Mphasis Announces Blockchain Led Digital Solution for the Financial Services & Insurance Industries
January 08, 2018 at 07:30 pm IST
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Mphasis announced blockchain-enabled digital solutions, Wealthchain and Chainsure, for the Banking, Financial Services and Insurance vertical. These solutions enhance security, efficiency and governance through which these firms and their partners jointly create and deliver value and experiences to their customers. Mphasis has partnered with Loyakk to build and deliver customer focused blockchain-enabled solutions for insurance and financial services markets. Mphasis has designed an integrated framework that provisions development of blockchain applications. The framework includes a readily available integration stack that helps integrate blockchain faster and simultaneously brings stability to the transformation process. These solutions are based on the detailed blueprints – architected by Mphasis based on their deep domain knowledge, competencies and extensive experience working with financial services and insurance organizations globally. The solution stacks also include Loyakk's patent-pending adaptation of blockchain technology that enables the exchange of information and movement of value throughout a financial services firm's network. The patent-pending 'Vega Business Relationship Platform' makes blockchain technology work for enterprises via configuration and deployment of complex relationship structures, secure access control and multi-context interaction models. The Wealth Management solution, WealthChain, has been designed to help wealth management firms and private banks in the areas of client profiling and onboarding, investment allocation, portfolio management and trading & settlement. Wealthchain can help firms comply with AML and KYC requirements, track investment models track and report portfolio changes and get real-time views of individual account performance and variances.
Mphasis Limited is an India-based company, which applies design, architecture, and engineering services, to deliver scalable and sustainable software and technology solutions. The Company's segments include Banking and Financial Services, Logistics and Transportation, Technology Media and Telecom, Insurance, and Others. It uses its Front2Back transformation approach, which uses cloud and cognitive to provide personalized digital experiences to clients and their end customers. It provides a range of services, which includes application services, blockchain platform, business process services, cloud, cognitive, cyber security, digital, enterprise automation, infrastructure services, products engineering, XaaP (Everything as a Platform) services, and others. It serves various industries, which include banking-capital market, insurance, healthcare and life science, payments, hospitality, travel and transportation, energy and utilities, oil and gas and others.