Welcome to the Tearsheet Podcast. I'm Zack Miller.

We're doing a deeper dive throughout this month on banking as a service. Like our previous exploration into data aggregation, banking as a service underpins much of what's exciting going on right now in financial services. Open banking is happening — it's just not coming from the big name brand banks. Banking as a service firms are opening up the banking technology stack so that any finance, retail, or travel app can offer financial services without the headache of becoming a bank.

Oracle's ERP, Netsuite is also a major player here. As a leading cloud system of record for midmarket and growth businesses, NetSuite has its own banking as a service offering which enables banks to deliver financial services where their customers reside — in the ERP. Major financial institutions like JPMorgan, Visa, and the Marco Polo Network are connected to Netsuite's BaaS offering.

Scott Dersken is the senior director of business development and SuiteCloud evangelist at Oracle's Netsuite. We talk about how finance is everywhere and why banks and their customers are choosing to collaborate on top of NetSuite. Netsuite launched its BaaS solution just a few months ago and Scott shares some of the early work and use cases of the platform.

Scott Dersken is my guest today on the Tearsheet Podcast.