CEO at Relevant

Your Definitive Guide to White Label Solutions for Fintech and Banking Services


Developing fintech applications or software from scratch can be complex and overwhelming, especially for a company getting into the financial market for the first time. To afford these sophisticated solutions without breaking the bank, most financial institutions implement white-label software development.

For the uninitiated, white label software basically refers to software a fintech company purchases from a service provider and then will rebrand it as its own. White labeling is a simple solution to an expensive problem. It enables fintech companies to outsource financial applications to get into the market faster, save time, resources and maintain their relevance in a highly competitive market. 

How we built a white-label fintech product

Recently, Relevant helped FirstHomeCoach, a UK-based Fintech company, develop an application that helps home buyers navigate the complex process of homebuying quickly and efficiently. Our team designed the app’s security and structure and set the system and its algorithms from scratch to help the fintech company provide a reliable product to potential homebuyers. FirstHomeCoach also sells its products as a white-label to companies like Virgin Money.

Read the case study

A glimpse into white labeling and fintech today

Looking at the e-commerce and banking sector today, it’s safe to say white label solutions (also referred to as private label solutions) are a highly beneficial strategy. As these industries become more open to partnerships with third parties it has become easier to save both time and resources when deploying new solutions. 

Fintech companies need reliable tools and applications to deploy their financial services. According to the FinTech State of the Nation report, the number of fintech companies in the UK is expected to double up by 2030, which means that white label partnerships are more likely to increase as well. A good example would be Relevant, a fintech software development company that provides white label development services for fintech companies whether they deliver wealth management, P2P lending, custom payroll software tools, or banking services.

Finding the right partner with extensive experience in fintech is usually tricky. So what sets Relevant apart? First off is an impeccable technology stack that enables the developer team to produce scalable, secure and fast apps deployed to the cloud. Nowadays, higher performance and reliable uptimes are often tied to cloud resources. Why not give your brand the upper hand in this regard? Relevant uses Angular, Python, Node.js, React Native and more languages to deliver solutions over AWS, Kubernetes, Docker, and more.

A white label partnership shifts the technical aspects of development, UX/UI design, analytic algorithms, and cybersecurity off a company’s plate. With that, the firm can throw itself into other administrative and strategic tasks. It’s a perfect combination of the brains and the brawn.

Fintech startups and banking service providers will sooner or later have to ask the “build or buy” question. Read on to find out more on white label software development for fintech and other financial services. Discover where your focus should be to come up with a usable and successful white label product. 

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What is a white-label platform?

A white-label platform is software provided by a white label provider unbranded to a reseller. The reseller then integrates their branding and then sells access to the application as if they developed it. White labeling allows fintech companies to configure and rebrand existing financial applications by outsourcing them from a white label provider specializing in fintech software development services. In this case, the fintech company allows the selling company to integrate the final service or product into their company and make it look like they created the final application themself. How does that apply to the financial industry?

In the modern world, banking as a service and open banking is increasingly becoming popular. White label banking enables fintech companies to provide online financial services using products from white label providers. For instance, a fintech company can adopt existing APIs (application program interface) from a white label provider or a bank as the foundation for selling their financial services. In simple words, instead of building a financial product from scratch, the fintech company can use existing applications to put together their final branded financial product.

So what problem does white labeling solve? Well, not everyone starts off their fintech project with a big budget for product development. To save on costs, resources and cut short on time to launch, a white label product will be a quick and painless solution.

How does white labeling differ from other partnership arrangements?

White labeling for fintech is only one of the different options you have when looking for a strategic partnership. Other options include:

Affiliate relationships – also known as an introducer, related brands recommend your company. For instance, as a fintech company, you can enter into affiliate relationships with accountants, solicitors, or IFAs who then introduce your product to the end-user. Introducers help your company access a new market easily, but they can also leave your company vulnerable due to their demands. You may end up constantly trying to please your introducers rather than your end users/customers.

Co-branding – this creates a marketing and advertising relationship between two brands. For example, Apple and Master Pay co-branded to make Apple Pay. One brand’s success positively impacts the other, and they work collaboratively to ensure the final product’s success.

Outsourcing – here, one company delegates a project and its responsibilities to another. In simple words, hiring another company to implement the functions of your business. It mainly works for short-term projects. Opting for Ukraine outsourcing, a popular, affordable IT hub is quite common. 

White label banking services

Buying ready-made software for rebranding has become a viable strategy for many fresh startups in finance. Even traditional banks are going down this route as they step into the digital age where everything is becoming paperless and online. Here’s a rundown of banking services white label providers commonly cater for in financial app development:

Common white label banking services

Client onboarding – when a client signs up for your services, they go through an onboarding process that gets all the critical information necessary for creating their account.

