Trustt

What Trustt does

Trustt is a Bangalore-headquartered cloud-based SaaS banking platform, operated by Novopay Solutions Pvt. Ltd. and originally launched in 2014 (rebranded from Novopay Banking in March 2023). The company sells to enterprise financial institutions in India — banks (HDFC, Yes, IndusInd, AU, Equitas, Ujjivan, Fino, Airtel Payments Bank, etc.), NBFCs and MFIs (Bajaj Finance, IIFL, Shriram, Magma, Mannapuram, Arohan, Midland, Samasta, BAF), FinTechs (Razorpay, Paytm, Swiggy, Zomato, Lendingkart, HomeCredit), and insurers (IndiaFirst, Reliance Nippon, Aegon) — through an enterprise field-sales motion with demo-led conversion. Its platform is organized around three pillars: Digital Lending (LOS, LMS, Collection, BRE, Low-Code), Digital Distribution (a partner-network deployment layer), and Digital Identity (Aadhaar eKYC, Video ID KYC, Aadhaar Vault), supported by a Workflow engine, an ELK-stack Analytics module, and a rich Banking API layer. Trustt GPT, launched in March 2023, extends the platform with multilingual conversational banking via generative AI and NLP.

Under the hood, the platform is microservices-driven with containerization, serverless computing, and horizontal scalability, deployed on AWS and Microsoft Azure with deep integration into UIDAI/Aadhaar and India's banking/payments ecosystem. The company reports managing ₹10,000 Cr ($1.3 Bn USD) in loan book, processing ₹2,000 Cr ($266M USD) in monthly payment transactions, powering 130,000 retail points, and serving 3 million+ monthly customer walk-ins across 100+ clients and 4 million+ end customers. Revenue is generated primarily through enterprise SaaS subscriptions for the platform modules, supplemented by API/usage-based fees and implementation/professional services, with a 99.99% uptime SLA commitment.

The company is backed by Khosla Ventures, led by Executive Chairman Srikanth Nadhamuni (founder CTO of India's Aadhaar project) and CEO Gautam Bandyopadhyay (ex-head of Finacle Innovation Hub at Infosys), and underwent a 2023 demerger from Novopay Solutions and merger with KYC-startup Veri5Digital to sharpen focus on core banking systems. Trustt has been recognized with the Economic Times Excellence Innovation Award 2023, the Dun & Bradstreet Startup 50 Trailblazers 2023 award, and featured in Forrester's 'The Future of Fintech 2024' and 'The State of Digital Lending in India 2023' reports.

Name

Trustt

Legal name

Novopay Solutions Pvt. Ltd.

Website

https://trustt.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

251–500 employees

Short description

Trustt is a Bangalore-based cloud SaaS banking platform serving 100+ Indian banks, NBFCs, MFIs, FinTechs, and insurers with configurable digital lending, distribution, and identity (Aadhaar eKYC) modules, plus Trustt GPT conversational AI.

Ownership category

akta.pro rank

Product category

Core Banking Software

NAICS

Computer Systems Design and Related Services (54151), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Programming Services (7371)

akta.pro primary industry

Core Banking & Ledger Systems (Cloud Core, Deposits, Accounts) (FSAGAAAC)

akta.pro secondary industries

Credit Marketplaces, Aggregators & Loan Routing (FSADAFAJ), Decentralized Identity & Verifiable Credentials for Finance (DID/KYC Reuse) (FSAGAMAE)

Keywords

• Cloud banking platform
• Loan origination system
• Loan management software
• Digital identity verification
• Banking-as-a-service APIs

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations

Revenue model

1. SaaS Subscription - Core Banking Platform: Trustt operates as a cloud-based SaaS banking solution provider. Financial institutions (banks, NBFCs, MFIs, FinTechs) subscribe to the platform to access LOS, LMS, Collection, Identity, APIs, BRE, Workflow, and Analytics modules. The subscription model enables clients to deploy digital banking products rapidly on a subscription/contract basis.
2. API/Platform Usage Fees: Rich Banking APIs and platform APIs are made available to clients, likely with usage-based or per-call pricing components in addition to platform subscriptions, as the platform emphasizes API connectivity and integration capabilities.
3. Implementation & Professional Services: Given the enterprise-led sales motion and the complexity of core banking deployments, implementation services, configuration, and onboarding support likely contribute to revenue alongside the SaaS platform subscription.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels9 records

Core offering

Trustt is a cloud-based SaaS core banking platform that enables banks, NBFCs, MFIs, and FinTechs to launch digital lending, distribution, and identity products in weeks. The platform bundles a configurable Loan Origination System (LOS), Loan Management System (LMS), Collection module, Business Rule Engine (BRE), Banking APIs, Low-Code tools, Workflow engine, and Analytics on a horizontally scalable microservices architecture. It also offers a Digital Distribution Platform, a Digital Identity Platform with Aadhaar integration, and Trustt GPT, a GPT-based multilingual conversational AI suite for banking.

