Novopay to spin off retail biz, focus on banking software
Summary
Founded by Nadhamuni in 2014, Novopay Solutions began as a platform providing payments and banking services to unbanked and rural customers. Asked if that was a reason to go slow on the retail side and put more focus on the banking arm, Nadhamuni admitted the business has changed. Nadhamuni shared that he met with Sam Altman about six months ago in California and realized quickly that Chat GPT is a huge landmark in technology. While the company did not disclose names of some of its clients for its GPT product, three pilot implementations – one with a large bank and two smaller entities – are in progress. Since it is going all out on banking SaaS model under the Trustt brand, the company is bringing Veri5Digital – which was one of the top Adhaar-based KYC startup in its early days but lost its sheen after the Adhaar verdict of the Supreme Court – under its fold.