Mphasis, a leading IT solutions provider, has announced the opening of its new Innovation Hub for Europe in the heart of London. The hub, located in the iconic Tower 42, signals the company’s commitment to advancing Quantum technologies in the UK and beyond. Mphasis plans to use the facility as a Centre of Excellence (CoE), developing cutting-edge solutions in Quantum Computing, Quantum Cryptography, and Artificial Intelligence (AI).
The new hub is expected to address a range of industry challenges, including algorithmic underwriting, catastrophic risk modelling, and fraud detection. These innovative solutions will help businesses in the UK and globally harness the potential of emerging Quantum technologies.
The UK is already positioning itself as a world leader in Quantum research and development, with the government recently doubling its investment in Quantum technologies to £2.5 billion over the next decade. This initiative, alongside key advancements in AI, engineering biology, and semiconductors, places the UK at the forefront of future technologies.
Mphasis’ new London hub marks a significant step in its broader strategy to expand its presence in the UK. Over the past few years, the company has steadily increased its workforce in the region, and the opening of this facility signals its ambition to double its headcount in the next three years. The centre aims to attract top talent from both the UK and overseas, fostering collaboration and innovation across industries such as banking, financial services, and insurance.
Nitin Rakesh, CEO and Managing Director of Mphasis, expressed his excitement about the company’s deepening commitment to the UK. “At Mphasis, we continuously push the boundaries of technology. Our London Innovation Hub is a reflection of our dedication to the UK’s vibrant tech landscape. This centre will develop next-generation solutions in AI and Quantum Computing, furthering our goal of accelerating digital transformation across Europe.”
Janet Coyle CBE, Managing Director of Business at Grow London, London & Partners, who attended the launch, spoke highly of the initiative. “The UK is an innovation powerhouse, and London continues to be a magnet for world-class businesses and talent. The opening of Mphasis’ Innovation Hub in London is a testament to our thriving tech ecosystem. As technologies like AI and Quantum Computing push the boundaries of innovation, this centre is a welcome addition to the capital’s business landscape.”
Ashish Devalekar, Senior Vice President and Head of Europe at Mphasis, highlighted the strategic importance of the London hub in the company’s plans. “The launch of this facility is a game-changer for Mphasis in the UK. It allows us to focus on cutting-edge areas such as Quantum technologies, cryptography, and data solutions. The UK government’s prioritisation of Quantum and AI aligns perfectly with our vision. We’re excited to play a central role in the UK’s ambition to lead in the global tech race.”
Dr. Siddharth Saxena, Principal Research Associate at Cavendish Laboratory and Director of the Cambridge Central Asia Forum, also spoke at the event. “Quantum Science has evolved rapidly, transforming into tangible technological solutions. As Quantum Computing and related technologies move towards broader applications, Mphasis’ establishment in the UK is timely. Their expertise can deliver transformative value to their customers and support the UK’s leadership in this revolutionary field.”
Situated in Tower 42, a premier sustainable building, the new Mphasis office embodies the company’s commitment to environmental, social, and governance (ESG) principles. This strategic move further strengthens Mphasis’ presence in the UK while positioning it at the forefront of Quantum and AI advancements.
Mphasis’ Innovation Hub is poised to support the UK’s growing technological ambitions, attracting talent and fostering collaboration as it drives forward the future of Quantum Computing and AI solutions.