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Own software or White Label?

Your company is going to launch a financial platform in some direction. In addition to the license, you will also need software. What options are available to you?

Option 1. Develop your software

You can start developing your software. Let's say you have assembled a team of a technical director, 5 Senior programmers, 2 testers and a system administrator.

The salary fund of such a team will be approximately 40 thousand euros per month. It will take about 6-12 months for such a team to develop your platform.

When the platform is created, you will be able to apply for a license by submitting the documents together with the technical documentation. It will take you from 3 to 12 months to get a license, depending on the direction of your business.

During the period while you will receive a license and after the launch of the product, you will have to continue to maintain the IT department, because someone will have to fix technical problems and add new fitches.

In the end, your company will spend from 240 to 480 thousand euros to create a platform, and then it will spend the same amount annually on the maintenance of the IT team.

All this will happen against the background of significant costs for obtaining a license, marketing, legal support, hiring employees for other departments. Your unit economy risks being negative for a long time and the IT department will make a big contribution to this.

Option 2. Buy ready-made software

Let's say you decide to buy someone else's ready-made software, apply for a license, and start hiring your IT department gradually after the start.

The problem is that there are not so many buyers of such software on the market, and the software manufacturer must initially incur the costs described in the first option.

At the same time, each software manufacturer spends a significant share of sales on marketing, which will attract you and other similar customers.

As a result, the price tag for the software starts from 170 thousand euros and above. But that's not all. You need to customize the project for your design and business logic. You will need to redo databases, interfaces, APIs, etc.

You will be given just an hourly rate, and the cost of each job will be calculated separately. You do not control how many hours are required for a particular task. The final cost may increase significantly as a result.

What will you get in the end? You will receive a non-exclusive license for the platform without the right to resell it. The question remains open: will you be able to get a license with this software? You will find out the answer to it only after reviewing the documents by the regulatory body. If you manage to get a license, you will have marketing and IT costs again.

Option 3. Use a White Label SaaS solution

This is the previous version, only you do not buy the software but rent it. It is more profitable economically since the start costs are significantly lower.

Problems may arise later. Similar companies earn as your project grows. The check issued to you will increase monthly along with the growth of your business.

Let's say your business will have significant revenues in a year or two and you want to stop depending on other people's servers, software, and employees.

Most likely, it is at this moment that a surprise will be waiting for you because it will not be possible technically. The developer company is not interested in you leaving the number of customers. It is more profitable for her that you continue to pay. Therefore, no one will give you access to the program code and database.

This position of the developer can be understood because it creates technical risks and reduces revenue. Technical risks lie in the fact that if a customer has received a program code, he may start using it uncontrollably and reselling it. It is technically very difficult to detect such illegal use. But the worst thing is that an unscrupulous customer can conduct a study of the program code for vulnerabilities. Having discovered such vulnerabilities, all sites running on a similar software solution can be hacked.

Option 4. Our solution for your business

On the one hand, we offer you ready-made software customized to your business logic and designed in your design. We will immediately provide you with the documentation for applying for a license.

On the other hand, unlike most competitors, we give you more freedom of action. Your employees will have access to the program code of the website, the investor's office, and the back-office, as well as access to the project database. At the same time, the project architecture will protect you from hacking or code theft.

The setup fee and the monthly fee depends on the selected modules. The cost of the installation starts from 5000 euros once, and the monthly fee starts from 1000 euros per month.

After the launch and marketing, your business will grow. When you have enough resources, at any time you can buy a perpetual non-exclusive license or transfer the project to your program code.

Our solution saves you money and time at the start, helps you grow, and then allows you to go your way without depending on us.