Home music industry Mphasis Digital Risk Leverages Mendix Low-Code Platform to Drive Fast and Efficient Digitization for the Financial Services Industry

Mphasis Digital Risk Leverages Mendix Low-Code Platform to Drive Fast and Efficient Digitization for the Financial Services Industry


BOSTON, July 30, 2020 / PRNewswire / – Mendix, a Siemens company and the world leader in enterprise low-code, today announced that Mphasis Digital risk, a financial services technology provider for the competitive US mortgage execution market, has successfully launched an expanded portfolio of software development projects for Mphasis’ internal and external clients. Mphasis, headquartered at Maitland, Florida, leveraged the low-code Mendix platform to create 12 enterprise applications for internal use and three industry applications that allow customers to process $ 1.7 trillion per year in secondary mortgages at a rate greater than 10,000 loans per month.

Over the past five years, Mphasis Digital Risk has experienced tremendous growth, doubling in size from 800 to 1,600 employees. “As a business process outsourcer in the rapidly evolving lending industry, we are tasked with solving our clients’ most difficult technological and business challenges, including the digitization of many manual processes,” said Ravi Vasantraj, Senior Vice President and Global Head of Business Processes. Mphasis Services. “We rarely have the time, the budget or the resources to resolve these issues. At our scale, it is essential to speed up and streamline software development. And we need to be sure that our applications are tailored to the needs of the business and perform at the highest level of security. ”

Before adopting the low-code Mendix platform, Mphasis Digital Risk relied on Microsoft’s .NET framework to create software for both internal needs and customer projects. Their experience, however, was that .NET-based applications generally required a major overhaul by developers, despite investing a lot of time in planning cycles with database architects creating entity diagrams and storyboards. Ravi observed that after switching to Mendix, a developer was able to create a complete application that would have required four developers working with .NET.

“With Mendix, the overall development experience is more precise and streamlined,” Vasantraj said. “As a visual process, an application designed by Mendix is ​​quickly understood by each new person who joins an Mphasis Digital Risk project team. The ease of use of the platform has allowed us to assign as few as two people or up to 22 to a team, depending on the complexity of a project, knowing that anyone can make changes quickly. and in complete safety. We didn’t find any other platform that was this robust from the get-go. This has allowed Mphasis Digital Risk to grow in response to industry needs and create successful applications that our customers are happy with. ”

Security issues at the heart of digital banking’s competitive response
For loan underwriters in the secondary mortgage market, the credit landscape has changed dramatically over the past decade. Since the 2008 financial crisis that rocked the mortgage industry, strict regulations and compliance requirements have been adopted by several federal agencies. Yet underwriters expect transparent and fluid data to assess an asset’s quality, risk exposure and third-party ratings in real time, often within minutes of a grant being granted. ready.

For its external aftermarket clients looking to digitize their operations, Mphasis Digital Risk has used Mendix to create robust loan origination systems (LOS) and quality control platform, Qcynergy, that maintain the highest level of security. data throughout the mortgage life cycle. These interactive online web portals centralize and collect data from existing computer systems that were difficult to extract or customize. Other urgent data was previously collected manually via Excel spreadsheets and shared via email.

“Some of our clients working on jumbo loans have a very short time, often six weeks or less, to communicate with other underwriters to retrieve these transactions rather than securitizing those financial notes on the exchange,” says Vasantraj. “These systems enable these transactions by updating information and rebuttals in the loan review pool, communicating quickly and effectively with the leading third party review firms involved in this process.”

Encourage citizen developers within the company
Mphasis Digital Risk has developed and deployed 12 low-code applications to improve the workflows of its Florida-employees based and additional head offices in Chennai, India. Mendix’s low-code solutions have enabled internal stakeholders to participate directly in building the applications they use every day, resulting in a 300-400% improvement in productivity.