Product overview

Trustt offers a cloud-based SaaS banking platform organized around three core pillars: Digital Lending, Digital Distribution, and Digital Identity. The platform provides an integrated suite of products including the Loan Origination System (LOS), Loan Management System (LMS), and Collection module for the lending lifecycle; the Digital Identity Platform with Aadhaar integration and Video ID KYC; and the Digital Distribution Platform for partner network management. Supporting modules include Analytics (built on Elasticsearch and Kibana), Workflow automation, a Business Rule Engine (BRE), Low-Code platform, and Banking APIs. The company also offers Trustt GPT, an AI-powered conversational banking solution. The architecture is microservices-driven with horizontal scalability, deployed on cloud infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• Trustt Core Banking System
• Digital Distribution Platform
• Digital Identity Platform
• Trustt GPT
• Rich Banking APIs

Quantifiable outcome

• Loans disbursed: $1 Bn+
• +11 more outcomes

Named customers41 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature11 records

Partnerships

Four partnerships are on record, tiered core and infrastructure.

• Veri5DigitalcoreStrategic or Co-development PartnerTrustt merged with Veri5Digital, a KYC startup launched by Khosla Labs in 2016. This merger strengthened Trustt's digital identity and KYC/verification capabilities, integrating Veri5Digital's digital KYC solutions (including Aadhaar eKYC, Video ID KYC, Aadhaar Vault) into the Trustt platform.
• Microsoft AzureinfrastructureTechnology or IntegrationTrustt's cloud-based SaaS banking platform is hosted on Microsoft Azure cloud infrastructure, enabling enterprise-grade hosting, scalability, and global reach for the platform.
• Amazon Web Services (AWS)infrastructureTechnology or IntegrationTrustt leverages AWS cloud infrastructure as part of its multi-cloud platform strategy, providing scalable and reliable cloud hosting for its banking SaaS platform.
• UIDAI (Unique Identification Authority of India)coreTechnology or IntegrationTrustt's Digital Identity Platform integrates with Aadhaar ecosystem through UIDAI, granting access to over 1.3 billion Aadhaar users for identity verification, eKYC, and authentication services.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Regional players

• Mambu Compose (formerly CREALOGIX) / Bankoya: LATAM-focused digital lending and core banking SaaS provider. Comparable in business model — cloud SaaS core lending for NBFCs and banks — but serves Latin American financial institutions rather than competing in India.

Direct peers

• 10x Banking: Cloud-native core banking platform for challenger and incumbent banks. Directly comparable to Trustt on cloud-native architecture, API-first delivery, and configurable ledger systems for retail and SME banking.
• nCino: Cloud banking platform focused on loan origination, account opening, and commercial banking workflows for financial institutions. Comparable on configurable LOS, BRE, and workflow modules delivered as cloud SaaS to banks and lenders.
• Newgen Software: India-headquartered digital transformation platform with strong presence in banking process automation, loan origination, and customer onboarding. Comparable to Trustt on LOS, workflow automation, and Indian bank client base.
• Thought Machine: Cloud-native core banking technology provider offering Vault, a SaaS core banking engine. Direct competitor in cloud core banking and lending, targeting global tier-1 and tier-2 banks with configurable ledger systems analogous to Trustt's platform.
• Mambu: Cloud-native SaaS core banking platform serving banks, lenders, and fintechs globally. Directly comparable to Trustt on cloud core, lending modules, and SaaS delivery to financial institutions, though operating primarily in EMEA/APAC outside India.

Broad incumbents

• Infosys Finacle: Established Indian core banking suite from Infosys serving global banks. Trustt's CEO Gautam Bandyopadhyay previously led Finacle Innovation Hub, making this the most direct incumbent comparable on product, geography, and customer base (Indian banks).
• Intellect Design Arena: Indian-based provider of banking, lending, and digital technology solutions for financial institutions globally. Competes with Trustt in digital lending and core banking, particularly for Indian and emerging-market banks.
• TCS BaNCS: Tata Consultancy Services' core banking and financial services platform serving banks and insurers globally. Competes with Trustt across digital lending and core banking in the Indian market with a larger incumbent footprint.
• Cloud Lending Solutions (Q2): Cloud lending platform acquired by Q2, providing loan origination and servicing to banks and lenders. Comparable to Trustt on configurable LOS/LMS SaaS delivery, though Q2 has a broader US-centric footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/TrusttTweets
• YouTubeyoutube.com/@trustt_studio
• Facebookfacebook.com/Trustt.Technology
• LinkedInlinkedin.com/company/trustt-tribe

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Trustt