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Whitelabel Neobanking Platform
The modern banking world is advancing at a rapid rate, and consumers are getting smarter. The future of banking is white label financial services, and there are many companies who are actually giving their 100% to provide a top-tier white label neobank fintech platform.
White label fintech development services will refer automatically to modern aged financial services through the use of online banking services that will provide the exact same services a physical bank would provide. And through a white label neo banking platform, fintech companies can save up a lot of money that would generally be invested in building the platform from scratch.
Are you a banker looking for a way to invest in white label neo banking platform? Then you are at the right place and at the right time. Hyperlocal Cloud has been developing fintech apps for some time now. With an experience of 13+ years in the app development industry, we are ready to guide you at every possible step.
To understand the concept of white label neo banking platform development better, let us go into the depths of this blog.
What Is A White Label Neo Banking Platform?
A white label neo banking platform is the type of financial institution that will provide the payment platform to other companies by offering their specific banking services. This app acts like a technology partner and offers the same banking services as any other banking platform would but under a specific brand name. To explain in a simplified manner, a white label neo bank will provide a turnkey solution for firms that aim to look for investing in financial services.
Most of the companies which use the white label neo banking platform are often non-financial institutions or startups that are looking to expand their offerings.
Importance Of White Label Neo Banking Platform
A white label neo banking platform has become a handy tool for the millennials and GenZ in recent years. These fintech institutions are boosting their brand awareness and working on offering sustainable and innovative banking ideas. Through the help of a white label neo banking platform development, they can provide banking services that are structured with the latest tech stack. This allows the customers to leverage the latest modern ways to invest without actually standing in long queues at traditional banks. Fintech owners can also differentiate themselves from other banking owners by customizing their platforms as per the specific business requirements.
Smart, Reliable White Label Neo Banking Platform
Top Notch Features of White Label Neo Banking Platform
The features of a white label neo banking platform are what make it a billion-dollar industry. With payments processed within a few seconds, the neo bank comes up with a simple design but highly complex and useful features.
Easy-to-Use Design And Navigation
The key to using the white label neo bank platform is to leverage the user-friendly app design and navigation for simplified payments. The quality of the app will depend on what the app developers use as their preferred tech stack. An app development company like Hyperlocal Cloud will use the latest tech stack and tools to provide a fintech app with the best UI/UX interface.
Instant Account Opening And Log In
The white label neo banking platform developed by Hyperlocal Cloud will enable users to access services within a few seconds, like the log-in feature. Through the standard login process, customers can easily apply for services, including loans and other investment options.
Biometric security
With the white label neo bank platform comes the feature of biometric security. The user will have the option of face ID verification to prevent unauthorized access to their white label neo bank platform. It is highly important to choose the right fintech app development team to ensure the security features are added with utmost concern.
Seamless Peer-To-Peer Payment
White label neo banking apps are highly smooth and involve a person-to-person payment interface which will evade the involvement of third parties to steal their commission share. The white label neo banking platform will provide the feature to save card details to make the payments to friends and family easier, and NFC tap payments to allow customers to fill in the card details automatically.
Automation And Saving Suggestions
The white label neo banking platform will have the power of automation, which will offer a completely straightforward banking experience. The automated savings tools will also enable the users to know their revenue-generating opportunities and offer investment suggestions to the users. Along with that, it will also provide some financial education to help them save up on their expenses.
High Customization Options
The neo banking platform app will have a huge room for customization and give you the exact solutions as per your business needs. Also, with the rising pace of sustainability and innovation, Hyperlocal Cloud can be your actual place for smart solutions.
API Integrations
The white label neo banking platform will have the power to handle almost all types of integrations in the customer's banking systems. The fintech app development team should also ensure that their future users can also understand the functionalities and make the neo-banking experience great for the users.
Advantages of White Label Neo Banking Platform
The white label neo banking platform is the neobank that is surely going to be cost-effective and, when compared to the traditional bank, will cover up a lot of aspects and the labour costs like the physical banks. To understand better, let us go through the advantages,
Low Cost
Another major benefit of the neobank is the cost efficiency of the investments made by the customers than the ones made by traditional banks. With the absence of physical branches, a lot of cost is saved. Customers don't have to travel and wait for the services, but they can actually use their smartphones to use the services from anywhere around the globe.
Neobanks have more advantages with the absence of credit risks and fewer regulations; they are highly cost-effective.
High Convenience
Neobanks are highly convenient for both the fintech owner and the customers. Through a white label fintech banking platform like a neo bank, one can verify customers through a blockchain-powered verification system. Other than that, owners can provide a wide range of benefits and schemes to the customers. And to access them, customers can simply use their fintech app.
Almost all issues are resolved in less time through the convenience of the neobank.
