The Secret Ingredient to White Label: the iFX panel discussion roundup

Author: Anastasia Taganova

A couple of weeks back, the TFB team attended the iFX Expo in Limassol, which was as insightful as always. As part of the event, we were able to join other experts on a panel discussion centered around the White Label.

Today, we will review the main highlights and key ideas shared during the panel.

Why would well-established brands even consider White Label services?

From the public’s perspective, White Label (WL) solutions are often reserved for newbies in the market. Someone who doesn’t yet have a strong brand, a client base, and often no technical expertise. However, this is far from the truth.

Many TFB clients, and companies, in general, choose to go with WL to shorten their time to market while not breaking the bank or allocating their internal resources (such as employees’ time) to the new project. Experienced companies also work with WL for proof-of-concept (POC) purposes. After trialing the model via WL, they can make an informed decision about further investments in the platform and the overall business model.

From our experience at TFB, more often than not, it’s the simplicity and the straightforwardness of the WL solution that encourages companies with resources and expertise to take this route. With WL, everything is taken care of. There is one ready-made solution that works from day one. On top of that, you get professional 24/7 support, so there is an added layer of security and protection.

The hidden costs of running a WL solution

Like everything in life, WLs are not 100% perfect and they are not risk-proof.

There are several hidden costs that you might face when implementing a WL solution:

  • Potential risk of WL termination due to traders’ complaints. It’s easier to discuss issues with a licensee provider directly, rather than through the WL provider.
  • The cost of force majeure. Nobody is immune to disasters, but it would still be better to team up with a WL provider because they have a team of professionals to back them up. Who wouldn't want that kind of partner when unprecedented events happen?

White Label and customisation

White Label solutions are ready-made. They consist of many components carefully tested and assembled by the WL provider. For brokers, this means that there is a limit on how much customisation they can expect with WL solutions.

Yet, you shouldn’t think that WL = no customisation.

In fact, many providers allow and encourage:

  • Your own branding and design, such as logo, colours, and branded apps.
  • Extra functionality and features that can be added depending on your partner.

All changes and upgrades on the WL platform must be carefully researched and approved. The reason for this is simple. While every client has their own resources and storage space, there are some things they share. It means that if one broker makes an unauthorised change to their environment, it has the potential to affect every client of the WL partner. That’s why all WL providers are extra careful and might not approve certain changes/enhancements for individual clients.

As for the integration aspect of the WL, it’s a common practice to allow brokers to integrate WL solutions into their existing environments, for example, with a CRM system, but the integration of third-party tools is rarely approved for the reasons discussed above.  

The latest trends in the White Label world

One of the topics of the panel discussion was, naturally, the latest trends in White Label. Here is our takeaway from this conversation:

  • Multiplatformism – working with multiple platforms simultaneously is no longer the exception, it is the norm.
  • More companies are starting to have a “proper” setup for their operations, such as physical offices that are used by employees, corporate bank accounts, and FX licenses. This move is influenced by advancing regulations but also the changing market demands where end-users are much more knowledgeable about the processes and want to see proof that their partner is trustworthy and reliable.
  • White Label is treated much more seriously than it used to be in the industry. It’s no longer a small project but a scalable business model that has the potential to generate large volumes and profits. More market players realise this now.
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