Novopay

Novopay Banking, now rebranded as Trustt, is a cloud-based Software-as-a-Service (SaaS) digital banking solution offered by Novopay Solutions Pvt. Ltd. According to the vendor, this platform is designed to streamline and automate various banking processes, making it suitable for large banks, Non-Banking Financial Companies (NBFCs), Microfinance Institutions (MFIs), and Financial Technology (FinTech) companies. Trustt offers configurable loan origination and management systems, a robust credit decisioning engine, rich banking APIs, AI/ML analytics tools, and a conversational UI, catering to professionals and industries in the banking and financial sectors.

Key Features

Configurable LOS, LMS & Collection: According to the vendor, Trustt allows users to streamline and automate the loan origination process with the Loan Origination System (LOS) module. It also enables the configuration and management of various loan products through the Loan Management System (LMS) module. Additionally, the platform automates loan servicing and collection processes with the Collection module.

Robust Credit Decisioning Engine: The vendor claims that Trustt provides a Business Rule Engine (BRE) for AI/ML-based credit decisioning. Users can configure credit policies without changing code, enhancing underwriting capabilities.

Rich Banking APIs: Trustt offers pre-integrated banking rich APIs for seamless integration with systems and interfaces, according to the vendor. These APIs include functionalities such as Aadhaar verification, PAN validation, OTP validation, and E-sign.

AI/ML Analytics & Reporting tools: According to the vendor, Trustt provides AI/ML-based analytics and reporting tools for data analysis and visualization. Users can create interactive dashboards using simple SQL queries, facilitating data-driven decision-making.

Horizontal Scalable Architecture: Trustt is built on a horizontal scalable architecture, as claimed by the vendor, to handle increasing workloads and user demands. This ensures high availability and scalability for smooth operations and future growth.

Templatised Automated journeys: The vendor states that Trustt allows users to configure multiple loan journeys or sub-processes using the pre-integrated APIs-based UI layer. This enables the automation of loan origination tasks, such as application routing and status tracking, for streamlined processes.

Trustt GPT (Conversational UI): The vendor claims that Trustt offers a conversational UI, known as Trustt GPT, which enables banking interactions in the customer's preferred language. It facilitates conversational product discovery, customer acquisition, customer support, and sales co-pilot.

Digital Lending Platform: According to the vendor, Trustt provides an end-to-end lending stack that includes the Loan Origination System (LOS), Loan Management System (LMS), Collections, and Credit Underwriting Engine. Users can rapidly configure new loan products using the Business Rule Engine (BRE) and Low Code Framework.

Digital Distribution Platform: Trustt allows the distribution of various banking products, such as loans, deposits, accounts, and cards, through partner networks, as claimed by the vendor. Users can onboard new partner networks quickly and improve customer acquisition by leveraging the Digital Distribution Platform.

Digital Identity Platform: According to the vendor, Trustt enables real-time customer and document verification using Aadhaar, PAN, OTP, and e-sign APIs. It also offers a video ID KYC solution for private sector clients, which the vendor claims can double the speed of customer KYC.