Financial Services, combined with Mphasis’ technological strengths, forms the foundation for establishing the CoE.
Mphasis.ai develops AI solutions that deliver personalized interfaces and industry-specific applications to support businesses around the world. Argentina will serve as the base for Latam operations to implement Mphasis.ai at scale in the financial services market. This AI-powered Centre of Excellence will integrate capabilities from the Mphasis.ai business unit and act as the core location for North America operations.
Argentina’s banking and financial technology sector has grown steadily in recent years, supported by rising demand for digital financial services and a strong base of entrepreneurial talent. With this launch in Buenos Aires, Mphasis is proud to contribute to this vibrant ecosystem, advancing financial sector modernization and strengthening Argentina’s role in the global digital economy. Mphasis currently serves 13 of the top 15 retail banks and 7 of the top 10 insurance firms in North America, many with significant operations in the Latam region. The CoE is well-positioned to support both the local Argentinian market and North American clients from this strategic location.
“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. We look forward to nurturing local talent and delivering impactful business outcomes for our clients across Latin America,” said Nitin Rakesh, Chief Executive Officer, and Managing Director, Mphasis.
“Argentina has a long-standing and sophisticated financial services sector that plays a vital role in the region’s economy. By bringing together this deep-rooted industry knowledge with Mphasis’ technological expertise, we see a powerful opportunity to drive innovation and deliver differentiated value to our clients globally. It is a privilege to be here today to officially launch our office and reinforce our commitment to the region,” said Eric Winston, EVP, General Counsel and Chief Compliance, Risk & Ethics Officer.
This vision aligns with the strong growth and potential of Argentina’s software and IT services sector. According to the Argentine Chamber of the Software Industry, the Knowledge Economy has grown significantly over the past two decades, now accounting for more than 150,000 registered tech jobs and over USD 2.5 billion in annual exports. Argentina stands out for its innovation capabilities, particularly in fintech and financial services, where it has developed advanced solutions in payments, risk management, and digital banking. Supportive public policies such as the Knowledge Economy Law and the rise of tech operations in Buenos Aires, Córdoba, and Mendoza further reinforce the country’s position as a strategic center for digital transformation.
Mphasis will drive Savings-Led TransformationTM in Argentina by applying its deep fintech expertise to modernize legacy systems, elevate customer experience, and deliver digital-first financial solutions. The CoE will serve as an epicenter for advanced cloud, AI, and data-driven innovation, with a strong focus on banking and payment services for the South American financial services market.The company is excited to announce the opening of applications for a wide range of digital roles in application development, inviting local professionals to contribute to our innovative projects. Positions include IT Applications, Front-end and Mobile Development, Mainframe Modernization, AI/ML Engineering, Cybersecurity, Cloud Engineering, Data Science, and UI/UX Design. Future hiring will also focus on cloud, AI, and automation skillsets as Mphasis continues to scale its operations.
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