Nuclei, a B2B SaaS startup, is revolutionizing the way banks adopt advanced consumer technology with their existing ecosystem. To continue to offer customers modern banking solutions, Nuclei is now collaborating with Oracle to embed its SaaS and merchant marketplace program on Oracle’s digital banking platform. Nuclei’s service availability on the Oracle platform is aimed at increasing engagement and retention of a bank’s customers (retail as well as corporate) through digital banking channels. Together, Nuclei and Oracle will help enterprises cater to the digital needs of their users in a simplified, efficient, and exponentially scalable manner.
Nuclei integrates third party merchants and software vendors into a bank’s digital infrastructure, thus creating a marketplace within the bank’s platform. Nuclei is currently working with 18+ banks globally. By collaborating with Oracle, they have made their services available to a much wider range of financial services institutions across the globe. Now, a larger number of banking customers can benefit from a robust digital banking platform with an in-built marketplace that provides access to multiple retail offerings.
Through this collaboration with Oracle, Nuclei will empower enterprises to unlock new revenue streams like subscription fees and merchant revenue. The Nuclei marketplace has curated over 15 software and merchant services categories. The marketplace guarantees a safe, secure, and credible tech ecosystem for banks to add to their digital services.
According to Vikram Gupta, Group Vice President at Oracle – “Embedded services are ushering in a new wave of immersive banking by enabling banks to offer their customers more real-time service on their digital channel of choice. The addition of Nuclei into Oracle Banking APIs’ ecosystem of partners further arms banks to offer customers a wide range of merchant services and software solutions to realize new streams of revenue while simultaneously providing customers an all-inclusive digital banking platform.”
The Oracle Banking APIs ecosystem offers banks a curated list of more than 50 fintechs offering innovative technology solutions across Origination, AI chatbots, Biometrics, Aggregators, regtech, specialty corporate banking, financial wellness, and payments, and more. Having pre-integrated the fintech offerings with Oracle’s digital banking solutions, banks can fast track innovation by choosing to integrate with a fintech of their choice.
Ankur Joshi, Founder & CEO of Nuclei - “Super apps have revolutionized the way users engage with digital services. Consumers now expect instant access to a wide array of services within a unified digital ecosystem. By embracing the super app model, banks can provide customers with a unified and personalized experience that goes beyond traditional banking services. Integrating financial offerings with other relevant services will not only help meet evolving customer expectations but also solidify banks' position as trusted and indispensable financial partners. This collaboration with Oracle will allow a lot more banking institutions to embrace rapid technology adoption unlocking new possibilities in customer engagement”
Incorporated in India, Nuclei is a B2B SaaS startup which is bootstrapped and profitable. Its mission is to inject Consumer Tech DNA into banks. Nuclei believes banks lead with trust, but exponential growth is accruing to fintechs. Nuclei’s solution enables Banks to protect their lead by competing with new age fintechs. Nuclei has developed multiple product offerings
- Merchant Marketplace - Helps clients develop a Super-app and enable their customers to book travel, order food & grocery, pay bills, etc. directly from their mobile app. It also provides a self-onboarding platform for merchants to access the power of distribution through banks.
- Subscription Management - Enables clients to bundle their services with various third-party products/services and offer them as a subscription product to their customers. For e.g., Bundle together banking services with Netflix, Amazon Prime, Spotify, or E-commerce subscriptions, and deliver a cross vertical subscription product.
- SaaS Marketplace - Powers discovery, purchase, and management of business software/SaaS like Oracle, Google, Microsoft, Salesforce, Norton, etc. Customers can avail attractive benefits and realize cost savings when these purchases are made via the bank’s digital platform.
- Embedded Card Stack product - Provides pre-built user journeys to manage and control your Payment cards.
With diverse product offerings across multiple countries focused on creating value for the bank’s customers, Nuclei’s collaboration with Oracle will offer innovative solutions in the B2B finance and technology services domains.
Oracle Banking solutions enable banks to offer a robust set of digital services to customers. The portfolio includes the digital core and applications for retail, corporate, and Islamic banking, real-time payments, and digital experience. Built on a microservices architecture with 3000-plus business services, Oracle Banking APIs makes it easy for banks and fintechs to “plug in” additional Oracle and third-party services, such as those from Nuclei, when they need them. It also provides a scalable, cloud environment for growth through the Oracle Cloud Infrastructure and out-of-the-box compliance with regulatory requirements such a CMA UK and Berlin Group standards.
Oracle Banking APIs enable banks to kickstart their open banking initiatives by offering fintech’s a sandbox environment, Banking as a Service (BaaS) offerings, and many similar innovative approaches. The solution’s API builder tool also allows banks to build custom APIs to suit their requirements.
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Media Contact: divya.chakravarthy@gonuclei.com