According to Vasantraj, software developers have moved from a “back office” role to one in which they regularly interact with product owners and end users. This has resulted in applications that more precisely target the business needs of Mphasis Digital Risk. Additionally, the adoption of low-code has enabled 20% of the company’s business development staff to adopt application development roles using Mendix’s visual language.

When Mphasis Digital Risk identified an internal need with its legal and human resources departments to better track employee hours and workflow, the company turned again to the Mendix platform. Managers demanded that certain employee workflow data be better tracked, recorded, and distilled to ensure hourly workers were able to accurately record time worked, beyond just login data. With this specific business need in mind, Mphasis Digital Risk has created a bespoke platform that its employees can use and implement seamlessly.

“Mendix not only makes development on our own financially viable,” Vasantraj said, “but allowed us to take back control of our workflow and internal processes rather than modernizing solutions on an ad hoc basis. We have seen a noticeable ‘speed of change’ in our response to business critical projects, improving our ability to adapt and respond to challenges from months to days. ”

“With the continuing shortage of IT professionals, we know that businesses need to build software applications ten times faster with 70% less resources to keep pace,” said Johan den haan, CTO at Mendix. “This is why we are aiming high with low-code. Existing IT systems lack the speed or agility to meet the competitive challenges that markets such as finance and banking face in the new decade. Mphasis Digital Risk’s work offers tangible proof of analyst predictions that nearly half of all professionals will soon orchestrate their business application experiences in a way specifically tailored to their needs and function. This trend, which goes hand in hand with the capabilities of low-code, will only accelerate in the years to come. ”

(Source: https://www.gartner.com/smarterwithgartner/gartner-top-strategic-predictions-for-2020-and-beyond/)

About Mphasis
Mphasis (BSE: 526299; NSE: MPHASIS) applies next-generation technology to help businesses transform their businesses globally. Customer orientation is fundamental for Mphasis and is reflected in the Front2Rear™ Transformation Approach. Front2Back ™ uses the exponential power of the cloud and cognitive to deliver hyper-personalized information (C =X2C2 MT= 1) digital experience for customers and their end customers. Mphasis’ service transformation approach helps’ shrink the heart ‘through the application of digital technologies in legacy environments within an enterprise, enabling businesses to stay ahead in a changing world . Mphasis’ core reference architectures and tools, speed and innovation along with domain expertise and specialization are essential for building strong relationships with reputable clients. Click on here find out more.

About Mphasis Digital Risk
Mphasis Digital Risk is a leading end-to-end origination, due diligence, compliance and technology services company delivering differentiated solutions to the mortgage, consumer lending, financial services and other industries. regulated sectors. By providing a combination of digital mortgage services, configurable technologies and business operations, Mphasis Digital Risk provides its clients with high performance solutions that deliver transformational improvements in quality, cost and service. Mphasis Digital Risk is a wholly owned subsidiary of Mphasis Ltd. To learn more, visit https://digitalrisk.mphasis.com/

About Mendix
Mendix, a Siemens company and the global leader in enterprise low-code, is fundamentally reinventing the way applications are built in the digital enterprise. With the Mendix platform, businesses can do more, by expanding a company’s development capacity to overcome the software development bottleneck; Make it Smart, by creating apps with rich native experiences that are smart, proactive and contextual; and Make at Scale, to modernize core systems and create large application portfolios to keep pace with business growth. The Mendix platform is designed to promote intense collaboration between business and IT teams and dramatically accelerate application development cycles, while maintaining the highest standards of security, quality and governance, in short, for help businesses embark with confidence in their digital future. Mendix’s “Go Make It” platform has been adopted by more than 4,000 leading companies around the world.

Connect with Mendix

For more information, please contact:

Deepa nagaraj

Mphasis corporate communication

[email protected]

+1 (646) 424-5160

+91 9845 256 283

Sumana bhat

Mphasis corporate communication

[email protected]


Sara Black

Vice President, Bospar for Mendix

[email protected]

(213) 618-1501

Dan Berkowitz

Senior Director, Global Communications

[email protected]

(415) 518-7870


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