Mphasis to set up nearshore centre near London, expects to invest GBP 25 mn

The focus will be on digital transformation initiatives in banking & insurance, by establishing a nearshore centre, outside of London.

Bengaluru-headquartered IT

solutions provider Mphasis said on Tuesday it is expanding its footprint in the UK with a special focus on digital transformation initiatives in banking & insurance, by establishing a nearshore centre, outside of London.

Mphasis expects to create close to 1000 UK jobs to begin with; invest over GBP 25 million upfront towards establishing the centre, and provide upskill and training in both digital transformation as well as domain expertise in the UK banking & insurance segments.

UK Prime Minister Boris Johnson was quoted as saying in a company statement: "Trade and investment between the UK and India is creating good jobs and sustaining livelihoods in both of our countries.

Im very pleased thatMphasishas decided to join the legions of Indian companies investing in the UK, boosting our tech sector, and driving economic growth."

"I am excited to elevate our presence in the UK to support future growth, improve operating agility, flexibility and harness local capabilities towards bolstering our offerings over the long term," CEO and Executive Director, Mphasis, Nitin Rakesh, said.

Focused on the insurance market, this centre aims to deliver the best technology and insurance operations services to clients through innovation in operational, technological, and service excellence, the statement added.