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Fintech Business Development Representative Interview
Questions

29 Questions and Answers by
| Marcie is the principal and founder of CopyHawk, a company that offers editing, writing, and career coaching services. She loves to revamp client resumes so they can land the job of their dreams.

Question 1 of 29

How will you structure your day?

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Fintech Business Development Representative Interview Questions

  1. 1.

    How will you structure your day?

      Being a fintech business development representative can be somewhat monotonous and stressful at times. The interviewer wants to know that you will structure your day in such a way that you incorporate some stress relief, collaboration with your team, and blocks of solid time for placing calls. Emphasize that you are organized and able to prioritize your workload.

      Marcie's Answer

      "I generally start my workday by looking at my calendar and to-do list so I know what meetings, appointments, follow-ups, and other items are on my agenda. Then, assuming my team meets daily in the morning, I will meet up with them in order to make sure we're on the same page when it comes to goals and prioritization for the day. Early morning through lunch would likely be a call block. At lunch, I will definitely take at least 30 minutes to destress by taking a walk and talking to colleagues. I feel this is important given the tediousness and challenges that sometimes arise from making calls. The afternoon will likely be split between follow-ups and making more calls. Although my days may somewhat vary from this, these are the general tasks that I will likely allocate time for during my workdays."

  2. 2.

    Why do you like sales and want to be a salesperson in the fintech industry?

      It takes a specific type of person to succeed in Fintech sales. Show the interviewer that you fit the bill. Talk about the aspects of sales that you like and why you've chosen this career path, specifically in Fintech. Discuss the personality traits you have that will help you excel, like being someone who is personable, helpful, and motivated. You might also mention that you like the challenge of earning commissions and surpassing your quotas.

      Marcie's Answer

      "To me, sales gives me the opportunity to help people. I take the time to get to know them, identify what problems they are experiencing, and then show them how the products/services I sell can help them. It makes me happy when in the end they are happy with how their life has been simplified or made more enjoyable because of our interactions. More specifically, I desire to make people's lives easier when it comes to their finances because this is an area that I enjoy and am knowledgeable in. I'm also a self-motivated individual who is driven by targets, quotas, and commissions. I like the notion that the harder I work, the more I am monetarily rewarded. Sales is definitely the right career path for me."

  3. 3.

    How do you handle gatekeepers while trying to get through to prospects?

      Since fintech business development representatives engage with prospects in the early stages of the sales funnel, they frequently talk to gatekeepers like receptionists and administrative assistants. There will be times when the gatekeeper won't allow you or your message to get through to the prospect you're targeting. Explain to the interviewer the methods you use to help ensure you can get past the gatekeepers.

      Marcie's Answer

      "I make it my goal to earn the trust of the gatekeeper because you won't get anywhere without that. I also try my best to be as nice and friendly as possible because people respond to that. If you treat them nicely, it's likely they will treat you nicely back. In addition, I also make sure that I am informative and helpful so the gatekeeper knows that I have valuable information or something that will help their boss. If they believe this to be the case, generally they will pass along my message because they believe it is beneficial for their boss. If the gatekeeper thinks I'm just a telemarketer, forget it. Also, if I have time, I try to look up the gatekeeper on LinkedIn prior to the call. Having some information about them helps me to build a rapport and gain their trust. Finally, if they keep preventing me from getting in touch with the prospect, I look to see if I can somehow skip over them by contacting someone else."

  4. 4.

    Where do you see yourself in three years?

      Interviewers like to know that the person they decide to hire isn't going to up and leave after a year. They ask this question to gauge whether you plan to stay long-term with the company or not. This is also an opportunity to show how serious you are about fintech sales.

      Marcie's Answer

      "I'm still in the early stages of my career; however, I've determined that fintech sales is the right path for me. By nature, I'm resilient and outgoing, and I love to talk on the phone. I don't take things personally or give up easily. I also like to lead others and gained some experience doing that in college. So I'm happy cutting my teeth at the junior level right now, but in three years I would hope to have moved up in the sales ranks and have begun mentoring those below me. Eventually, I'd like to be promoted to a sales manager role."

  5. 5.

    Describe a time when you went above and beyond for a customer.

      Customers are the heart of every business, and the interviewer wants assurance that if you're hired you will provide their customers with amazing service. Talk about a time when you went the extra mile for a customer. If you don't have that kind of experience yet, discuss a time when you helped someone personally.

      Marcie's Answer

      "I definitely understand how important it is to please the customer. From a very young age, I watched my father, who owned his own construction business, do this. More recently, I had a job in the tech department of a big electronics company. A customer came in one day and tried to return a product outside its return window. They wanted the product but it wasn't working properly so they needed to return it and wanted their money back. They were on the verge of getting very upset when they learned that they might not be able to return the product, so I reached out to a contact of mine at the manufacturing company and arranged for the manufacturer to replace the product free of charge to the company I worked for. So, ultimately, the company saved money and the customer was happy with the replaced product. I always strive to be resourceful and quick-thinking so I can satisfy the customer like my dad always did."

