Some examples of mobile banking apps built with white label features include:Īcross industries, digital technologies are democratizing information to spur more competition and innovation. Like what you’re reading? Click here to learn more about Insider Intelligence’s leading Financial Services research. Bank statements with transaction details.Private label financial services enable fintechs and third parties to showcase a sleek, company-branded frontend, while leveraging an established bank’s license, regulatory compliance, and technology on the backend to offer core banking features that rival major institutions’.Ĭommon white label banking services include: White label banking accelerates the builder’s go-to-market strategy by removing regulatory, legal, and technical obstacles. White label banking is another term for private label financial services or banking-as-a-service (BaaS), in which banks open up their application program interfaces (APIs) to let third parties build their own financial products with existing infrastructure. Here’s a look inside how private labeling is transforming the banking industry- and which products are on the rise. Businesses looking to develop new offerings and product functionalities can now easily outsource entire technology stacks and tedious regulatory administration.Īs tech giants like Apple, Amazon, and Google deepen their financial services plays, banking and personal finance tools have become a prime opportunity for fintechs and smaller firms to leverage private labeling to compete, and for established players to unlock new revenue streams. By outsourcing the entire process and leaving those details to the experts, sellers can instead focus on what they excel at: branding and marketing the finished product.īecause the benefits of this strategy are so multifaceted, it’s no wonder private labeling is moving beyond consumer goods and gaining traction in service-based industries. Possibly the biggest benefit of private labels, however, is that they eliminate the pains of having to design and build a new product - especially when entering a new market. Retailers who implement this strategy also maintain wholesale control of the brand, including packaging and pricing, which generates product exclusivity as well as promotes customer recognition of and loyalty to the brand. The cost to manufacture is often much lower than reselling another brand name, resulting in higher margins and increased revenue for sellers. Private labeling has long been a pervasive strategy in retail, where products are made by third party manufacturers and sold under a retailer’s name. Do you work in the Financial Services industry? Get business insights on the latest tech innovations, market trends, and your competitors with data-driven research.

Here’s a look inside how private labeling is transforming the banking industry.

White label banking is another term for private label financial services or banking-as-a-service ( BaaS).

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