India’s BaaS Nuclei brings train tickets to banking apps

Written by Ruby Hinchliffe
13th August 2020

Nuclei, a Bengaluru-based banking-as-a-service (BaaS) provider, is bringing train ticket booking capabilities to banking apps.

The fintech, which serves one of India’s largest digital gold providers SafeGold, is partnering with train ticket booking platform ConfirmTkt.

Many banks are using the template set by Southeast Asia super apps like ride-share start-up Grab

ConfirmTkt powers IRCTC, a subsidiary of the Indian Railways, which got back up and running on 11 May following a coronavirus lull.

The train bookings integration Nuclei will offer financial firms will be powered by ConfirmTkt. Whilst ConfirmTkt pulls its bookings predominantly from IRCTC, it does have permission to extend its integration to affiliate partners.

The rise of ‘super’ banking apps

Nuclei believes the integration will help its clients increase customer engagement via their mobile banking apps. This is a metric many banks and financial disruptors are trying to crack.

A tack many are taking is to mold banking apps into “super apps”. Ukraine’s Privatbank has created Privat24, Emirates bank NBD has created a super app through its challenger Liv, and Russia’s Tinkoff – one of the country’s first neobanks – is also slowly edging towards super app status.

All these apps go beyond financial offerings, with integrations to book restaurants, buy tickets for transport or events, and even donate to charities.

Many banks are using the template set by Southeast Asia super apps like ride-share start-up Grab, which are now in turn edging into the financial world.

Nuclei’s super app

Nuclei currently has 16 bank customers across India and the Middle East. These include SBI, ICICI, BoB, IndusInd, Federal, and Canara Bank.

The fintech is in the middle of a global expansion to the US, as well as other parts of the Middle East and Southeast Asia.

Through its partnership with ConfirmTkt, Nuclei will offer train booking capabilities through its merchant marketplace.

Users will also be able to view a checklist of trains, check seat availability and check PNR Status. This is India Railway’s ticket checker service.

Nuclei’s bank clients can already integrate utility and gift card payments. As well as bookings for flights, hotels, and buses, into their mobile apps.

“Partnering with ConfirmTkt helps us offer a complete suite of train checking, booking and cancellation features on mobile banking applications,” says Nuclei’s founder and CEO, Ankur Joshi.

“Trains have always been a primary mode of travel for people in India. The addition of trains category to our marketplace will add immense value to our partner bank’s customers”