Welcome to the Tearsheet Podcast. I’m your host, Tearsheet’s editor in chief, Zack Miller.

This following is part of a new series we’re running. It’s called the Big Bank Theory, and it’s all about the future of banking. We see three options going forward: in the march towards digital, people will gravitate towards the digital arms of incumbent banks, give their business to new upstart challenger banks, or the biggest opportunity, which is to bank with the brands they love.

Through embedded finance, people are increasingly turning to companies they frequent often -- whether it's a big retail player like Walmart or SMB accounting software like QuickBooks -- to plan, store, and move money around.

The following series includes content from Tearsheet’s Big Bank Theory Conference, held in November 2021.

When I give examples of embedded finance, I typically mention Intuit. What the software company has done -- marrying the tracking and forecasting of money together with the actual movement of money, banking, lending -- points to the power of embedded finance. And it’s still early innings for the power of putting banking, payments, and lending where users need it most. For Intuit, the SMB customer is the core focus.

I chatted with Rania Succar, svp of the QuickBooks money offerings, about how Intuit builds embedded finance around her customers’ benefits. We dive into why that’s so important, with concrete examples of how Intuit determines what to offer and how it prioritizes its pipeline. We also talk about the opportunities to go deeper and broader in serving the SMB with embedded finance.

Here’s my conversation with Rania Succar.