Aprila Bank was est. in 2017 and is a small fintech bank of 30 employees, offering innovative financial solutions and loans without the hassle to small and medium-sized businesses.
In October 2021 they entered a business partnership with DNB which is Norway’s largest financial services group in order to utilize Aprila’s technology infrastructure that employs machine learning models predicting outcomes and price risk automatically, using real-time data in addition to ordinary sources of credit information. They needed to grow their development team as a result, however in a market where demand for software development far out ways supply finding the right talent was proving challenging.
“As it always is, the fight for good talent is super, super hard. Especially coming out of Covid, the situation for finding tech talents that were interested in moving to other companies, is really hard. Also, you had a period, where the inflation in salaries was running wild. We tried to find talent through our own channels, and that has worked previously, but this time it was completely dry. It was impossible to get any significant amount of good leads.”
Challenge of a dedicated team
Aprila has previously worked with software consultants in different countries in easter Europe, and even India, Israr states that this has worked well, but after COVID they found that in order to ensure a strong company culture and maintain knowledge in-house they had to change the model and focus on development within the company in Oslo Norway. Being a small company having close proximity to all colleagues ensures that company culture and values are instilled as well as increasing efficiency.
“Probably the biggest reason for why we choose to have people hired inside of the company instead of hiring consultants externally, it’s because we really want the people that are working with us as a company to feel and breathe Aprila and we often find that to be easier when they are on our own payroll versus an external company. That said, one of the things that we’ve been looking into is if we can have branded hubs or, a hiring model, which might be based on a traditional consultancy model, but we need to have people that go to the work and feel that they are working for Aprila and not an external consultancy company.”