Mphasis inks pact with AWS to set up Gen AI Foundry for financial services

Indian IT services firm Mphasis on Friday said it has signed a multi-year global strategic collaboration agreement with Amazon Web Services to establish the Gen AI Foundry.

The foundry will empower financial institutions and help maximise the impact of the technology.

The company said the foundry will initially serve the financial services industry, with plans to expand across other sectors.

The virtual forum will model industry use cases, develop proof of concepts (POCs), and allow clients to experience demos and POCs either at the Mphasis Experience Centre or Amazon Web Services (AWS) Executive Briefing Centre in New York City.

The use cases will focus on 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.

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