Company Market Research Report: Trustt

Company Overview

Name

Trustt

Mission of the Company

Help banks, NBFCs, and FinTechs rapidly deliver financial products to their customers with a strong focus on customer convenience, operational efficiency, and security.

Founding Information

Founded As: Novopay

Rebranded As: Trustt™ in March 2023

Founded By: Information not available

Key People

Srikanth Nadhamuni: Executive Chairman; Founder CTO of Aadhaar project

Gautam Bandyopadhyay: CEO; Co-founder

Manoj Matthew: Chief Technical Architect

Ashok Kumar: Vice President - Delivery

Headquarters

Location: Bengaluru, India

Number of Employees

Information not available

Revenue of the Company

Information not available

Known For

Trustt is known for providing cloud-based SaaS digital banking solutions including digital lending, distribution, and identity verification.

Products

Overview

Trustt offers a wide range of products focused on digital banking solutions:

Core Banking Software

Trustt's Core Banking System: Enables banks and financial institutions to launch banking products in weeks with pre-integrated modules for LOS, LMS, Collections, and Identity.

Digital Lending

Loan Origination System (LOS): Automates the loan origination process with configurable workflows.

Loan Management System (LMS): Manages and services various loan products with integrated collection strategies.

Collection Management System (CMS): Automates loan servicing and collections.

Key Features: AI-powered underwriting, flexible loan management, streamlined repayment, and powerful partner network integration.

Digital Distribution

Description: Enables banks to distribute products through partner networks, rapidly acquire customers, and streamline operations.

Key Features: Low-code platform, agent empowerment, seamless partner integrations, unified partner & user management, and analytics dashboard.

Digital Identity

Description: Provides real-time customer verification and regulatory compliance.

Key Features: KYC suite, KYB suite, e-documentation, AI/ML suite, managed Aadhaar services.

Trustt GPT

Description: Large Language Models (LLM) like GPT for conversational UI in banking.

Key Features: Product discovery, customer acquisition, sales co-pilot, customer support.

Recent Developments

Rebranding

Event: Novopay Banking rebranding as Trustt™ in March 2023, marking a renewed commitment to trust and innovation in cloud-based banking solutions.

Product Launch

Trustt GPT Product Suite (March 27, 2023):

Conversational product inquiry using GPT for Banking, enabling customers to interact with banks in their native language.

Partnerships

Merger (July 27, 2023):

Merger with Veri5Digital, a KYC startup launched by Khosla Labs Pvt. Ltd.

Awards and Recognitions

Economic Times Excellence Innovation Award 2023

D&B Startup 50: The Trailblazers' 2023 Award (July 4, 2023)

CEO’s Statements on Future Prospects

Gautam Bandyopadhyay: Envisions generative AI shaping the future of financial services.

Budget 2024 Expectations

Trustt’s CEO: Emphasized policies empowering Fintechs and MSMEs in Budget 2024.

Conclusion

Trustt is a leader in providing cutting-edge, cloud-based SaaS digital banking solutions. With a strong focus on trust, innovation, and efficiency, Trustt enables financial institutions to rapidly deploy, scale, and manage their products. The rebranding from Novopay to Trustt, new product launches like Trustt GPT, and significant partnerships demonstrate the company's commitment to staying ahead in the dynamic digital banking landscape.