NEW YORK, April 15, 2014 /PRNewswire/ -- Mphasis, a leading IT services provider, today announced the launch of its next generation Governance, Risk and Compliance (GRC) service along with Mindcrest Inc., a pioneer in legal services outsourcing (LPO), to its clients in the North America region.

Mphasis' next generation GRC services embed Mindcrest's legal support service capabilities into their existing GRC framework. This enhanced offering provides comprehensive solutions that encompass domain and process expertise and technology enablement.

Mphasis' next generation GRC services cover a gamut of solutions under the GRC umbrella including remediation, document review, consent order fulfillment, and corporate compliance research, amongst others. The remediation engine comprised of people, process and technology cuts across legal, KYC (know your customer) & mis-sell remediation and is one of the key solutions in this portfolio of services. These services fulfill the need of the financial services industry for a GRC framework to implement controls and comply with changing regulations.

"With far-reaching scope and cost pressures around compliance demands, a move toward converged, end-to-end services, from software and compliance process support, regulatory content and legal services could serve as a viable route to better optimize compliance functions and manage escalating costs," said Cubillas Ding, Research Director Global Finance & Risk, Celent.

"Most GRC services and solutions offered are skewed towards technology. Technology can only be an enabler. With Mphasis, we are meeting the demands of the industry to provide domain specialized services. Our strong focus on the legal domain as a key component of the GRC offering differentiates us from other providers," said Shantala Sadananda, President of Mindcrest.

"Our augmented GRC services with Mindcrest enables Mphasis to offer its customers personalized and specialized GRC solutions including corporate legal services. This translates to quick and easy adoption and minimal disruption for the customer," said Dinesh Venugopal, EVP and Head of Banking and Capital Markets Group, Mphasis. "This ideal framework allows us to deliver value across all layers; business through technology and process, which few can offer. This, coupled with delivery capabilities from centers across the U.S., ensures minimum barrier for adoption," he added.

About Mphasis

Mphasis (an HP Company) enables chosen customers to meet the demands of an evolving market place. Mphasis fuels this by combining superior human capital with cutting edge solutions in hyper-specialized areas. Contact with us on www.mphasis.com

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About Mindcrest

Since 2001, Mindcrest has been a trusted partner to law firms and in-house counsel in delivering a suite of legal process outsourcing services in the areas of litigation, corporate legal services and legal content and publishing. Our services and operations are underpinned by an experienced workforce of attorneys, supported by a disciplined approach to execution and delivery. Mindcrest has been consistently recognized as a leader in legal process outsourcing by Frost and Sullivan, The Black Book of Outsourcing, International Association for Outsourcing Professionals and India Business Law Journal.

For further information please contact

Joe Palladino or Amanda Fountain
MSL Group
781-684-0770 
[email protected]

Deepa Nagraj
Mphasis Corporate Communications 
646-424-5160
[email protected]

Teju Deshpande
Mindcrest Inc.
[email protected] 
312-467-9744

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SOURCE Mphasis