White Labe solution

[GlobalConsult]

Our goals are as follows:

- Onboarding customer from all EEA countries (private and corporate)
- min. 500+ customer per month
- The main market and customers are from Germany, e.g. 60% Germany, 40% from other EEA countries

 

[DGTLOTC]

Are you wanting to provide named ibans to these customers or happy to work with a pooled brokers account ?

out of interest how will you drive 500 plus customers per month - that’s an amazing amount of applications

 

[GlobalConsult]

500 are nothing compared to others fintechs who do it per day.

Of course, dedicated IBAN is absolutely necessary

 

[Gediminas]

how will you drive 500 plus customers per month - that’s an amazing amount of applications

Agree. Way too optimistic. But I like optimistic people.

 

[DGTLOTC]

It’s purely just the process you’ll need to have in place to compile and go through that amount of applications and to then convert those hot applications to clients before they go cold

maybe severe automation would make it possible,KYC drop boxes and no human interference and it gets lodged directly with relevant compliance teams

 

[GlobalConsult]

Your limited to Eastern Europe and companies like satchelpay now they are back online.

I don't know how satchelpay can find customers at all with these extremely high fees and so much competitors.

 

[DGTLOTC]

It depends global consult - if they have something else apart from run of the mill named sepa accounts ....for instance name eur swift ibans it can be worth it.

named swift is the biggest challenge in the market at the moment for medium to high risk clients

 

[Gediminas]

I don't know how satchelpay can find customers at all with these extremely high fees and so much competitors.

Do you have experiece/funds for serious marketing campaigns? 500 new users per day would require massive targeted traffic to your project.

 

[GlobalConsult]

I had written 500 per month. Indeed, that would be a lot of work to onbard 500 clients per day, currently only N26 and Revolut with a few thousand employees and millions of investments can do that

 

[Gediminas]

I had written 500 per month.

Doesn't make huge difference in regards to marketing budget.

 

[JohnLocke]

I had written 500 per month. Indeed, that would be a lot of work to onbard 500 clients per day, currently only N26 and Revolut with a few thousand employees and millions of investments can do that

I don't think this is a big number if you have a working solution and an EMI that can be trusted. If there is a new player on the marked then it will be floated with customers that are rejected by other EMI's or by people that seek new waterholes all the time. A few posts on social medias, forums and so forth will quickly bring you 500 new customers every months - I believe every week, and this with almost no marketing costs if you know what you are doing and are good at it.

 

[Martin Everson]

Was also just gonna say 500 a month is very achievable if you are willing to do the bare minimum to satisfy AMLD5 and operate on a need to know basis. A lot of Fintechs go completely wrong with high fees which stops the sheep coming through the gate.

 

[GlobalConsult]

We already have experience in the field of finance and also an idea of what we are looking for.

 

[JohnSeed]

We already have experience in the field of finance and also an idea of what we are looking for.

What do you mean?

Why don't you get in touch with some of the large banks and try to figure out a deal with them. You say 1. you have finances in place 2. you have the experience 3. you have an idea what you are looking for.

Now you just need to put the puzzle together, find a bank that is willing to work with you. Fidor bank works with Kraken, so there may be others that want to work with you.

 

[DGTLOTC]

Start with agency regs in the U.K. and build up from there,there’s a couple of people that offer this or alternatively go on the FCA register and look for brokers that have trading names under them or EMD agents

 

[Anye]

I had written 500 per month. Indeed, that would be a lot of work to onbard 500 clients per day, currently only N26 and Revolut with a few thousand employees and millions of investments can do that

And this is the point where you doxxed yourself mate.
No matter how professional you think you can pretend to be, if you believe that N26 or Revolut has thousands of employees, that is lack of informations in that field.

I believe Global Consult would like to operate as a German White Label because he will use the Accounts for the purpose of Fraudulent Payments via Ebay, Fakeshops, Simcloning and such.
Apparently German people dislike to send money outside of Germany, when it comes to sending money to people they do not know.
Else he would know that a AML API can handle 1000 Requests per day and outsourcing such an endeavour for low cost, giving the impression to Non-Business insiders that a firm may operate with thousands of people.

Good luck young kiddo.

 

[GlobalConsult]

And this is the point where you doxxed yourself mate.
No matter how professional you think you can pretend to be, if you believe that N26 or Revolut has thousands of employees, that is lack of informations in that field.

I believe Global Consult would like to operate as a German White Label because he will use the Accounts for the purpose of Fraudulent Payments via Ebay, Fakeshops, Simcloning and such.
Apparently German people dislike to send money outside of Germany, when it comes to sending money to people they do not know.
Else he would know that a AML API can handle 1000 Requests per day and outsourcing such an endeavour for low cost, giving the impression to Non-Business insiders that a firm may operate with thousands of people.

Good luck young kiddo.

New member and so cheeky. Good night!