In the preceding segment, we unveiled the burgeoning shift of banks towards cloud-based architectures, motivated by a confluence of factors: digital sophistication, flexibility, innovation, privacy, security, and compliance with data protection laws. As banks increasingly migrate to the cloud, the focus sharpens on leveraging specialised services that not only streamline operations but also ensure seamless management and growth within the digital ecosystem.
Enter Trustt, a pioneering force in the realm of SaaS-based solutions tailored explicitly for the evolving needs of the financial sector. Trustt's suite of services encapsulates the essence of cloud-centricity, offering not just hybrid-cloud or private-cloud digital banking services, but an all-encompassing package that manages round-the-clock operations in a SaaS model.
Trustt stands at the forefront, offering a suite of SaaS-based solutions tailored to revolutionise the lending industry namely:
Trustt’s LOS: Trustt's Loan Origination System (LOS) serves as the cornerstone for financial institutions aiming to streamline and automate their loan origination processes. At its core lies the Business Rule Engine (BRE), a highly configurable workflow engine empowering clients to tailor the system to their unique needs. This adaptability drastically reduces the time needed for implementation, shifting the paradigm from months to mere weeks. Notably, Trustt's LOS comes equipped with a rich array of pre-built connectors, ensuring seamless integration and further expediting the delivery process. This module's flexibility and efficiency not only accelerate lending procedures but also enhance the overall customer experience by enabling faster approvals and reducing paperwork.
Trustt’s LMS: Complementing the LOS, Trustt's Loan Management System (LMS) empowers financial institutions to efficiently configure, manage, and service a diverse array of loan products. This comprehensive module incorporates an integrated solution for managing collections, offering automated reminders, flexible payment plans, and strategies tailored to address delinquent loans. What sets the LMS apart is its microservices-driven architecture, allowing tailored solutions for different customer segments based on their specific loan product requirements. This level of customization ensures a personalised experience for borrowers, enhancing customer satisfaction while optimising the lending institution's operations.
Trustt’s Digital Distribution Platform: Trustt's Digital Distribution Platform (DDP) is a game-changer in rapidly disseminating financial products across partner networks. This platform enables banks to swiftly deploy products such as loans, deposits, accounts, and cards through a seamless integration process. Notably, the DDP stands out for its remarkable agility, boasting the ability to go live within a mere two months and launch new financial products within weeks. This rapid deployment capability not only reduces time-to-market but also enhances customer acquisition by up to 200%. Moreover, the platform facilitates the onboarding of new partner networks within weeks, further expanding the institution's reach and accessibility.
Trustt’s Digital Identity Platform: In an increasingly digital world, establishing trust and ensuring regulatory compliance is paramount. Trustt's Digital Identity Platform emerges as a beacon of reliability in this landscape. This platform enables financial institutions to build and maintain trust by facilitating smooth customer Know Your Customer (KYC) processes and verifications while adhering to stringent regulatory standards. The platform's integration with Aadhaar products and services grants access to over 1.3 billion users, leveraging their own AUA/KUA licenses. Notably, Trustt's Video ID KYC Solution for private sector clients doubles the speed of customer KYC processes, enhancing efficiency without compromising security. By offering a robust solution for identity verification, Trustt empowers institutions to confidently navigate the digital realm while ensuring the highest standards of compliance and security.
Technological Edge and Security Assurance: Trustt doesn't just provide services; it leads with innovation. Harnessing cutting-edge technology architecture innovations like Microservices, Containerization, Serverless Computing, and Big Data and Analytics, Trustt augments banks' capabilities to stay ahead in the competitive landscape. Crucially, Trustt's commitment to data protection, encryption, multi-factor authentication, disaster recovery, and regulatory compliance reinforces the trust and security banks require in an increasingly stringent regulatory environment.
Trustt doesn’t just provide services; it leads with innovation. Harnessing cutting-edge technology architecture innovations like Microservices, Containerisation, Serverless Computing, and Big Data Analytics, Trustt augments banks’ capabilities to stay ahead in the competitive landscape. Crucially, Trustt’s commitment to data protection, encryption, multi-factor authentication, disaster recovery, and regulatory compliance reinforces the trust and security that banks require in an increasingly stringent environment.
Conclusion: As financial institutions embark on their journey towards a cloud-native future, Trustt stands as a stalwart partner, providing not just solutions, but a guiding light towards a future where banking operations are streamlined, customer experiences are elevated, and security and innovation converge seamlessly.
Underpinning Trustt's suite of services is a commitment to innovation, security, and technological prowess. Leveraging cutting-edge technology architecture innovations, Trustt empowers banks to not just keep pace but lead the competitive landscape while reinforcing the utmost security measures and regulatory compliance standards demanded by today's stringent environment.