Trust Fintech Limited (**TFL**) is a high-growth Indian technology firm specializing in the **Banking, Financial Services, and Insurance (BFSI)** sector. Established in **1998**, the company has evolved from a domestic software provider into a global fintech player with a presence in over **20 countries**. TFL provides mission-critical infrastructure, including **Core Banking Solutions (CBS)**, **Loan Origination Systems (LOS)**, and **ERP implementations**, serving a diverse clientele of cooperative banks, public sector banks, NBFCs, and international credit unions. --- ### Specialized Product Ecosystem & Technological Roadmap TFL operates a comprehensive suite of financial technology solutions designed to facilitate digital transformation through **Cloud Enablement**, **API-based integrations**, and **Artificial Intelligence (AI)**. * **Core Banking Solutions (CBS):** The flagship **TrustBankCBS** is ranked among the **top 30 banking solutions globally**. It is highly scalable and includes a **Spanish version** for South American markets. * **Loan Origination Systems (LOS):** * **TrustLOS:** A **100% customized** application launched in **August 2024** specifically for the **North American market**. * **ONDC Integration:** Development of **Buyer and Seller apps** to facilitate loan origination on the Open Network for Digital Commerce. * **Digital Reconciliation & Compliance:** * **Universal Digital Reconciliation:** Launched in **August 2024** to handle **ATM, IMPS, UPI, POS, and E-commerce** transactions, ensuring compliance with the RBI’s **T+1** mandate. * **SoftGST:** A cloud-based GSP (GST Service Provider) application for regulatory compliance. * **ERP & SAP Services:** As a **SAP Channel Partner**, TFL provides sales and implementation for **SAP Business One**, specifically tailored for the SME segment. #### Development Pipeline & Innovation Status (as of October 2025) | Product / Module | Market | Status | | :--- | :--- | :--- | | **Credit Union CBS & LOS** | USA | **Completed** | | **Microfins Platform** | Domestic | **Completed** | | **ONDC Buyer & Seller Apps** | Domestic | **Completed** | | **PMEGP Portal** | Domestic | **Completed** | | **OCR Reading Engine** | Global | **Integrated in all products** | | **AML (Anti-Money Laundering)** | Global | **Work in Progress** | | **RBI Compliance Reporting** | India | **Automation in Progress** | | **NBFC CBS Customization** | India | **Completed** | --- ### Global Footprint & Strategic Market Expansion TFL has transitioned into an export-oriented entity, establishing physical subsidiaries in high-value Western markets to drive international sales. * **North America (TFL Tech Inc.):** A **90% owned** subsidiary in Delaware, USA, focused on marketing CBS and LOS to US Credit Unions. * **United Kingdom (Trust Fintech Ltd, UK):** Incorporated in **January 2025** (**90% stake**). The Board approved a **£300,000** line of credit to fund pilot projects in **predictive analysis** and **AI utilities**. * **Emerging Markets:** * **Africa & Middle East:** Strategic partnerships with **NMG Group (Dubai)** and **XNETT Ltd (Nigeria)** for modular banking software. * **Sri Lanka:** Secured a **3-year** contract renewal with **BMIC Microfinance** starting **January 2025**. --- ### Operational Infrastructure & Human Capital The company supports its global operations through a robust delivery model and high-level industry certifications. * **Development Centers:** Headquartered in **Nagpur**, with additional centers in **Pune** and **Mumbai**. * **Capacity Expansion:** * **Mihan SEZ, Nagpur:** Developing an **8,093.71 sq. meter** (2-acre) facility for global IT solutions, expected to be completed by **late 2026**. * **IT Park, Nagpur:** A **7,000 sq. foot** leased office operational since **August 2024**, housing **125-150** personnel. * **Workforce:** Employs **290+ software professionals** (as of March 2025), having added **100+** members in FY 2024-25. * **Quality Standards:** **CMMI Level 5**, **ISO 9001:2015**, and **ISO 27001:2013** certified. * **Strategic Alliances:** **Microsoft Gold Partner** and empaneled by **GSTN** and **NeGD** (Digi-locker integration). --- ### Financial Performance & Capital Structure TFL listed on the **NSE Emerge platform** on **April 4, 2024**. While FY 2023-24 saw explosive growth, FY 2024-25 represented a period of consolidation and infrastructure investment. #### Key Financial Metrics (Standalone) | Metric | FY 2024-25 (Audited) | FY 2023-24 (Audited) | | :--- | :--- | :--- | | **Net Profit After Tax (PAT)** | **Rs. 8.99 Crore** | **Rs. 12.50 Crore** | | **Revenue Growth (FY24)** | - | **55%** | | **Net Profit Growth (FY24)** | - | **211%** | | **Return on Net Worth** | - | **34%** | | **Return on Capital Employed** | - | **37%** | | **Debt-to-Equity Ratio** | **0.0038** | - | | **Current Ratio** | - | **3.66** | #### IPO Proceeds Utilization (Total Net Proceeds: Rs. 56.2 Crore) As of **March 31, 2025**, the company has deployed capital toward: * **Software Enhancement:** **Rs. 9.23 Crore** * **General Corporate Purposes:** **Rs. 5.19 Crore** * **Hardware Procurement:** **Rs. 1.70 Crore** * **Nagpur Development Facility:** **Rs. 8.3 Lakhs** **Shareholder Returns:** For FY 2024-25, the Board recommended a final dividend of **Rs. 0.50 per Equity Share (5% of face value)**. --- ### Institutional Trust & Recent Business Wins TFL has secured significant mandates from major public and private sector institutions: * **Public Sector:** Empaneled with **Punjab & Sind Bank**, **Bank of India**, and **Bank of Baroda**. Secured orders from **Indian Bank** for the **PMEGP Portal (Ministry of MSME)**. * **Cooperative Sector:** New contracts with **Mumbai Bank**, **Finsharp Co-operative Bank**, and **WNSB Bank** (Feb 2026). * **International:** Work order from **FASYL, Nigeria** for **XnettTrust Lightweight CBS** (Feb 2026). --- ### Risk Profile & Management Transformation The company faced headwinds in **FY 2024-25**, leading to a **28.08%** dip in standalone PAT. Management has identified and is addressing several key risks: * **External Delays:** The **2024 General Elections** and the **Model Code of Conduct** temporarily halted procurement by PSUs and Cooperative Banks. * **Operational Bottlenecks:** Challenges in the **timely hiring of skilled resources** and high employee turnover in the IT sector. * **Financial Risks:** A rise in **Trade Receivables** and negative operating cash flow (**-Rs. 36.74 Crore** in March 2025) due to delayed recoveries. * **Strategic Response:** In **May 2025**, TFL appointed a new **COO** and **CTO** to lead a "Transformation" initiative aimed at improving delivery processes, customer satisfaction, and internal efficiency. * **Credit Ratings:** Maintained strong ratings with **CRISIL (2A)** and **Dun & Bradstreet (2A3)**, indicating high financial strength and performance capability.