Savings and checking accounts – white label partnership can help you offer services of managing clients’ checking and savings accounts.

Virtual card issuance – with a private label banking integration, you can issue debit and credit cards to users virtually.

Simplified bill payments – white label banking can help you deliver easy and convenient bill payment processes.

Online payments bill transfer systems – a user can transfer the money owed to the biller in a seamless transaction.

Personal loans – this offers several features to help users manage their money and access personal loans in less complicated processes.

Deposits and withdrawals – you can build a fintech white-label software that facilitates depositing and withdrawal of funds since that applies to most fintech services.

Mortgages – if you want to provide a functional digital mortgage software for users, whether a mortgage calculator or a way to apply for a mortgage online, a custom fintech white label software can help you deliver a user-friendly product.

Insurance – a white label banking solution can help you provide users with insurance quotes. The application takes the user’s information and gives the quotes to help determine a suitable insurance policy.

Bank statements with transaction details – a user can access their bank statement with withdrawals, deposit charges details, and the beginning and ending balance of a specific period.

Balance notifications – a user can request notification alerts for bank balances to avoid overspending.

White label in fintech: 5 examples

Fintech white label app development has brought about several successful solutions serving the market today. Here’s a look into some of the most notable examples for white labeling for fintech: 

  • Revolut – this is an app by a UK-based financial technology company that enables users to monitor their spending and facilitates international transfers.
  • Qapital – it is a finance manager app that simplifies financial management with features such as automated savings, spending tracker, personalized investment recommendations, etc.
  • Digit – this app helps users build up their savings account by automatically depositing whatever savings they can afford.
  • Chime – with this app, a user can begin spending their paycheck before receiving it, and it helps them avoid overdraft fees when they are in a critical financial spot.
  • Techracers – this blockchain white label solution by Techracers facilitates seamless growth for startups and businesses.

What makes white label fintech projects successful?

Following in the footsteps of other fintech giants requires a great deal of planning. For a successful white label project, here is a checklist to follow for white label mobile banking app development:


Ensure that your developer can build a fully themeable app that you can white label by yourself. Every aspect of the app should be easy to modify to fit your brand.


In the white label app and software development process, discussions and agreements on what is to be added and what to leave out depending on the budget and available timeline are necessary.


Know your target audience first and find a niche with less strong competitors. Be consistent in marketing and communication to allow your product to reach far and wide.

Development costs

It is vital to have a clear idea about the current white-label mobile banking app development costs. Be clear about your budget and discuss with your development team about the costs to know of the perks you will experience if you decide to spend more.


When you are ready to build a white label fintech platform, ensure you consider all the aspects of its development and how it will impact your business for seamless integration.


Ensure you know the APIs to be deployed with the initial product and who will implement a future integration if need be.


Security is a key part of any software solution which you should never underestimate. Understand the security issues associated with using the software and the extent of the software usage. This is where fintech app security solutions come in.


Usually, the developer can set up a support system that users can use to highlight issues. You should be shown how to look into the user’s account and troubleshoot any problems. The support program can be renewed, allowing you to help solve client problems continually.

Reselling complexities

Discuss the options of reselling or sharing the royalties of the product with your developer. Determine the best choice between selling the product or sharing on a subscription basis.


Have a clear plan on who will license the software and sell it. You have an option to hire a company to sell the product on a commission or compensation basis.


Price the software reasonably to avoid incurring losses. Consider marketing costs as well.

As a dream white label provider, you need to:

  • Deliver a reliable product that matches your partner’s needs.
  • Use an innovative approach and look into ways you can enhance your partner’s product.
  • Establish sound methods and reliable systems to create a good reputation and trading history.
  • Provide reliable support for your partner to help them monitor client’s issues and troubleshoot problems.
  • Provide a transparent agreement with a minimum lock-in timeline that stipulates the standard fees.
  • Allow your potential partners to test the product beforehand. That allows them to understand how the product will help their customers.
a dream white label provider


With the myths and mysteries of how fintech companies are getting their solutions out to customers in record time now in the open, it’s time to act. White label software helps save time, money and keeps companies focused on their core business rather than the technology itself.

Considering the fintech industry requires highly reliable and yet sophisticated tools, white labeling is certainly the best way to go for most fintech companies. In need of dedicated software development teams? Contact Relevant for a free consultation.

Written by
Andrew Burak
CEO at Relevant
My company has helped hundreds of companies scale engineering teams and build software products from scratch. Let's connect.

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