BNY Mellon Partners with HackerRank to Boost FinTech Innovation with Skills-Based Hiring

PAlo Alto, CA - 16 March 2017

BNY Mellon is using HackerRank skill assessments to hire developers faster 

HackerRank, a platform that helps companies evaluate developers based on skills, announced today that BNY Mellon, a global leader in investment management and investment services, is saving thousands of hours in technical recruiting using HackerRank platform. The company is also reaching a wider pool of talent than with traditional proxies, like resumes or universities. Time savings and access to a more qualified and diverse candidates helps BNY Mellon innovate faster worldwide.

After opening its eighth innovation center worldwide, BNY Mellon is hiring more engineers than many popular tech companies in Silicon Valley. BNY Mellon's demand is evident by increases in the number of software developers that are taking BNY Mellon's coding assessment, powered by HackerRank. All developer candidates who are interested in working at BNY Mellon must take a HackerRank coding challenge as part of the interview process.

BNY Mellon first started leveraging HackerRank's skill-based hiring platform in 2015. Since using HackerRank, the company has seen an exponential increase in the number of developers they are able to find, evaluate and ultimately hire globally. In 2016, the number of candidates assessed monthly increased three-fold from the beginning to the end of the year. HackerRank skill assessment attempts have been steadily increasing quarterly.

"HackerRank is a true partner," says Sara Hollister, vice president of the Silicon Valley Innovation Center at BNY Mellon." The time saved by building strong assessments for technical candidates helps us scale and strengthen our engineering team worldwide."

With HackerRank, BNY Mellon's engineering team is also able to cast a wider net and access a more diverse set of candidates who may be filtered out using traditional recruiting methods, which prioritize pedigree, connections, location and are inherently biased.

Last year, BNY Mellon helped sponsor HackerRank's Women's CodeSprint, a 24-hour online hackathon dedicated to creating opportunities for female developers worldwide. As a result, "HackerRank Women's CodeSprint provided us with a unique talent sourcing opportunity – the chance to connect with, and view the work of, ambitious, high-performing women technologists eager to make their mark," says Mike Biedermann, managing director of technology and operations talent acquisition at BNY Mellon.

HackerRank estimates that the average recruiter spends 45 minutes reviewing resumes and manually conducting phone screenings per candidate, and every developer spends about 20 minutes per phone screen. With HackerRank, BNY Mellon saved an estimated 23,000 hours in 2016 with auto-scored skill assessments.

BNY Mellon is leading the skills-based revolution in the finance space to save time, hire more qualified developers and innovate faster.

HackerRank is a platform that helps companies evaluate developer quickly and efficiently based on their coding skills. We're driving a new paradigm shift by eliminating resumes and creating opportunities for millions of programmers worldwide. HackerRank was founded in Palo Alto in 2012. Over 1,000 companies use the platform to build strong engineering teams, including VMware, Capital One, Quora and more. 

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation. 

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