  6. 6.

    What are your thoughts when it comes to cold calling?

      Fintech business development representatives generally spend a large part of their workday calling cold leads. The interviewer is looking for someone who isn't shy and who can quickly build a rapport with someone new. Talk to the interviewer about how your personality and experience are perfect for this type of role. If you haven't cold called before, explain that you are coachable and eager to try it.

      Marcie's Answer

      "I am fully comfortable calling cold leads. A few years ago in college, I worked during the summer for a large non-profit, and one of my responsibilities was to cold call educators about various fundraising events that we were running. At first, I struggled to make these calls because I wasn't used to doing this, but over time I began to enjoy the challenge of persuading folks to hear me out. After I scored a few sign-ups for our events from my cold calling attempts, I was highly encouraged and started setting targets for myself. I found that I'm able to connect with people easily, and if I'm funny and friendly, as well as provide useful information, the cold leads tended to be more receptive to my requests. I'd love to do the same for your company."

  7. 7.

    Suppose you end up in a disagreement with a colleague. What will you do?

      As a fintech business development representative, you will work on a team that likely meets on a daily basis and shares common goals. It's also possible that your manager will encourage some healthy competition between yourself and your teammates in order to motivate people to close demos and deals. If at some point you end up in a conflict with a teammate, explain to the interviewer how you will handle this.

      Marcie's Answer

      "If I end up in a disagreement with someone else, before things start to fester I will ask to meet with them privately so we can each share our perspectives. I will strive to actively listen so I can understand their opinions and feelings. If I owe someone an apology, I'll be quick to say I'm sorry so we can move on. In general, though, I would focus on finding a compromise so that we each feel that our needs have been met. If we're unable to come to a resolution ourselves, I would approach our manager and ask for their input."

  8. 8.

    Why do you want to sell our product/service?

      A successful salesperson usually believes in the product or service that they are selling. This helps them to come across as sincere when interacting with potential customers. Since as a fintech business development representative you'll be one of the people on the front lines who convinces prospects to try or buy their product, the interviewer wants assurance that you'll be able to effectively do this. Tell the interviewer with enthusiasm why you're interested in selling their product/service. You might also mention your affinity for finance and technology as well.

      Marcie's Answer

      "I am drawn specifically to this role within your company because I have always had a passion for the stock market. I've done my due diligence and know that your company's investment research product is one of the best ones in the industry. I know I will find it easy to persuade other investors to try it because I sincerely believe in the product itself and the benefits it offers. I am a strong and confident salesperson who can sell anything, but I am eager to sell your product in particular because I use it myself and know that other investors will love it too."

  9. 9.

    In your opinion, what skills does someone need to be a great fintech salesperson?

      The key to answering this question is to connect the skills you cite to yourself. There are many different qualities and skills you can mention - from salespeople needing to be effective communicators, exceptional problem solvers, active listeners, and strong negotiators to empathetic, personable, and able to manage their time - but whatever you pick to discuss, make sure you bring it back to yourself. If possible, provide examples of times when you've displayed these attributes.

      Marcie's Answer

      "I think it's most important that a fintech salesperson be personable and very good at communicating. After all, they need to be able to sell their product to a prospect using words. The name of the game is getting a prospect on the phone and building a rapport with them so they trust you and ultimately want to buy your product or schedule a demo to learn more. This is the epitome of who I am; I excel at building trusting relationships with people I've only recently met. Fintech salespeople also need to be aware of what's going on in the financial markets so they come across as knowledgeable and relevant to prospects in the fintech industry. They also need to be quick on their feet and able to think creatively so they can come up with solutions to customer issues, in addition to being great listeners who can truly understand what problems the customer is dealing with. I recently talked to a prospect whose company was spending a ton of time trying to analyze SEC filings to make investment decisions; I recognized that the company I worked for had a service that would eliminate this time suck and was able to jump on the opportunity to schedule a demo with the prospect after explaining how this would solve their problem."

  10. 10.

    Tell me how you deal with rejection.

      It's likely that as a Fintech business development representative you will face rejection on a daily basis. The interviewer wants to know that you are resilient and persistent. Talk about a time when you successfully handled rejection. It's important to show the interviewer that you didn't give up.

      Marcie's Answer

      "I'm the type of person who perseveres, even when the going gets tough. Rather than letting difficulties defeat me, I rise to the challenge and enjoy working hard to tackle and conquer them. During college, I worked during the summer for a call center making hundreds of outbound calls a day. Many of my team members became burnt out and jaded over time after they were hung up on and cussed out so many times. While I didn't enjoy that part of the job either, I chose not to take those responses personally. Every day I tried to reach a target number of positive responses, and if I got a lot of hang-ups, I would increase the number of calls I made to ensure I hit my number. I rewarded myself at the end of the day with something I enjoyed if I hit my target."

  11. 11.

    How do you handle it when a prospect objects to what you're saying?

