Invisible Help: Why Choose White Label Software Solutions for the Fintech Sphere

Choosing solutions for a fintech business is a complex process that involves cybersecurity, legal compliance, and customization to the needs of the partner. In fintech, there is a category of solutions designed to relieve business owners of their problems and give them the tools to meet their financial needs in a short period of time. We are talking about white label software solutions that are moving the entire industry toward a more convenient and niche implementation of services.

What is a white label solution?

In a general sense, a white label is a type of partnership in which one company produces goods or services and another sells them under its brand.

White label software is a category of off-the-shelf products or solutions that are delivered unbranded to customers. Buyers brand the software as they see fit and then make the platform’s functionality available to end users.

Speaking about fintech sphere, implementation of software for an exchange or brokerage service using white label solution is beneficial for all parties involved. The developer gets more clients for the product he has already created, a business with a cost-effective ready-made cryptocurrency exchange solution can offer its clients requested services, and the end client benefits from the software created by experienced developers.

Who benefits from white label software solutions

• New projects that require a quick entrance to the market.

(There are a lot of young players in the cryptocurrency market who have their own concept of development and vision of where the industry will develop, but they do not want to spend time and resources to develop their own white label software for cryptocurrency exchanges.)

• Companies that need to replace their existing solution.

(It is not uncommon for an existing solution to stop meeting the needs of a business as it expands and grows. The problem is that in fintech, switching to a new solution, even if it is the best on the market, can be extremely painful and resource-intensive, so you need to find a provider that makes this process as seamless as possible.)

• Companies that need to diversify their software tools to attract new customers.

(The field of financial technology is constantly evolving, and over time, new software tools make categories of customers that were previously inaccessible available. In this case, white label software can come in handy to help quickly bring a new service to market, provided that the business has the support of a reliable provider.)

The benefits of white label software solutions

Reduced initial investment

Due to the absence of costs on own staff of developers such software solutions help to save significant funds at the initial stage. Such savings are beneficial for any type of company, but especially for startups whose budgets are often very limited.

Fast time to market

After the development phase, the software still needs to be tested, and these stages alone can easily take you a year.

In the case of an off-the-shelf software solution, time to market may be limited to a couple of months.

Maintenance follow-up

Reliable white label software developers provide support and upgrade solutions and products after launch on the client’s platform. This eliminates the need for the customer to spend resources to maintain the purchased technology throughout the entire term of the partnership.

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