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1. IMRPOVING SELLING TO US CLIENTS
BY ADDRESSING KEY GAPS
(FINANCIAL SERVICES EXAMPLE)
Konstantin Fominykh, CEO & Founder TurnFix (New York, US)
Professional Coaching and Educational Programs
March 2015

2. 1. Trends in Financial Services and opportunities to sell their
needs
2. 4 capabilities to help you stand out when selling to
financial institutions
3. Services that TurnFix provides to close the gaps
AGENDA

3. 1. Trends in Financial Services and opportunities to sell their
needs
2. 4 capabilities to help you stand out when selling to
financial institutions
3. Services that TurnFix provides to close the gaps
AGENDA

4. WALL STREET IS A MAJOR CONSUMER OF IT SERVICES GLOBALLY:
• Global banks spend $200B on IT
• Insurance companies spend $170B
• Global video gaming industry IT spending less than $40B
LEADING EASTERN EUROPEAN OUTSOURCERS ALREADY SERVE
LARGE EUROPEAN BANKS:
• Luxoft has >1,000 developers for Deutsche Bank alone. Also serves UBS
• EPAM has good momentum in its Banking and Financial services verticals
(serves UBS, Barclays, Thompson Reuters)
• Asseco (Poland) serves mostly European Banks
FINANCIAL SERVICES IS A MAJOR BUYER
OF IT SERVICES

5. 1. Low interest rates, implying declining profitability across Finance
2. Government pressure to re-focus on basic services and avoid risk taking
putting pressure on profitability
―Higher capital buffers and lower leverage undercut returns (ROE)
―Growing status of Risk Management
3. Technology innovators/disruptors undermine profitability:
― Payment technologies: PayPal, Venmo(PayPal), Square, Snapchat,
Facebook, ApplePay
― Crowd funding platforms for individuals and small businesses:
Lending Club
― Investment automation: Betterment, Wealthfront
DECLINING PROFITABILITY, GROWING AUTOMATION
FINANCIAL SERVICES – TREND 1

6. HOW EESO ARE VIEWED FROM THE WALL STREET:
• Quality and Reliability is more than the price
• Brain drain is accelerating (both to the West, East and South)
• Ukraine is perceived as highly risky and unstable place
• High-profiled financial hacking and fraud cases create a black eye
• Due to salaries pegged in local currency, Poland and Russia became more
competitive
WHAT EESO CAN DO TO COUNTERACT THESE TRENDS:
• Rebranding themselves as global
• Increase personnel quality
• Increase labor supply to larger firms with stable Western contracts
CURRENT COMPETITIVE LANDSCAPE FOR EASTERN
EUROPEAN SOFTWARE OUTSOURCERS (EESO)

7. 1. Trends in Financial Services and opportunities to sell their
needs
2. 4 capabilities to help you stand out when selling to
financial institutions
3. Services that TurnFix provides to close the gaps
AGENDA

8. 1. Embrace Big Data, Distributed Databases and Unstructured Data
2. Adopt Consultative approach to Selling (Solutions)
3. Develop Financial Vertical (hire experts, educate your PMs)
4. Sharpen your communication (attitude, language skills)
4 CAPABILITIES TO STAND OUT
WHEN SELLING TO FINANCIAL INSTITUTIONS

9. THE ‘V’S OF BIG DATA: CONCEPTS, DISTRIBUTED DATABASES
• Volume - unrealized demand to develop the context
• Variety - tons of demand
• Velocity - overfocus
• Veracity
APACHE HADOOP ECOSYSTEM:
• HDFS
• MapReduce
• Zookeeper, PIG/Hive, Mahout, etc
1.a. BIG DATA, DISTRIBUTED DATABASES
AND UNSTRUCTURED DATA

10. UNSTRUCTURED DATA IS A MAJOR LONG TERM TREND
• 80-90% of newly generated data is unstructured
• Most large banks have dozens of legacy software applications and
databases. Starting from scratch is rarely an option
• Forward-looking banks (Goldman Sachs, Morgan Stanley, JP Morgan) are
switching to distributed databases and unstructured analytics
TOOLS:
• NoSQL (MongoDB, Cassandra, HBase)
• Graph databases (Oracle NoSQL, Neo4j, Cypher)
1.b. BIG DATA, DISTRIBUTED
DATABASES & UNSTRUCTURED DATA

11. CONSULTATIVE MINDSET:
• Building a long term relationship is the name of the game
• Situating your expertise inside the customer’s world - best sales people
are integrators
• A prospect client would not doubt your capabilities: honestly, your
expertise is not that unique, and, your will learn fast whatever is missing.
What they really care about is how would it be to work with your team
CONSULTATIVE TOOLSET:
• Reflect their issues in you proposal - research their business and
industry
• Speak their terminology, their language, their interests
• Consolidate points of delivery
• Do not stop selling when a project starts
IT IS A COMPLEX AND LONG PROCESS,
BUT IT ENSURES LONG TERM RELATIONSHIP AND VERY HEALTHY PRICE
2. ADOPT CONSULTATIVE APPROACH TO SELLING

12. 1. Trends in Financial Services and opportunities to sell their
needs
2. 4 capabilities to help you stand out when selling to
financial institutions
3. Services that TurnFix provides to close the gaps
AGENDA

13. PRODUCT AREAS:
• Fixed Income
• Credit
• Mortgages
• Equities
• Currencies
FUNCTIONAL AREAS:
• Trading
• Asset Management
• Insurance underwriting and
actuarial valuations
• Risk Management
TURNFIX HAS A WIDE NUMBER OF PARTNERS/CONTRACTORS
WITH DEEP, WORLD-CLASS EXPERTISE ACROSS MOST OF THE AREA OF FINANCE
Hire experts, educate your PMs in:
3. DEVELOP FINANCIAL VERTICAL

14. EASTERN EUROPEAN COMPANIES BEAT INDIAN
OUTSOURCERS ON COMPLEXITY
Source: TurnFix interviews
– One of the largest Canadian retailers (Canadian Tire) described EPAM as a very creative company, which has brought
innovation and business problem-solving to Canadian Tire.
– Thereby differentiating EPAM from other IT services vendors performing lower-end work.
IT Outsourcing Global Comparison: Projects complexity and Pricing per hour

15. • SMILE MORE
• BE ON TIME
• FOLLOW UP, FOLLOW UP, FOLLOW UP
• BE RESPONSIVE
• BE OVERLY POLITE
4.a. SHARPEN COMMUNICATION SKILLS

16. • Instructor guided and computer assisted methodology
• Targeting most problematic sounds for non-native English Speakers
IMPROVE YOUR ENGLISH WITH TURNFIX
• No traditional testing, no homework, no grammar drills
• Idioms and phrases are geared for Business
• Professional Native English speaking instructors
• Able to arrange learning globally
4.b. SHARPEN COMMUNCATION SKILLS

17. Turnfix.com
clients@turnfix.com
+1(646) 286-8432
+38 050 100 8880
CONTACTS
Thank you!