The European Banking Authority (EBA) on the 14th October published a Report on white labelling, i.e. a business model in which a financial institution works with another company (partner)—sometimes not even a financial firm—to offer products and services under the partner’s brand. The EBA found that over a third of banks surveyed in 2025 use this model and has identified a need for ongoing supervisory convergence actions that will be taken forward in 2026.
Driven by digitalisation and platformisation, new ways for people to access financial services are emerging, including via white labelling that is being used by 35% of the banks responding to the EBA 2025 Spring Risk Assessment Questionnaire (RAQ). White labelling is a business model which involves a financial institution (the provider) entering into an agreement with another financial or non-financial firm (the partner), to offer one or more financial products and services under the partner’s own brand only. Traditionally partners were also financial institutions but, increasingly, are non-regulated commercial entities (e.g. those operating online marketplaces).
The Report sets out the key features of white labelling, provides an overview of use cases, and identifies potential opportunities and risks. For consumers, risks include less clarity about who is responsible for the product, which can make it harder to know who to contact or to avoid fraud. For supervisors, it can mean less direct oversight of some partners.
The Report sets out follow-up actions the EBA will take in 2026 to promote a common supervisory approach towards these models and improve consumer understanding, including:
(i) raising supervisory awareness, having integrated white labelling in competent authorities’ supervisory priorities for 2026; and
(ii) ensuring more effective disclosures to consumers to facilitate their awareness as regard the firm they are dealing with and how to make complaints.
Legal basis and background
The EBA has a statutory duty to monitor and assess market developments, including technological innovation and innovative financial services (Article 9(2) of the EBA Founding Regulation).
The EBA’s priorities on innovative applications for 2024-25, included white labelling of financial products and services as part of the broader topic of value chain developments.
A factsheet accompanies the publication of the report.
Documents
Report on white labelling
(1002.25 KB – PDF)
White labelling of financial services and products in the EU
(2.1 MB – PDF)
Source: European Banking Authority
