White Labelling - taking the fast track to capturing new business opportunities in FX >>>
slippage control, marketing platforms and measuring and optimisation of internet traffic.”
On what key features and functionality clients should look for within the frames of White Label programmes for FX markets, Bak says: “A comprehensive and ever expanding multi-asset offering is crucial. As is constant innovation and investments in cutting edge technology. Saxo Bank is now introducing contract options to trade volatile markets and the next generation mobile trading platform that enhances user experience. Furthermore, customer administration devices, advance reporting mechanisms and risk management tools can help to set up the system and monitor clients in an easy fashion.”
Bak remarks: “At Saxo Bank we are not just offering an online trading platform, but all the support the client needs across the entire business value chain. Without this support, or if some tools are missing, a White Label project can turn into a challenging exercise.”
Relationship management
Melia says that relationship management is vital: “Launching a White Label requires planning, organisational and management skills, so the quality and experience of the sales managers and relationship managers play a vital role in the success of any launch. It can be easy for institutional sales managers to over- promise during the sales process, so working with a sales manager who is competent, honest and clear is as important as the project management process itself.”
“Relationship managers provide an invaluable service during the on-boarding process as they are the main point of contact with a large virtual launch team behind them,” continues Melia. “Teir performance during the on-boarding process can dictate the success of the project. As each White Label provider has particular nuances to their systems, the relationship manager’s ability to communicate and train key staff at the brokers is vital during the early stages post- launch. In an environment where overall budgets are being squeezed and managers are demanding higher return on all marketing spend, marketing support is becoming less prevalent in proposal documents.”
“It is also important to point out however, that as vital as it is for the White Label provider to offer the core services required to deliver success, the broker can only establish a successful online FX business if they themselves have all the elements required to achieve success,” warns Melia. “IG Markets is particularly selective when offering White Labels and will only
Ioannis Kantartzis
“Given the tough market conditions, some brokers will offer a type of tiered level of White Labelling which, more often than not, come with a minimum trading threshold; we are committed to keeping that as flexible as possible.”
april 2012 e-FOREX | 153
do so where we can see real business value and a well established partner with the client base and potential to deliver a successful service.”
Value-added services
Offering value-added services are also an important part of the whole White Label delivery mix. FxPro’s value add is in pre and post-sales support, says Kantartzis. “Many companies offer White labelling, but where most fail is in the follow up. We’re flexible in adapting to client’s requirements and making sure they are well looked after. Our dedicated relationship managers, robust multilingual technical support and train-the-trainer policy, guarantee exactly that. Our in-house staff training and client retention and acquisition strategies are designed to support our prospective partners throughout the lifecycle.”
Fair Trading Technology’s value-adds, says Haman, are also focused on the broker supporting platforms, which he states are essential to be able to support and optimise business without thinking too much about which platform or what liquidity provider the customer wants or uses. “In order to provide this, there is a large list of supporting systems that Fair
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