White Label Banking Platform

Choosing fintech for business is quite a complicated process that includes cybersecurity, compliance with legal regulations, and adjustments according to the particular needs of a partner. There actually is a category of solutions in fintech which are designated to take headaches away from business owners and give them tools to close their financial needs. We mean Banking-as-a-Service. Among the models of BaaS collaboration gradually appearing in the fintech market, white label can be outlined. In this respect, Regulated Unired Europe would like to spot the light on how it works and with the help of which solutions modern neobanks are moving towards more convenient niche banking and towards more open economies in general.

White Label and Baas: how does it work?

Generally speaking, white label is a kind of partnership when one company produces goods or services, while the other sells them under its own brand. In such a case, both of the partners do what they do best: the seller sells and the manufacturer produces.

The white label concept was initially used in the American recording industry. Vinyl records were produced without a label on them—that is, with a white label—so that retailers could put their company name on them. Since then, the word has spread to other industries and found applications in e-commerce, software development, manufacturing, and finance.

White label is a concept of product development in IT. This scheme was first tried in 2001: an online mobile phone sales site offered other companies a rebranded version of its website. In the banking industry, this format of interaction is realised in the form of Banking-as-a-Service—the provision of banking infrastructure by a company to other market participants.

BaaS is a broader concept than white label. Some product, to which more or less automated access is provided, can be assembled with the help of banking infrastructure and software. The list of such products may includes card issuance, payment processing, limit management system, factoring, acquiring, document recognition, cashback services, loyalty programmes, payments, cash management, corporate accounts, etc. He develops the portfolio of his choice and at his own discretion, thus creating a customized variant of his own “bank”. In White Label’s case, it is only a matter of acquiring a set of finished products for clients for certain needs.

The basis for a White Label product is an electronic wallet that could store electronic money and perform a wide variety of financial operations with it:

• Virtual and plastic bank cards can be issued to it, which is added to Google Pay, Apple Pay, Samsung Pay
• The wallet can be topped up in various ways, for example, from other cards or payments from partners
• You can withdraw funds from the wallet to providers, to cards of other banks or to another wallet
• Partners are able to build their custom applications around the product using a modern API protocol.

White label neo banking platform – who is this service for?

Neobanks with EMI/PSP licence in Europe

When many large companies decide to launch financial products and services, they resort to technology providers since they either have no prior experience in development or simply cannot afford to develop a banking product on their own. In that case, buying the needed service is more logical for them.

The process is crystal-clear: the client gets a card, pays for something with it, and the commission is deducted, which goes to the issuer. Then, this information about the purchase is transferred to the partner retailer, and it gives points to the client in some form of cashback.

Non-banks and fintechs

This class of business needs a complete infrastructure layer to which it can connect and thereby extend the payment functionality of its products.

In Europe, large banks own the infrastructure, and niches for product development by the banking startups are very limited. Besides, these small companies normally don’t have competence or resources for the development of their own products at least within the scope of such complex and highly regulated products like banking ones.

There are situations when a company wants to test a hypothesis at the crossing of banking and non-banking organisations. This includes the development of a niche bank for a narrow segment or the combination of banking and non-banking services that a particular audience may need. To check such a hypothesis, you usually need a license and some infrastructure related to banking. In this respect, BaaS helps an institution test such a hypothesis in a much simpler and cheaper way than building an in-house bank.

BaaS can benefit any business that needs to insert financial functionality into their products but does not have the resources, budget, or know-how to do so.

It is important to realize that the main task of a business is to find an added value for an already existing core product. This can be, for example, user retention or process optimization. Therefore, a white label should be synergistic with the core business – then this product will bring maximum benefit.

Positive impact of white label banking on the economy

White label not only lends a helping hand to businesses but also contributes to the development of the economy. Thanks to WL, companies enhance the customer experience and services, fundamentally new solutions appear on the market, the cross-industry co-operation develops, startups get access to reliable infrastructure and can develop their products, which, in turn, fuels up competition in the market. Thus, more and more neo-banks and niche players emerge. Unlike large businesses, they will solve customer problems in a focused and distinctive manner by creating services for narrow needs and niche audiences for which traditional banking is not good enough.

Conceptually, BaaS and its private White Label example move a step closer to an open finance society and a more flexible economy. Many countries move towards open banking: banks give access to their infrastructure through open APIs.

White label digital bank

Private Label Banking Solutions: Tailor-Made Financial Products

Generally speaking, digital banking projects and respective applications require multi-million investments of both time and capital. Instead of developing unique banking solutions from scratch, fintech projects have the chance to introduce their products using off-the-shelf white-label platforms and reduce time-to-market along with cost optimization. In the given article, we will outline the main features of white-label digital banking solutions and the main advantages of this approach.

What is White-label Digital Banking?