Customer Experience
The neobanks are highly dependent on their modern designs and simplicity than the heavy paperwork of the traditional institutions and provide a tremendous UI/UX experience to the users. Their main aim is to be an easy-to-use app and make banking services simpler and faster. And this leads to user-friendliness being the main USP.
Smart Reporting
The neo-banks have proved to be a smart mode for reporting and providing an updated account balance view every time the user opens it. With this, your customers can easily see every single detail of their prior transactions directly from a few taps. The smart reporting of a white label neo banking platform will enable the users to make highly insight-driven decisions.
Time Efficiency
Neobanks are highly time efficient, and they easily beat traditional banking services with their smart features accessible to customers in a matter of seconds. The payments made in a white label neo banking platform are also fast and reliable and are processed within some seconds.
Easy International Payments
The neobank will make international payments better and faster than the ones processed through traditional banking. To access international payments, the users must request an upgrade of their debit card to an international one. But if the user has an account with the neobank, they can easily process international payments.
Simpler And Faster White Label Neo Banking Platform Development
Businesses Who Can Benefit From The White Label Neo Banking Platform App
White label neo bank platform apps will have a variety of benefits right from startups to the enterprises. Let us have a look at some of the benefits below:
Fintech Startups
The fintech startups are benefitting from the white label neo banking platform development recently by becoming a brand. Fintech Startups can leverage the banking app and rebrand it as per their business needs and requirements.
Small And Medium-Sized Businesses
Small and medium-sized businesses will offer banking services to customers, and they benefit a lot from white label neo bank solutions like the absence of physical branches will save their costs and time.
Non-Bank Financial Institutions
Nonbanking financial institutions like remittance companies and mobile wallet providers will benefit a lot from our white label neo banking platform through its high-end banking services complementing the existing offerings.
E-Commerce Platforms
The E-commerce platforms will offer an exceptional shopping experience to the shoppers via a white label neo bank platform developed by Hyperlocal Cloud. They can offer payment modes and other banking services directly through the neo bank platform that we develop for them.
Insurance Companies
The insurance companies will utilize the white label neo bank platform for offering premium insurance services and collections to their esteemed customers.
White Label Neo Banking Platform: Cost Affecting Factors
There are a lot of factors that influence the cost of the white label neo bank platform. From the company size to the number of resources, the cost can rely on multiple factors; here are some of them:
The Location Of The Company You Hire
The location of the Neobank Development Company will affect the overall budget and the hourly rate of the employees of that particular company. Let us understand this in the table given below:
| The Geographical Area | Development Cost |
| UAE | $60-$65 |
| US (Hyperlocal Cloud) | $25-$49 |
| Western Europe | $80-$90 |
| Eastern Europe | $50-$55 |
| Australia | $70-$90 |
The Complexity Of The App
The complexity of the app is also an important cost driving factor which will affect the development budget. Let us have a look at the table below to understand better.
| Neo Bank Complexity | Cost Range | Time Frame |
| Simple Neo Bank | $40,000 to $60,000 | 3 to 6 months |
| Moderate Neo Bank | $60,000 to $100,000 | 6 to 8 months |
| Highly Complex Neo Bank | $100,000 to $250,000 | 9+ months |
Final Thoughts
A white label neo bank platform will have cost-effective business solutions for companies who are looking to enter the Fintech sector. The solutions offered will have multiple benefits, especially for the startups, and give them a permanent infrastructure altogether.
To achieve remarkable heights of success, one has to invest time and money in the right white label neo banking platform development company like Hyperlocal Cloud.
Take Your Fintech Business To The Next Level Through Our Services
Why Select Hyperlocal Cloud For A White Label Neo Banking Platform Development?
With a team size of more than 250+ dedicated app developers, Hyperlocal Cloud will surely aid businesses, both small and large scale, in attaining a benchmark in the fintech industry.
Our team will first conduct heavy research as per your business requirements and then start the development process.
Quality Over Quantity
Hyperlocal Cloud believes in quality work; we ensure that the app we provide is of top-notch quality and has all it takes to become a market-leading product. You can visit our website and get to know more about the products and services we offer.
100+ App Delivered
We have successfully delivered more than a hundred products in the market and helped our clients attain a constant revenue flow. To know more, read our client's testimonials on our website.
Effective Front-End/Back End Coding
Hyperlocal Cloud has the best app developers who are devoted to providing a smooth app experience to the clients.
On-Time Product Delivery
Hyperlocal Cloud assures all the clients that their products will be delivered on time with all the necessary features. We remove all bugs and provide a smooth app.
Timely Updates
Hyperlocal Cloud will provide you with separate teams for your product development. We will continuously update you with the app development stages.
Guaranteed ROIs
Our product is made effortlessly and provides a constant revenue flow to the users and a guaranteed ROI at all costs.
Contact us to begin your white label neo bank platform journey! We have all it takes to help you reach the competitive edge through an exceptional app.
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