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About Finastra

Finastra is one of the largest fintech companies in the world, offering a broad portfolio of solutions for financial institutions of all sizes, employing over 10,000 employees globally.

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We received more than 50,000 applications each fiscal year for our roles in Product and Technology.
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The hiring managers were looking for guidance to test the technical capabilities of candidates remotely.
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We had to deliver fast and to great quality. This was the trigger for starting a collaboration with Codility.

The Challenge

As many companies put hiring on hold, Finastra kept going to drive growth and started to receive massive volumes of applications which required a thorough screening process and quality check.

With over 1,500 new hires every year, Product & Technology onboards more than one-third of the new employees; all of them with different skill sets and backgrounds: from C++, C# to Java, JavaScript, Ruby, and .NET.

The hiring process required many changes, but COVID-19 only accelerated the digital transformation that started long before. Finastra was on the right path to start hiring remotely, hiring top candidates faster, and staying competitive.

The Implementation

The team streamlined the recruitment process by decreasing the number of technical interviews, replacing them with CodeCheck and CodeLive which saved hours of engineering time.

The new process was not only faster but also more convenient for candidates. “Every candidate receives only one CodeCheck assessment. They can take the test whenever they want, when they have time, are focused and most productive,” says Sabina.

With almost a double number of applications received compared with last year and by creating code checks and remote interviews through Codility, the hiring managers had the confidence and the tools to select good matches for their teams.

 

The Results

A fully remote hiring process improved the recruitment metrics. Within only 6 months, the team decreased the time to hire by 28%. By using Codility, the team also decreased the engineering time involved in the recruitment process by 50%.

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Before Codility, hiring managers participated in 10 interviews to send one offer. Today, they spend half of that time.
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Today, we are much more efficient and we can reinvest the time into quality discussions with the candidates.

What Changed After Implementing Codility?

The hiring managers and recruiters at Finastra now have more standardized ways to assess technical candidates and match them with opportunities.

The new reality also opens new opportunities, allowing Finastra to reach out to new locations, open a wider candidate pool, and therefore bring candidates with more diverse backgrounds.

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