This is a preview of The Rise of Banking-as-a-Service research report from Business Insider Intelligence. Purchase this report. Business Insider Intelligence offers even more insights like this with our brand new Banking coverage. Subscribe today to receive industry-changing banking news and analysis to your inbox. Private labeling has long been a pervasive strategy in retail, where products are made by third party manufacturers and sold under a retailer's name. The cost to manufacture is often much lower than reselling another brand name, resulting in higher margins and increased revenue for sellers. 
Retailers who implement this strategy also maintain wholesale control of the brand, including packaging and pricing, which generates product exclusivity as well as promotes customer recognition of and loyalty to the brand.
Possibly the biggest benefit of private labels, however, is that they eliminate the pains of having to design and build a new product — especially when entering a new market. By outsourcing the entire process and leaving those details to the experts, sellers can instead focus on what they excel at: branding and marketing the finished product.
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