White-label banking covers extensive back-office work and provides ready-to-use banking and payment products, including APIs interacting with different BaaS providers. At the same time, this approach opens wide opportunities for developing new products without having to build them from scratch and simplifies the integration of new services.

White-label digital banking solutions White-label’s digital platform extends to the following:

• Customer onboarding and AML/KYC: New customers receive verification of an account opening and registration process. Inbuilt KYC/AML procedures ensure secure, fast, and easy registration processes.
• Payments and Currency Transactions: Building a payment system yourself is a difficult, yet not impossible task. However, White-label offers you out-of-the-box solutions in the field of payments and currency transactions. You’ll easily connect to a bundle of services and make it possible to offer your customers a wide range of payment methods and currencies. Meanwhile, due to Licensing as a service, Fintech projects are able to operate under the license of partner e-money, payment systems, or banks.
• Card issuance solution providers may enable you to issue debit cards under your brand.
• Sponsorship of IBANs: Numerous licensed companies are ready to provide the functionality of IBANs with no special licence and with integration into SEPA. You can now automate the process of issuing and managing IBANs by means of an API. The issued IBAN numbers are registered in the name of the partner and will be given to the customer with details.

Indeed, integrations of various off-the-shelf white-label solutions are painful, but the process is considerably made easier with integrated solutions and flexible architecture that enables the launching of new products. Integrated white-label end-user applications and digital banking.

Principle-wise, white-label digital banking solutions are interested in back-office processes. The customer experience would come from the end-user applications, including web banking and mobile apps. They successfully complement a digital banking solution on the interface of the user experience. With this, Fintech companies can quickly develop applications for their customers using their brand and style.

White-label benefits: saving resources

This requires huge investments in the IT team, testing, and debugging. Buying a ready platform saves costs and reduces implementation time. A white-label product is developed by expert teams using state-of-the-art technology and thorough testing, with adherence to regulatory requirements.

Quicker Start: Without months of development and further months of testing, off-the-shelf solutions mean you’re faster to introduce new features and offer them to customers. Understand the product front, test and customize it before going to market.

White-Label Solutions in Online Payments

The white-label model has opened many possibilities in online payments, allowing companies to offer sophisticated payment solutions without extensive resources. Common white-label solutions in this market include payment gateways and payment orchestration services.

White label payment gateway

So, the first product is a white-label payment gateway, also known as SaaS PSP where SaaS stands for Software as a Service and PSP stands for Payment Service Provider. This is an out-of-the-box payment solution that could be implemented by businesses to accept payments under their own brand or provide payment services. With SaaS PSP, a business gets all it needs to take care of accepting payments on its own: a personal account for online merchants, a payment page, technical documentation, and an admin panel where its team can manage all merchant onboarding processes.

All this, besides the whole PSP infrastructure, adds the expert team that keeps it working: it provides conscientious technical support and gives recommendations on any matters.

Most often, PSP start-ups go for a white-label payment gateway. The thing is that they already have their contacts with acquiring banks and payment systems, yet the team is small, and the resource for developing services for merchants and payers is very limited.

By connecting a white-label PSP, these businesses get a full-fledged payment service, which includes a merchant portal-a personal account where online merchants can work with the payments;

• Payment page adapted to all the screens and devices;
• Documentation with which their clients will customize the payment;
• Easy-to-use admin panel for your team with which to connect online sellers and manage projects.

All the services with which online sellers will work are designed in the corporate style of the WL-client and hosted on its domain. That’s why neither partners nor payers even suspect that the business uses the WL platform.

Setting up and basic customization of a SaaS PSP take about two weeks, while developing a payment gate from scratch takes about two years and costs at least $1.5-2 million.

White label banking platform – general information

White label is a solution that enables companies to use an off-the-shelf product or service developed by another company under their own brand.

Advantages of this solution

White label solutions of payment services are ready technology platforms provided to the partners for supporting processes of payment and money transfer. Benefits from such solutions are evident:

• Product development and time-to-market is reduced. A company can concentrate on promotion of the brand and advertising campaigns.
• Cost saving. White label solutions are ready-for-use platforms.
• Flexibility in customization and integration: via white-label platform functionality, to customize the solution in accordance with specific partners’ needs; by using APIs, the payment service can be integrated into partners’ software or a website.
• Increasing the functionality of a partner’s product line: With white label solutions, partners receive access to tools that can significantly widen and complement the functionality of their products. Thus, they will be able to compete with other companies in this market segment.
• Brand awareness. The brand partner considers white label solutions that have already proved themselves in the market, which means recognition and enhancement of customers’ loyalty.

White label service is an excellent option for the company that wants to develop its online payments business in the most efficient and fastest way possible.

