Mphasis names Punit Sood Independent Director for AI push

Mphasis has appointed technology and financial services veteran Punit Sood as an Independent Director, strengthening the board of the AI-focused IT services group as it courts global banking and payments clients.

The appointment, which is subject to shareholder approval, will take effect on 11 December 2025 and is for a five-year term. Mphasis works with more than 60 UK banks and financial institutions and has positioned itself around AI-based investigation and financial crime services.

Sood currently serves as an Independent Director on the boards of ICICI Bank and the National Payments Corporation of India. His non-executive portfolio spans mainstream banking, digital payments infrastructure and global capability centres for financial institutions.

He brings more than 36 years of leadership experience across major financial and industrial groups. His career has focused on large-scale technology change in regulated sectors and the build-out of offshore and nearshore technology centres.

Extensive CIO background

Sood has held senior information technology and CIO roles at Citibank, JPMorgan Chase, NatWest, GE Capital and United Technologies. He led technology transformation programmes across multiple geographies and business lines at these organisations.

He has played a central role in establishing and expanding global capability centres for institutions including NatWest, JPMorgan Chase and Citibank. These centres support group-wide technology, operations and digital initiatives for international markets.

In India's technology industry, Sood chaired the NASSCOM Global Capability Centres Council from 2021 to 2023 and continues as a member for the 2023 to 2025 term. He also works as an External Expert with Boston Consulting Group, where he advises clients on global capability centre strategy.

Mphasis has built a client base in financial services and payments, including UK and European institutions that use its AI and analytics services in risk, compliance and operations. The board has sought directors with combined expertise in banking, technology and global operating models.

Commenting on the appointment, Nitin Rakesh, CEO and Managing Director of Mphasis, said Sood brings deep experience in running large technology organisations and managing cross-border change programmes.

"We are delighted to have Mr. Punit Sood join the Board of Mphasis. With an accomplished record of leading global technology businesses and steering transformation across markets, his experience will be a powerful asset to our company. His insights on leadership will enrich our strategic thinking as we continue to navigate the ever-changing business landscape," said Mr. Nitin Rakesh, CEO and Managing Director, Mphasis.

Board experience

Sood's position at ICICI Bank places him on the board of one of India's largest private sector lenders. His role at the National Payments Corporation of India links him with the body that manages key digital payments infrastructure in the country, including the UPI real-time payments system.

This mix of board roles exposes him to regulatory, technology and security issues that affect banks and payment platforms. It also aligns with Mphasis's focus on AI-based services for financial crime and investigations.

The company said the appointment of Sood followed a recommendation by its Nomination and Remuneration Committee. The move fits a broader trend of Indian IT and consulting firms adding directors with banking and payments backgrounds as they pursue work in digital finance, AI and data-led compliance.

Sood holds an MBA from the Indian Institute of Management Ahmedabad and is a graduate of the Indian Institute of Technology Roorkee. His education combines engineering and management training, which has underpinned his roles in technology strategy and delivery.

He said he planned to draw on his experience across global banks and capability centres in his work as an independent director at Mphasis.

"It is a privilege to join this distinguished Board and collaborate with such accomplished leaders. I look forward to serving as an Independent Director and contributing my experience to advance the company's growth journey," said Mr. Punit Sood.