Mphasis, a leading IT services provider, today announced the launch of its next generation Governance, Risk and Compliance (GRC) service along with Mindcrest Inc., a pioneer in legal services outsourcing (LPO), to its clients in the North America region.
Mphasis’ next generation GRC services embed Mindcrest’s legal support service capabilities into their existing GRC framework. This enhanced offering provides comprehensive solutions that encompass domain and process expertise and technology enablement.
Mphasis’ next generation GRC services cover a gamut of solutions under the GRC umbrella including remediation, document review, consent order fulfillment, and corporate compliance research, amongst others. The remediation engine comprised of people, process and technology cuts across legal, KYC (know your customer) & mis-sell remediation and is one of the key solutions in this portfolio of services. These services fulfill the need of the financial services industry for a GRC framework to implement controls and comply with changing regulations.
“With far-reaching scope and cost pressures around compliance demands, a move toward converged, end-to-end services, from software and compliance process support, regulatory content and legal services could serve as a viable route to better optimize compliance functions and manage escalating costs,” said Cubillas Ding Research Director Global Finance & Risk, Celent.
“Most GRC services and solutions offered are skewed towards technology. Technology can only be an enabler. With Mphasis, we are meeting the demands of the industry to provide domain specialized services. Our strong focus on the legal domain as a key component of the GRC offering differentiates us from other providers,” said Shantala Sadananda, President of Mindcrest.
“Our augmented GRC services with Mindcrest enables Mphasis offer its customers personalized and specialized GRC solutions including corporate legal services. This translates to quick and easy adoption and minimal disruption for the customer,” said Dinesh Venugopal, EVP and Head of Banking and Capital Markets Group, Mphasis. “This ideal framework allows us to deliver value across all layers; business through technology and process, which few can offer. This, coupled with delivery capabilities from centers across the US, ensures minimum barrier for adoption,” he added.
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