Flagstar names Mphasis as its Technology modernization partner

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Aug 01, 2025, 07:00 ET

NEW YORK and BENGALURU, India, Aug. 1, 2025 /PRNewswire/ -- Mphasis, (BSE: 526299; NSE: MPHASIS), an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced today announced a key milestone in its partnership with Flagstar Bank: the setup and inauguration of Flagstar's world-class data center facility that support the bank's critical infrastructure and future growth. Flagstar is progressing through an 18-month transformation to become a top U.S. regional bank, and its data center strategy marks a significant foundational milestone on that journey.

Flagstar's partnership with Mphasis modernizes its technology—enhancing security, improving operational controls, and positioning the organization for future growth. Mphasis' deep expertise in financial services technology modernization and operational excellence complements Flagstar's in-house Enterprise Technology and Operations Services capabilities to help the bank achieve its goals:

Enhancing its Customer Centric Culture: Including performance, scalability, and security. It also ensures faster, more reliable, and responsive services.
Supporting its Ongoing Transformation: The data center enhances Flagstar's technology and streamlines service delivery.
Realizing Cost Efficiencies: By leveraging modern data center capabilities to support strategic business growth and retiring legacy infrastructure, Flagstar is laying the foundation for a more agile, scalable, and cost-effective future.
Strengthening Risk Management Through Innovation: Driving innovation to boost Flagstar's resilience—using smarter tools and forward-looking strategies to stay ahead of emerging risks and uphold the highest standards of data protection.

"Our partnership with Mphasis is an important strategic milestone in Flagstar's digital transformation journey. The data centers are more than just an infrastructure upgrade. 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," said Christopher P. Higgins, Chief Information and Operations Officer, Flagstar.

"Modernizing our data centers working with Mphasis is an important step toward embracing a hybrid cloud future while enhancing security and performance. The modular, scalable design gives our teams the flexibility to innovate faster and respond more effectively to evolving customer and market needs," said Jason Pope, Chief Technology Officer, Flagstar Bank.

"Our collaboration with Flagstar Bank reflects the broader shift among financial institutions toward building secure, agile, and scalable technology. This program sets a benchmark in banking infrastructure, and we are proud to partner with Flagstar for this next phase of growth," said Rohit Jayachandran, Head of Banking & Financial Services, Mphasis.

About Mphasis
Mphasis' purpose is to be the "Driver in Driverless Car" for Global Enterprises by applying next-generation design, architecture, and engineering services, to deliver scalable and sustainable software and technology solutions. Customer centricity is foundational to Mphasis, and is reflected in the Mphasis'Front2Back™ Transformation approach. Front2Back™ uses the exponential power of cloud and cognitive to provide hyper-personalized (C=X2C2^TM=1) digital experience to clients and their end customers. Mphasis' Service Transformation approach helps 'shrink the core' through the application of digital technologies across legacy environments within an enterprise, enabling businesses to stay ahead in a changing world. Mphasis' core reference architectures and tools, speed and innovation with domain expertise and specialization, combined with an integrated sustainability and purpose-led approach across its operations and solutions are key to building strong relationships with marquee clients. Click here to know more. (BSE: 526299; NSE: MPHASIS)

About Flagstar Financial, Inc.
Flagstar Financial, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the country. The Company is headquartered in Hicksville, New York. At June 30, 2025, the Company had $92.2 billion of assets, $64.4 billion of loans, deposits of $69.7 billion, and total stockholders' equity of $8.1 billion. Flagstar Bank, N.A. operates approximately 360 locations across nine states, with strong footholds in the greater New York/New Jersey metropolitan region and in the upper Midwest, along with a significant presence in fast-growing markets in Florida and the West Coast.