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Open Banking and the Realization of Banking-as-a-Service

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In this workshop you will learn how financial institutions are investing heavily in open banking initiatives while there is an arms race to make them matter to the mid-market. Treasury teams, CFO’s and Accountants will want to learn about the trend of delivery of financial products within ERP and how it will change the landscape in both the near and long term.

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Open Banking and the Realization of Banking-as-a-Service

  1. 1. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 1 OPEN BANKING AND THE REALIZATION OF BANKING AS A SERVICE. Scott Derksen, Sr. Director Business Development March 6, 2019
  2. 2. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 2 Safe Harbor Statement The following is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle’s products remains at the sole discretion of Oracle.
  3. 3. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 3 EY FOUR PILLARS OF OPEN BANKING ADOPTION
  4. 4. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 4 REGULATION, TRUST AND CONSUMER SENTIMENT
  5. 5. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 5 LESSON IN DISRUPTION, TRUST & SENTIMENT
  6. 6. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 6 BANKING AS A SERVICE • Banks are not immune to being disrupted • Leading financial institutions are embracing innovation to create new business models and revenue streams • Government regulations are forcing change • How can we leverage innovation to drive consumer sentiment?
  7. 7. © Copyright and Confidential 20187 INDUSTRY TRENDS • Open Banking − Regulatory not Functional − Multi-Billion Dollar Projects − Hard to Monetize in Mid Market • Apps, Marketplaces and the rise of the Banking Appstore − Much like Mobile − SuiteCloud Enables Branded Apps in Context of ERP − Customer Panels – 100% support − All other ERP’s are behind NetSuite − Oracle has adopted strategy • Rich Customer Experiences − Full Suite of Financial Services − Roadmap by Bank or Fintech, Prioritized by Business Units
  8. 8. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 8 DATA IS FRAGMENTED PROCESSES SIT IN SILOS MULTIPLE USER INTERFACES BROKEN TRANSACTIONS & ORDER FLOW DIFFERENT VERSIONS OF THE TRUTH
  9. 9. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 9 Customers are starting to expect integration to their bank − Accurate cash reporting and analytics − End-to-end business process automation − Secure frictionless payment processing − Safe money on transactions Banks want to secure and grow bank revenues − Banks are not immune to disruption − Embracing new business models & services − Extend ERP to integrated bank transactions − Differentiate in the market − Move the needle in both innovation and consumer sentiment WHY SHOULD NETSUITE HAVE BAAS? BANKING AS A SERVICE
  10. 10. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 10 ERP Financials CRM Ecommerce PSA SCM BFN ? SINGLE DATA SOURCE Human Capital Management EXTENSIBILITY AS A COMPETITIVE ADVANTAGE SUITECLOUD®
  11. 11. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 11 SUITECLOUD – BUILT IN PLATFORM FLEXIBLE, POWERFUL, COMPLETE DEVELOPMENT & DEPLOYMENT SuiteBuilder Point-and-Click Customization SuiteBundler Cloud Application Distribution SuiteFlow Visual Workflow Implementation SuiteTalk Cloud App Integration SuiteAnalytics Built-in Business Intelligence SuiteScript Programmable Logic & UI SuiteConnect Cloud Data Integration OPERATION No Version Lock Overnight Upgrades Transparency 24x7 System Status & Ops Assurance 99.5% Uptime Guarantee Process Tests Pre- Production Sandbox Scalability Enterprise Elastic Capacity Security SSAE 16 SOC1/ISAE 3402 Compliance Type II PCI DSS SOX Global Language Mgt Mobile Tablets, Watch iOS Android 100% Browser Browser Independent Global Search Google the Suite Reporting Create Complex forms & reports Digital Assets Manage Unstructured Data SuiteSocial Collaboration Tools CAPABILITIES
  12. 12. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 12 The User − Consumer based UI − Can build their own experience The Business Analyst − Configure business rules, integrate apps − Build Screens, tables, fields The Developer − Robust full development environment − Product life cycle management The Administrator − Management of customizations − Management of roles and security The CIO − Governance, risk and compliance − Transparency, peace of mind The Partner − SuiteCloud Developer Network − Apps for Customers & a Marketplace for Publishers (SuiteApp.com) FLEXIBILITY: SUITECLOUD PROVIDES THE RIGHT TOOLS TO EVERY USER TYPE 99.99% Actual Performance in 2016
