Mphasis and Flagstar Bank Complete First Phase of Technology Modernization
New York, March 30, 2026 – Mphasis (BSE: 526299; NSE: MPHASIS), a technology solutions provider, announced the successful completion of the first phase of a technology modernization program with Flagstar Bank, N.A. (NYSE: FLG). The collaboration, which began one year ago, focused on establishing a next-generation data center and cloud platform to support Flagstar's transformation into a leading U.S. regional bank.The partnership resulted in a scalable technology platform designed to support Flagstar's evolving business needs and enable future innovation. Flagstar consolidated six legacy data centers into two modern, co-sourced data centers within approximately twelve months. Following this, Mphasis migrated hundreds of business-critical applications to the new platform with zero downtime.
“Our partnership with Mphasis further advances Flagstar's Simple and Sophisticated (S2) platform initiative,” stated Chris Higgins, Executive Vice President, Chief Information and Operations Officer, Flagstar Bank, N.A.
"Our collaboration with Flagstar Bank reflects a shared commitment to delivering meaningful outcomes through disciplined execution," said Rohit Jayachandran, Head of Banking & Financial Services, Mphasis.
The modernization improved Flagstar’s disaster-recovery capabilities, strengthened operational resilience, and increased the agility of its technology environment. Mphasis and Flagstar will continue their partnership to modernize applications and operations by leveraging AI and next-generation technologies.
About Mphasis
Mphasis is an AI-led, platform-driven company focused on helping global enterprises modernize and scale with agility. Mphasis built NeoIP™, an AI platform that orchestrates a suite of AI solutions.Mphasis is a Hi-Tech, Hi-Touch, Hi-Trust company, rooted in a culture of learning and growth.
Flagstar Bank, N.A.
Flagstar Bank, N.A. is headquartered in Hicksville, New York, with $87.5 billion of assets as of December 31, 2025. The bank operates approximately 340 locations across ten states.Source:
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