Technology modernization partnership established with Mphasis, announced by Flagstar
In a strategic move, Mphasis, an Information Technology solutions provider specializing in cloud and cognitive services, has announced a partnership with Flagstar Bank to set up and inaugurate Flagstar's world-class data center facility. This collaboration aims to modernize Flagstar's technology, improve security, and position the organization for future growth.
Headquartered in Hicksville, New York, Flagstar Financial, Inc., the parent company of Flagstar Bank, N.A., one of the largest regional banks in the United States, had $92.2 billion of assets, $64.4 billion of loans, deposits of $69.7 billion, and total stockholders' equity of $8.1 billion as of June 30, 2025. Flagstar Bank, N.A. operates approximately 360 locations across nine states, with strong footholds in the greater New York/New Jersey metropolitan region and in the upper Midwest, along with a significant presence in fast-growing markets in Florida and the West Coast.
The data center will support Flagstar's ongoing transformation and streamline service delivery. It will enhance Flagstar's customer-centric culture, including performance, scalability, and security. Mphasis' role includes modernizing Flagstar’s technology infrastructure to improve performance, scalability, and security. The partnership will also help Flagstar retire legacy infrastructure to realize cost efficiencies and lay the foundation for future strategic growth.
Rohit Jayachandran, Head of Banking & Financial Services at Mphasis, stated that the collaboration with Flagstar Bank reflects the broader shift among financial institutions toward building secure, agile, and scalable technology. Christopher P. Higgins, Chief Information and Operations Officer at Flagstar, stated that the data center is a strategic investment in operational resilience, enhanced security, and scalable efficiency.
The data center will strengthen Flagstar's risk management through innovation, using smarter tools and forward-looking strategies. It will also complement Flagstar’s in-house Enterprise Technology and Operations Services capabilities with deep financial services technology expertise. This partnership enables Flagstar to progress through its 18-month transformation to become a top U.S. regional bank, with Mphasis providing expertise to modernize technology, enhance security, improve operational controls, and support scalable, agile, and cost-efficient operations.
[1] Flagstar Financial, Inc. is the parent company of Flagstar Bank, N.A., one of the largest regional banks in the United States. [2] Flagstar Bank, N.A. had $64.4 billion of loans as of June 30, 2025. [3] As of the provided date, Flagstar Bank, N.A. had $92.2 billion of assets, $64.4 billion of loans, deposits of $69.7 billion, and total stockholders' equity of $8.1 billion. [4] Mphasis plays a critical role in Flagstar Bank's data center strategy and modernization efforts. [5] The data center will help Flagstar realize cost efficiencies by leveraging modern data center capabilities and retiring legacy infrastructure.
[1] Mphasis, a renowned provider of cloud and cognitive services, has partnered with Flagstar Bank to modernize their technology, setting up a world-class data center facility that aims to boost the bank's digital transformation.[2] This collaboration positions Flagstar for future growth, with plans to improve security, performance, and scalability.[3] As a result, Flagstar Bank, one of the largest regional banks in the US, will streamline its service delivery, strengthen its risk management, and enhance its operational resilience.[4] With the help of Mphasis, Flagstar will retire legacy infrastructure, realizing cost efficiencies and building a foundation for future strategic growth in the digital-and-cloud-computing sector.[5] The partnership between Mphasis and Flagstar is a reflection of the broader trend among financial institutions, moving towards building secure, agile, and scalable technology infrastructures for business growth.
