Mphasis, announced its agreement with Thomson Reuters, the world’s leading source of news and information, to offer Technology Centric Business Process Services (BPS) for Thomson Reuters BETA customers. The combination of Mphasis’ expertise in the Brokerage & Wealth Management sector and Thomson Reuters’ market-leading wealth management platform, including the Thomson ONE desktop and the BETA brokerage processing solution, represent a transformational opportunity for the wealth management industry.
Under this agreement, Mphasis will offer their back office operations solutions to wealth management firms using the Thomson Reuters BETA platform. This includes services ranging from customer acquisition, account management through trade execution, portfolio management, all the way to settlement and reporting.
“We are pleased that Thomson Reuters, an industry leader in the wealth management space, has selected Mphasis to offer its proven operations outsourcing solutions to its customers. Thomson Reuters BETA clients can leverage this agreement to focus on their core; servicing and creating value for their customers. We are confident this agreement will strengthen Thomson Reuters offering in the industry and help its clients increase the rate of customer acquisition and asset retention while improving operations,” said Anurag Bhatia, Global Head & SVP, Business Process Services – Mphasis.
“We are delighted to enter an agreement with Mphasis to provide wealth management outsourcing solutions to our BETA customers,” said David Akellian, managing director, Wealth Management at Thomson Reuters. “Mphasis has the wealth management operations expertise, experience using the BETA platform, scale, and commitment to information security that will allow our customers to focus on serving their clients better rather than managing the day-to-day demands of back-office operations.”
Mphasis with a rich banking and financial services heritage, has been servicing customers in this space for over fifteen years. Mphasis’ marquee customers across the globe include top six global banks, four of the top ten brokerage and wealth management firms and eleven out of fifteen top mortgage lenders.
The company with over 24,000 employees across 16 countries is a leader in the wealth management and brokerage BPS market. A significant proportion of the 3,500+ specialists focused on Brokerage & Wealth Management are TR BETA trained.
This is a key agreement in addition to initiatives in the areas of AI based Governance Risk and Compliance and Digital Customer Experience solutions. Mphasis fuels this by combining superior human capital with cutting edge solutions in hyper-specialized areas.