  13. 13. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 13 CUSTOMIZATION ISN’T A DIRTY WORD- AUTOMATIC UPGRADES 100% OF OUR CUSTOMERS ARE ON THE SAME RELEASE Two major upgrades per year Ongoing minor upgrades throughout the year Release preview environment Customizations carry forward Customer use cases incorporated in QA testing PATENTED “PHASED RELEASE” PROCESS RELEASE PREVIEW RELEASE PREVIEW RELEASE PREVIEW RELEASE PREVIEW NETSUITE UPGRADE 10% UPGRADE 30% UPGRADE REMAINING UPGRADED PHASE 1 PHASE 2 PHASE 3 PHASE 4 PHASE 1 CUSTOMERS PHASE 2 CUSTOMERS PHASE 3 CUSTOMERS PHASE 4 CUSTOMERS ACCOUNTSNAPSHOT
  14. 14. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 14 OVER 300+ BI COMPONENTS AVAILABLE “OUT OF THE BOX”
  15. 15. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 15 PARTNERS EXTEND THE POWER OF NETSUITE Built-in Platform Enables Partners Designed for Modern Business Unified Data Model Delivers Business Intelligence For All Commerce Omnichannel Built for Your Industry
  16. 16. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 16 HOW DO WE SUPPORT THE BAAS PROGRAM? • The SuiteCloud Developer Network is NetSuite’s technology partner program for Independent Software Vendors (ISVs), BaaS Banks and Fintechs, NetSuite customers, SIs/RSIs, NetSuite PSG, and PS that build applications on or integrations to the NetSuite platform • The SDN organization enables and provides the services related to all levels of (SDN) program engagement 1 6 Developer Account Provisioning Product Management Alignment Partner Solution Engineering Partner Technical Support Solution Quality & Verification Solution Marketing & Lead Gen Partner Commercial Programs Partner Success Methodology
  17. 17. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 17 Office Desktop Smart Phone Mobile Device HOW DOES BaaS WORK? CASH MANAGEMENT • Bank Reconciliation • Cash Forecasting • Working Capital • Funds Transfer • Payments • Remittance • Automated Receivables FIAPISCAPI’S PARTNERORDIRECT SUITEAPP Payment Account Rec NetSuite SuiteCloud Platform Receivables Remittance FX Mgmt Bank Transfers Cash Reporting BANK BANK BANKWorking Capital
  18. 18. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 18Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 18 ORACLE DIGITAL INNOVATION PLATFORM FOR OPEN BANKING Banking as a Service
  19. 19. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 19 Integrated Bank Functions FUTURE STATE: BANK APP MARKETPLACE BaaS SuiteAPP Installable “SuiteApp” • Delivered to support Bank or FI services • Workflows, UI Functions, Integrations and Data support Features • ACH • Domestic & International Wire • V-Card/P-Card • Check Print • Positive Pay • Reconcilliation • …Cash Management Bank (FI) Systems • SFTP • Web Services • Other NetSuite Customer ERP • Receipt of goods or services • Invoice approval • Initiate payment BANK
  20. 20. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 20 VALUE ADDED BAAS SUITEAPP OFFERINGS • Additional value-added services to customers such as: −FX Rates −Account transaction aggregation −SWIFT Service Bureau / MT Concentrator services • Treasury Services: −Currency & FX hedging −Instant Business Loans / LOC −Liquidity Management: cash pooling and sweeping −Investment Management −Debt consolidation and management
  21. 21. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 21 BAAS CUSTOMER EXPERIENCE DEMO
  22. 22. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 22
  23. 23. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 23 OTHER RESOURCES • http://www.netsuiteblogs.com/customers-achieve-efficiency-and-cost-savings- with-netsuite-banking-as-a-service • https://thefintechtimes.com/netsuite-makes-life-easier-for-customers/ • https://www.youtube.com/watch?v=CX2fRgy5Rc0 • https://www.oracle.com/corporate/pressrelease/netsuite-launches-banking-as- a-service-to-tackle-new-era-of-banking-092518.html • http://www.netsuite.com/portal/company/pressreleases/09-25-18.shtml
  24. 24. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 24 Q&A
  25. 25. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 25 THANK YOU
  26. 26. Copyright © 2019, Oracle and/or its affiliates. All rights reserved. 26

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