Over 8 direct hires in 7 months

"cord makes our life easier and its return on investment has been a no-brainer for us"

Jack Adkins on cord
Jack Adkins, Talent Acquisition Manager at 10x Banking

9

Direct Engineering & Product hires made

55%

Positive response rate from engineers

cord usage

9 direct hires
31 positions
5 users
Greater London

About 10x Banking

10x Banking is a fintech startup aiming to help banks manage their transition to digital services. 10x Banking sets itself apart through its next-generation cloud-native technology platform which uses the latest cloud technologies to address banks' core banking and legacy architecture challenges. Moreover, 10x Banking has built a user-friendly platform that enables clients to quickly create and release new products to markets. The aim being banks using its service can release a product in minutes, enable banks to engage their customers with more timely, relevant and personalised experiences.
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Our Goal

We had capacity to take on new tools and joined cord to reach areas of the Technology market that we perhaps weren’t reaching via our traditional hiring methods, such as using recruitment agencies.

Our Situation
Over the last 2.5 years, we have experienced rapid growth at 10x Banking, particularly in the Product and Engineering space. We were searching for a cost-efficient tool that would support our scaling needs on the long term and help us reduce our agency spend which was really significant.
Using cord

Direct-messaging tool enabling us to save time on sourcing Our daily process on cord helps us save time - it simplifies sourcing for us and keeps us engaged as we only have keep an eye on new people in our streams and inbound messages.

One of the first things we do every morning is log in to cord. We reply to messages in our inbox received from engineers interested in one of our positions. We also review new candidates that have been added to the streams we set up for each of our roles.

Using different filters such as primary and secondary skills, salary expectations, work eligibility or remote preferences, we can narrow down searches and reach out to engineers matching our requirements to book a first round of interviews. Intuitive design and product features optimising sourcing cord’s built-in product features are intuitive and various aspects of the tool have made our life easier. For example, the message templates have enabled us to have really positive first interactions with people and easily start more meaningful conversations.

We’re able to personalise our outreach to maintain a genuine and targeted approach. Since using cord, we’ve been experiencing a really strong conversion rate from reaching out to starting a conversation. A majority of those conversations will result in people moving through our interview process. Healthy volume, quality people The volume of active engineers matching our roles across Product&Engineering roles is strong, but we’ve also chosen to focus on quality over quantity. cord meets our needs in terms of the calibre of profiles and fits well into our overall hiring strategy.

The people you’re seeing on cord on a daily basis are also actively looking for new opportunities and therefore much more likely to be open to starting a conversation. We’ve had a 55-60% response rate from engineers we’ve reached out to, which is really high.

Our first hire on cord was a Senior Principal Engineer which had historically been a very tough role to fill for us due to its high barrier to entry. Once we started using the tool, it only took us 4 weeks from first message to offer to find the right person for the position.

Our Result

We’ve hired 9 people this year through cord, reached over 60% of positive response rate from engineers and decreased our reliance and spend on agencies. Since joining cord, we’ve completed 75% of our recruitment through direct hiring.

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