Mid-tier IT player Mphasis is expanding its operations in the UK by establishing a new innovation hub in London. The new facility, located in the iconic Tower 42, will focus on solutions in Quantum Computing, Quantum Cryptography and Artificial Intelligence (AI), with an aim to tackle major industry challenges such as algorithmic underwriting, catastrophic risk modeling and fraud detection.
The company, which employed 31,645 people globally as of the end of June, plans to double its headcount in the UK over the next three years, with the new innovation hub playing a central role in this growth.
Mphasis’ London Centre of Excellence (CoE) is expected to attract top-tier local and international tech talent, driving collaboration and innovation across sectors like banking, financial services, and insurance.
This move aligns with the UK government's recent push to enhance its investment in quantum technologies, committing GBP 2.5 billion (approximately USD 3.26 billion) over the next decade.
“At Mphasis, we’re constantly pushing the boundaries of technology. Our new London innovation hub is a testimony to our commitment to the UK and its vibrant tech scene. This centre will be a focal point for developing next-generation solutions in AI, Quantum Computing, and beyond. It's a significant step forward as we work to accelerate digital transformation across Europe,” said Nitin Rakesh, CEO and Managing Director, Mphasis.