What is White Label personalization and why it is more profitable comparing with developing of your own platform

White label personalisation is the process of tailoring and modification of an ordinary interface to meet your specific business or brand demand. A unique look and feel can be achieved by adjusting the right changes in a logo, colour scheme, fonts, texts, and more of the UI elements to create uniqueness and distinction for users and customers.

Commissioning white label platform personalisation can be much more cost-effective than developing your own payments platform:

• Building your own platform is extremely time-consuming and expensive; it means creating all its components from scratch, from design to testing and implementation. In turn, a white label platform can be customized with much less time and financial investment, since most of its parts have already been designed-what is left is their adjustment to concrete needs and branding.
• Personalization of a white label platform reduces the time taken to go to the market because, with an existing platform, you can have your application up and running immediately after you make the required changes and adaptations.
• Customisation of the ordering platform can give you high-quality and reliable technologies that are already tried and tested in well-established technologies.

Therefore, white label platform personalisation is a less expensive and faster means of developing your own payments platform.

How it works and who it suits

A payment service using a white-label solution will be offering to its customers a complete payment service under its own brand.

White-label payment service solutions are handy in a range of companies and businesses, which are eager to offer online payment services. They are great for startups and small companies that lack one’s own infrastructure and the capability to build a payment system from scratch.

White Label also assists the big companies wanting to expand their businesses and sell their services in the new areas. For example, the banks are bound to start online payments for their customers and are not willing to invest funds in developing your own system.

White Label Banking Platform: What for and How to Choose

• Ready-to-use payment aggregator in order to quickly start your e-payment business.
• Fully brand the solution under your brand and design.
• Implementation of connections with various payment systems and banks.
• Technical support, staff training.
• Flexible conditions of payment.

Our payment aggregator will be suitable for online shops, online services, mobile apps, fin-tech startups, etc.

We guarantee reliability, security, and high quality of our services. Besides, our pricing policy provides flexible tariff plans dependent on the volume of transactions. This allows our clients to reduce the cost of the payment services provided. We provide training and support in ensuring that the platforms are put to effective use and guarantee their safety and security.

White Label Banking for the payment service may be a good choice for those who would like to develop their business in the sphere of electronic payments and who don’t want to develop their own payment service from scratch.

If you want to develop your payment service with the help of this solution, then leave an application on the website and our manager will contact you in the shortest time to discuss the conditions of cooperation. Take the chance to get your payment service online in a snap!

White-label digital bank

The term “White Label” has recently gained great popularity in the world of FinTech, especially within digital banking. White Label allows companies to offer banking services under their brand using a ready-made platform developed by a third-party service provider. This significantly reduces the time and capital costs that would otherwise be spent on the development of your proprietary system and accelerates the process for taking a product to market.

Key Benefits of White Label Digital Banking Solutions

• Reduction of Development Costs and Time

Developing one’s own banking platform needs high investment and takes a lot of time. White Label solutions give the company a chance to use already developed and well-established technological solutions right away, which cuts the initial costs drastically and accelerates the process of launching services.

• Focus on Customer Service and Branding

With the White Label platform, companies can devote more time to customer service, marketing, and branding, which means the product will better meet the needs and expectations of the target audience.

• Compliance with Regulatory Requirements

The banking industry is among the most regulated. In many cases, White Label solutions already come with built-in regulatory compliance support, thus allowing easy compliance with both local and international legislation.

How White Label Digital Banks Work

Selection of Supplier

The first step that a company must undertake when it intends to use a White Label solution is to identify a trustworthy supplier who can deliver a platform that could be tailored to meet the requirements and branding of the client.

Integration and Customisation

Selection of a vendor is followed by the integration and customization of the platform. The interfacing design is customized and unique features added with necessary services.

Testing and start-up Before the product is let into the market, testing should be done for the elimination of all sorts of bugs. This will be a very critical stage that could avoid the problems in the future.

Support and Updates In most cases, a White Label solution provider provides all technical support required and regular updates for the platform, keeping it up to date with changes in legislation and market trends.

White Label digital banks open new avenues for companies seeking to enter the financial sector with a minimum of fuss and in the shortest time possible. From end-to-end solutions that can be scaled up and tailored to meet the needs of any business, technologically advanced banking services are made fairly easily available for both businesses and organizations across the broad spectrum.

White label crypto bank

White Label cryptocurrency banks represent online platforms that allow companies to establish their own cryptocurrency banking phenomena under their brand using already developed infrastructure and third-party technology in record time and in an effective way. This solution works for any financial institutions, fintech startups, and other companies willing to extend their portfolio of services without developing complex software of their own.

Key Benefits of White Label Cryptocurrency Banks

• Quick and Affordable Launch

Building up your cryptocurrency banking platform from scratch means great losses of time and finances. By using a White Label solution, you will save lots regarding initial investments and accelerate time to market for the product since the basic infrastructure with software has already been developed and optimized.