      There are going to be times when a prospect objects to your claims. For example, they might tell you that a competitor's service is better, or they might push back on the statistics that you have cited. The interviewer wants to know that you will be able to alleviate any concerns that the prospect might raise. If possible, tell the interviewer about a time when you successfully handled the objections a prospect threw at you.

      Marcie's Answer

      "Before I start making calls at a company, I talk to the current sales team to find out what objections they commonly hear from prospects. This allows me prepare rebuttals in advance before I even start making calls. Within my last position, I frequently heard from people that the service I was selling was too expensive. Since we offered a subscription-based service, I responded by offering various subscription lengths and tiers to alleviate some of the issues around cost for people. Many prospects also used to tell me that they didn't have the authority to make purchasing decisions themselves. In this case, I worked with my team to figure out better ways to ensure I was calling the decision-makers at these companies."

  12. 12.

    What would you do if a prospect asked you about one of our competitors?

      The interviewer wants to know that you can handle all kinds of situations that may occur on the phone. If a prospect asks you about one of your company's competitors, you will need to be able to handle these comparisons and explain why your company's product/service is better without badmouthing the competition. Explain what you would do in this situation, and walk the interviewer through an example if possible.

      Marcie's Answer

      "I have definitely encountered this kind of situation before so I'm confident that I can easily manage this and turn it into a positive for our company. Prior to making any calls, I will research who our competitors are and what differentiates us from them. I will make sure to have talking points at the ready so if anyone ever brings up any of our competition, I am able to explain why our products/services are better for them without disparaging the other company or companies. To me, it's easy to handle this type of situation because if I truly believe in the product or service I'm selling, I can truthfully tell the person I'm speaking to why our company is the better choice."

  13. 13.

    How do you react if a prospect goes dark on you?

      There are going to be instances when a prospect who appeared to have potential 'goes dark,' or, in other words, disappears on you. Explain to the interviewer how you will handle this type of rejection. Discuss your resiliency and ability to bounce back after a prospect treats you this way.

      Marcie's Answer

      "I know that sometimes a prospect who seems great might end up not working out, for whatever reason. I don't take it personally, because I know that there are plenty of valid reasons they may have changed their mind. For example, perhaps they don't have the funding to pay for the product or service, maybe they've lost interest in it, or perhaps there are other external factors in play that explain why they've suddenly discontinued their communication with me. If I believe that the prospect had a sincere interest in the product or service initially, I make sure to follow up several times before giving up on them. Sometimes it's as simple as the person is busy, and they need a few reminders before they are willing to move forward."

  14. 14.

    Let's say that one month you miss your quota. What will you do?

      Fintech business development representatives live and die by their monthly quotas. The interviewer wants to know that you proactively monitor your performance every day, and if something seems off, you immediately make changes so that you can continue to meet and exceed your quotas. Show that you are willing to ask for help if needed.

      Marcie's Answer

      "Very early on in my career, I missed one of my quotas. This was a huge learning experience for me. Most of all, I realized the importance of continually monitoring my performance and metrics every day so the minute something starts to go awry, I can adjust my strategy and change its trajectory. I don't wait until the end of the month to start worrying about my numbers. If needed, I might make more calls or change the timing of them; in others, I might brush up on my knowledge of the product or initiate more training from my manager. Ultimately, it's a matter of staying aware of what's happening and making changes if necessary to ensure I'm consistently hitting my numbers."

  15. 15.

    How do you measure success?

      Many times fintech business development representatives measure their success using quantitative metrics, like scheduling a specific number of demos and on-site appointments or hitting a certain revenue goal. If you've previously measured your work in this way, tell the interviewer about it. Talk about what motivates you and how you strive to exceed expectations.

      Marcie's Answer

      "I use various metrics to measure my success at work. Being analytical by nature, I like that this method isn't subjective. Although the metrics can vary depending on the job, once I know what is expected of me, I always work to surpass those expectations. For example, at my last job, I was in charge of setting up demo calls with prospects for senior sales. I had a certain number of calls I had to make daily and a target number of demos I had to schedule. I was consistently one of the leading BDRs in scheduling demos that converted into paying customers, and if I wasn't able to hit my target demo number after making all my required calls for the day, I would frequently make extra calls in order to hit that number."

  16. 16.

    Did you work throughout college?

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  17. 17.

    What do you know about our company?

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  18. 18.

    Sell me this [insert item of choice].

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  19. 19.

    Describe a time when you helped close a fintech sale.

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  20. 20.

    What methods do you use to organize and prioritize your daily workload?

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  21. 21.

    Would you describe yourself as a team player?

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  22. 22.

    How do you research fintech prospects?

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  23. 23.

    What CRM software are you familiar with?

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  24. 24.

    Tell me how you handle difficult prospects.

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  25. 25.

    What is your preference when it comes to management style?

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  26. 26.

    What are your thoughts about talking on the phone a lot?

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  27. 27.

    Tell me about a time when you had to get really good at a skill and how you did this.

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  28. 28.

    Describe a time when you dealt with a challenge. What motivated you to keep going?

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  29. 29.

    Tell me about any experience you have in customer service. What did you like and dislike about it?

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