Motion Software Aims to Bridge FinTech Industry’s IT Skills Gap

The company has been actively working to solve a problematic skills gap observed across the industry.

IT startup Motion Software has partnered up with a leading software university in Sofia, Bulgaria to boost the company’s talent pool. Over the past years, the firm has been consistently providing a growing number of fintech companies with software engineers, designers, and marketing professionals suitable for their needs.

One of the key issues for the FinTech industry over the past several years has been the persistent lack of talented IT professionals. From raw coding talent to UI/UX professionals, the industry has been very actively looking to find the next pool of talented people.

The FinTech industry’s needs are well known across the space, especially in an environment of increasing competition between different service and technology companies. Aiming to address this issue, Motion Software has come up with a structural approach to find and nurture world-class fintech specialists and so improving the odds for companies looking for the right people.

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Christo Peev
Christo Peev, CEO of Motion Software

“When we look for talent we do not simply look for people with great technical skills; showing strong personal drive and eagerness to learn are just as important for us. Our partnership with SoftUni gives us access to the best candidates who have completed the academy. We only contact those who have an excellent academic record and have demonstrated exceptional dedication throughout their studies,” the CEO of Motion Software, Christo Peev, commented to Finance Magnates.

Recruitment Through Education

With Motion Software already having completed projects in asset management, electronic trading and regulatory reporting, the company aims to expand what it started four years ago. The partnership with a leading education enterprise streamlines the company’s strategies to vet the right kind of talent that fintech companies are looking for.

Aside from developers and designers which are in strong demand, the company is in the process of launching a specially designed educational program which will teach students the exact skills that Motion Software’s clients are looking for.

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“Our newest initiative with Softuni is to prepare professionals who want to pursue a career in a given organization. We call this approach ‘Recruitment through education’ and believe it has the potential to influence some of the biggest companies willing to scale-up their teams,” Peev elaborated.

The experience of Motion Software in the industry facilitates the company’s drive to deliver talent to the industry. Peev shared that his startup has worked with a number of firms over the past four years including a Swiss client who is building next-generation online trading platform, a software solution for one London-based firm for MIFID/MIFIR transaction reporting and other projects dealing with blockchain, financial data analytics, and decentralized exchanges.

Operating Model

With the clients of the company strongly vigilant over their own IP and weary about blindly hiring team members in a remote location, Motion Software develops custom client engagement models tailored to the needs of the firm’s clients.

“Classical outsourcing development reaps the benefits of geographically distributed teams and extremely quick recruitment, but offers little control over the quality of the development process and has implications for protection of intellectual property rights,” the CEO of the company explained.

The Sofia-based firm is securing an operating location and environment for the team which is being assembled. After operating the team on behalf of the client for a period of 12 months, the company is transferring the entity to the client’s custody.

The process is only complete after both Motion Software and the client have ensured that a development process has been established and the team has become efficient.

“Not only our process ensures all the know-how and IP will remain with our client, but it allows companies to scale-up their technical operations in a cost-effective and fully-tailored manner. The teams we form are recruited and trained to meet the custom needs of our client, while our Team Architects will use their technical and managerial expertise to lead the team and make it a strong asset in the medium to long run,” Peev concluded.

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