While trading software in itself can be valuable, sometimes marketing can add another dimension of value, or even find entry points into previously untapped markets. Therefore, white label trading software are by many applauded as being the next big thing for developers as well as traders in the foreseeable future.
Plenty of banks, investment companies, trading groups and other institutions already have a large number of clients and customers, and so are keen for them to stay in that particular company’s own sphere of influence, rather than referring to external providers and third party software.
When white label is preferable
This is where white label shines, as the term indicates, it is possible for anyone to customize the look and feel of the trading platform, adding your own company logo and changing settings to best suit your users, while still having a powerful engine that is built and maintained by experts, at a fraction of the cost it would otherwise cost.
This segmenting of responsibility benefits everyone involved. By specializing in attracting customers for the trading platform, your business can create value where you know how, and the developers can focus on maintaining updates and securing the future editions with valuable insight and reports from your customers.
The best result is always created by solid cooperation, where both parties use their respective competencies to create the best possible result.
A few words about white-label and co-branding in general
Normally a White-label partnership means that your customers don’t know about the original creator of the product or software at all. In other words, they are a subcontractor and are invisible to the end-users from start to finish.
This leaves you to control the entire dialogue with your customer, including requirements analysis, project planning and economy.
In addition to being responsible for technical implementation, the white label supplier can also participate in sales and development meetings with the customer to find the right solution. Of course this varies with each type of company and supplier, but often you will find a very flexible response when you contact the white label originators, as they are keen to learn from feedback and real life interactions to improve their product.
It is important that there are clear lines about who is in charge of what with any serious endeavor, this also ensures that the customer knows who to talk to about what and that the need for both supplier parties appears more clearly. So make sure you have the paperwork in order when going in for this lucrative and interesting new business model!