• Compliance with the regulatory standards

The market for cryptocurrency is very strictly regulated and continues to change. Most of the solutions offered by White Label cryptocurrency providers are normally already compliant with present regulatory requirements, hence making the task of compliance by clients easier.

• Technical support and maintenance

With White Label solutions, clients get ongoing technical support and updates of the software, which means stability of services and their applicability in correspondence with the latest technological shifts and changes in legislation.

White Label Work at Cryptobank

Selection of a Supplier

It means selecting a reliable White Label cryptocurrency provider able to provide a flexible scalable solution based on business specifics and needs.

Branding and Customization

After the contract comes the platform customization phase, which includes corporate identity, logos, and other branding elements. This is very important since it gives added value to a unique user experience and also strengthens the brand identity of the company.

Integration and launch

The integration stage involves tailoring the platform to work with the client’s other systems and services. Once the system is tested and verified to work and be secure, it is considered ready to go live.

Marketing and customer acquisition

Immediately after launching the project, work will begin on attracting customers, which involves marketing and advertising for better publicity of the new service and capturing the target group.

White Label Cryptobank is one of the powerful tools of companies that plan further development and expansion of their online financial services. Such a solution will save resources and promptly respond to changes in market conditions, offering customers innovative, reliable cryptocurrency services under their own brand.

How to start own Neobank

Neobanks, or digital banks in other words, are the most rapidly developing parts of financial technology nowadays. The purpose of neobanks is to provide users with easy, inexpensive, and innovative banking services through fully digital channels with no physical branches. Your own neobank will take some time to build, requires a close look at legislation issues, and demands a high level of technology integration. Below are the main steps of launching a neobank.

A neobank is one complicated project, which at its foundation, realization, and development requires serious work, ideas, and efforts at all stages. However, if all the conditions are satisfied, and everything is approached correctly, the neobank will be given the opportunity to become a prospective and profitable business-an innovative financial service for modern consumers.

Understanding White Label Banking

So, what exactly is white label banking? In simple terms, it’s a service where a financial institution provides banking services under its own brand name, but the underlying infrastructure and technology are supplied by a third-party provider. Essentially, it’s like having your own branded banking platform without the hassle of building and maintaining the infrastructure from scratch.

Regulatory Compliance and Risk Management

In the highly regulated financial services industry, compliance with regulatory requirements and robust risk management practices are non-negotiable. When partnering with a white label provider, financial institutions must ensure that their chosen partner adheres to all relevant regulations and industry standards.

White label partners typically have extensive experience in navigating regulatory frameworks and implementing best practices for data security, privacy, and compliance. By outsourcing these responsibilities to a trusted partner, financial institutions can mitigate regulatory risks and focus on their core competencies of serving their customers and growing their business.

The product provides access to all IT and payment infrastructure, re-branded with your logo design.

Banking as a Service project consists of:

• Designing the remote services (online and mobile banking) with your logo, your URL, your mobile application in Google Play and App Store.
• Programming the tailor-made tariffs to automatically charge the end-clients.
• Customization of compliance approach and on-boarding policy upon your project.
• API Integration on your website to receive private and corporate application forms for account opening.
• White-label solution requires only Sales/Marketing department to support the business.
• All the rest of the business aspects, such as Client On-boarding, Compliance, Payments, Technical Support are handled by Satchel from the point the account opening forms are received.

The process:

• You will have minimum fees charged.
• You will be able to add your margin and create a tariff plan to end-customers of your choice.
• The margin added on top of the minim fee list will be shared 50/50 and paid to you in live mode.

Regulated United Europe is able to offer:

The whitelabel approximate setup

• Design of remote services (web and mobile banking);
• Mobile application in Google Play and AppStore;
• Tailor made tariffs to charge end clients automatically
• Private and corporate application forms for account opening;

Monthly maintenance fees

• Possibility to add mark-up of your choice for the end-customers;
• The mark-up is shared 50/50 and paid to your commissions account instantly

Card Setup

• Unlimited number of cards with increased spending limits.
•  Issuance fee
• Monthly fee
• Card loading fee
• Shipping fee

Card monthly fee 

Account maintenance, support and program management, including the following services:

• Card transactions monitoring;
• 2nd line support;
•  Full-time account manager;
•  Fraud, risk and AML monitoring;
•  Mastercard annual registration (split monthly);
• Regular system updates & accounts reporting;

Technical Integration

• API connection with your website to submit account, opening forms
• Redesigning and registration of your mobile app in AppStore and Google Play (mobile banking)
• Redesigning of online banking according to your corporate style
• Setting your tailor- made tariffs for future clients
• Development of additional functionality required for your business model

Contact Regulated United Europe for an individual offer based on your project.