Mphasis, IT solutions provider, has announced a multi-year global strategic collaboration agreement (SCA) with Amazon Web Services (AWS). With this collaboration, Mphasis establishes the Gen AI Foundry, led by Mphasis.AI, a dedicated business unit focusing on artificial intelligence (AI) solutions, AI use case assessments, consulting, and business transformation.

The Gen AI Foundry will serve as a platform for modeling industry use cases and developing proof of concepts (POCs)—initially within the financial services Industry, with plans to expand across other sectors.

This virtual forum will offer clients the opportunity to experience demos and POCs either at the Mphasis Experience Centre in NYC or AWS Executive Briefing Center (EBC) in NYC, providing a showcase of generative AI solutions tailored to the client’s needs and objectives.

“The Gen AI Foundry for financial services, led by Mphasis.AI, is our commitment to accelerating AI adoption and business modernisation for our clients. By harnessing the power of AWS’s generative AI and data services, we are poised to set new benchmarks in the financial services industry,” said Nitin Rakesh, Chief Executive Officer, and Managing Director of Mphasis.

The Gen AI Foundry aligns with Mphasis’ vision to fully integrate as a trusted provider to the financial services space, with targeted offerings for banks ranking among the Fortune 100, brokerage, and insurance firms. The use cases will focus on applications critical industry applications, such as generative AI for core platform modernisation, contract management for banks, intelligent document processing for new banking accounts, mortgage processing, and in claims processing for insurance carriers, and for investigating financial crime, said the company.