FINTECH OF THE FUTURE: Building a Team of Engineers to Enhance Product Software and Increase Revenue
ROI By the Numbers
- REDUCED PLATFORM INTEGRATION TIME FROM 4 MONTHS TO 3.5 WEEKS
- EXPERIENCED SIGNIFICANT CLIENT GROWTH SINCE PARTNERSHIP 6+ YEARS AGO
- BUILT HIGHLY-SKILLED AGILE TEAM OF 12+ SENIOR ENGINEERS IN A RAPID TIMEFRAME
WHAT YOH BROUGHT TO THE TABLE
- Fintech Services
- 20+ years of Fintech expertise
Degree of Difficulty
- Crowded payments processing market makes standing out with tech a challenge
- Product dev. teams located in one of the world’s hottest tech hubs
- Talent not only asked to develop a high-quality product but find new ways to increase efficiency and accelerate time to market
In the world of Fintech, finding talent in an ultra-competitive market is challenging enough. But BlueSnap, a Global Payments Processing company, went a step further. They needed a team of highly skilled software engineers in Tel Aviv who could deliver product development and assist leadership in bringing new revenue opportunities to the market sooner following a large private equity investment. Combine that with the fact that Tel Aviv was becoming one of the hottest tech hubs in the world and companies across the spectrum were dealing with constant turnover, the job of skill sourcing was that much more complex.
Timing is of the essence in nearly any skilled hiring project, but BlueSnap required an even more accelerated time frame. Working in close conjunction with BlueSnap leadership, Yoh Fintech onboarded a team of 13 senior software engineers in less than 60 days. Using its deep international database of highly skilled software specialists, Yoh Fintech brought on a team of 9 senior software engineers and 4 test engineers who were charged with agile software development, product enhancement, testing, integration, and deployment.
Product Roadmap… accelerated! After Yoh Fintech’s team was onboarded into the process, BlueSnap has reduced the time to integrate its platform for clients from four months to just over three weeks. Now, after more than six years in partnership, BlueSnap and Yoh Fintech have witnessed significant growth in BluesSnap’s client base, with Yoh’s resources now having a prominent voice in their product development world.
FINTECH INDUSTRY FAST FACTS
- $305 billion market value expected by 2025
- 12,000+ global Fintech startups estimated worldwide
- 25-30% combined annual growth rate in Fintech forecasted from 2019-2025
- 96% of global consumers are aware of at least one Fintech service
- 65% of CIOs say hiring challenges are hurting the Fintech industry
Growth in the Fintech industry has exploded over the past half-decade. Last year alone, 64 percent of consumers worldwide said they have used one or more Fintech platforms regularly, nearly double the number of people who said the same just two years prior . The potential in this industry is showing no signs of slowing down.
One of those companies making waves in the Fintech space is BlueSnap, a global payments and ecommerce leader providing companies of all sizes with integrated sales and payment options for their businesses. But in an increasingly crowded space, the demand for best-in-class technology was growing. New players were entering the game, and BlueSnap needed the talent to make its product portfolio standout and avoid any service interruptions.
But what comes with a crowded marketplace is an even more competitive talent landscape, with high-skilled software engineers increasingly difficult to come by. Add in the fact that BlueSnap was based in Tel Aviv, one of the fastest-growing tech hubs in the world, and the challenge gets that much harder. BlueSnap needed a talent partner and staffing provider with a deep roster of software engineering pros who could not only work in an agile environment but provide actual product consulting services. They needed Yoh's Fintech team.
ENGINEERING SECURITY & TRUST
When building and testing software for Fintech companies, the importance of domain knowledge cannot be understated. BlueSnap, in looking for software engineering pros to work on its platform, needed talent that could not only work in an agile environment but individuals who had spent years working in the complex and competitive world of Fintech software development. Simply put – any compromise to software security or experience in managing high-security projects would be unacceptable.
At the time (and still to this day), BlueSnap’s technology is among the most advanced in the Fintech space. It includes multi-currency transactions, where customers may be purchasing products in one currency and paying for it in another – somewhat of a rarity when this project first kicked off. As a company with roots in financial services expertise and staffing, Yoh was the perfect partner. Our experience includes dozens of projects and client relationships across the world of digital payments.
BlueSnap engaged Yoh to bring on a team of 13 senior software engineers in less than two months to work on its platform. Of course, Yoh Fintech was uniquely qualified to handle the project because of the elastic model we operates under. There was no need to search, source and vet candidates – the teams are essentially in place and at the ready. Using its deep international database of highly skilled software specialists, Yoh built a team of 9 senior software engineers and 4 test engineers who was charged with agile software development, product enhancement, testing and deployment. Thankfully, our teams had deep knowledge in multi-currency transactions and were able to aid BlueSnap not just in building its product but enhancing its UI and UX to best-in-class standards.
A SEAT AT THE TABLE
Now, with such deep industry knowledge in the Fintech space, BlueSnap looked to Yoh's Fintech experts for more than simply talent. From the onset, Yoh staff were involved in a consultative manner and played a part in joint proposals to their new customer targets. With an influx of new private equity investment, increasing revenue rapidly was a critical goal for BlueSnap and Yoh Fintech played a key role in making that happen. Often when BlueSnap is looking to pitch a new client, company leadership will turn to Yoh Fintech to assist with creating a full integration plan, a project estimate and proposal development. And all this is validated by the rapid growth BlueSnap has seen through the length of the partnership.
“The Yoh Fintech team has provided BlueSnap with outstanding software product engineering services and continues to be a great partner in helping us progress our Product Roadmap.”
– Faouzi Kassab, BlueSnap SVP of Engineering
Since partnering with Yoh, BlueSnap has experienced significant expansion in its client base. Yoh's Fintech team is also BlueSnap’s first authorized integration and implementation partner, assisting them in the integration of their proprietary payments processing platform into major eCommerce platforms. Additionally, Yoh Fintech is now the go-to partner for custom client integrations.
Yoh's deep database of software engineering pros and first-hand experience working with some of the industry’s biggest companies means clients always get access to the best Fintech talent anywhere around.