Sophocles Ioannou: building authentic relationships is more important than skills

How did you come to OpenWay?

In my native Cyprus, I began my career in the insurance sector before transitioning into banking after a year. I gained experience in both retail and corporate banking, and I found the 1990s to be an exciting time in the industry, as global banks experienced significant growth and prosperity. However, by the early 2000s, the financial boom began to wane, and I began thinking about where best to put my energies.

My next career move was sparked by a job posting for an account manager position at CardTech, a UK-based company specializing in card payments. Despite my initial lack of experience in this field, my background in corporate banking proved valuable. At CardTech, I adapted to a dynamic and open international work environment, characterized by agility and a close-knit atmosphere typical of smaller family-run companies. I quickly had to step up, giving presentations in Cyprus and abroad, and navigating new challenges as they arose. The environment demanded a proactive and hands-on approach.

However, when the company was acquired by TSYS, there was a shift towards a more bureaucratic culture, which I found less client-focused and not as conducive to proactive work. Wanting to stay in the payments industry, I saw Cyprus as a promising location for career growth. When OpenWay recruiters reached out to me with a compelling offer and the possibility of being involved directly with clients, I decided to join them. The personal interest shown by the recruiters and the alignment of the company with my goals of overseeing customer relationships made it an ideal next step for me.

How would you describe OpenWay’s culture?

Less than a year after I joined OpenWay, I became involved in a project with the National Bank of Greece. Our company had been approached by Accenture to assist with modernizing the bank's system. During this period, the bank explored various options amidst significant governmental changes. Ultimately, OpenWay was chosen for not only our great technology, but also our transparency and honesty, as well as our adaptability to different conditions—qualities that are quite rare in this industry.

At OpenWay, we prioritize respect and cultural sensitivity. Our approach is based on open communication, emphasizing the importance of personal connections. We believe that trust is crucial; without it, even the best resources and communication structures can fail. Our flat hierarchy allows for swift decision-making, fostering an environment where everyone feels trusted and empowered. It's about positioning the right people in the right roles and continually taking our performance to the next level.

You have to truly enjoy the payments industry to succeed. It's a fascinating and tightly-knit ecosystem where you need to constantly learn, adapt, stay ahead of trends and innovations, and be creative. Over the years, we've constantly sought to improve ourselves, and that commitment has been rewarding. Despite being a recognized name in the financial industry, we maintain a family-like atmosphere, where restructuring and reorganization decisions are made with care for our team members.

Career growth and promotions are integral to our culture. If you wake up excited to go to work, you know you're in the right place. At this stage in our careers, particularly for those entering their 50’s, we have developed strong instincts and a clear understanding of where to focus our efforts. We're now navigating emerging areas like omnichannel experiences, the metaverse, CBDC, real-time payments and CBDC—concepts that were once novel but are now becoming standard. This is tremendously exciting – both for those of us long in this industry and those who have just joined.

How do you succeed in sales?

Passion is key in this field. Without it, you're limited in what you can achieve. Staying ahead requires constant learning and understanding where the market is headed. Clients expect us to offer solutions that meet their evolving needs, and we must be able to clearly articulate their challenges and our solutions. Clarity and simplicity are crucial; if we can't explain a problem to someone clearly, it indicates a deeper issue. We aim to keep things within grasp and realistic to avoid complications.

Managing relationships with stakeholders is crucial. It's not just about closing a deal; it's about finding the right battles to fight. You need to be strategic about what you present and realistic about what can be achieved. Rushing into a sale without building trust is a common mistake. In our industry, establishing clear boundaries and setting the right expectations is essential. Not every bank will choose Way4, and we accept that. The key is to focus on opportunities where we have a good chance of success and see a good match between the client’s needs and OpenWay's capabilities.

What makes a good salesperson? I’ve thought about this a lot. While it might sound a bit arrogant, I believe that to thrive in sales, there has to be something in your DNA that naturally draws you to the role. Sure, anyone can sit across a table, exchange ideas, and search for common ground. But true sales isn’t that simple.

At the heart of every successful sale is trust. The other party needs to feel that they can rely on you, that they’re talking to someone who genuinely understands them. This doesn’t mean they’ll divulge all their secrets, but they’ll start to reveal something — and that’s where the real work begins. Sales isn’t about selling to a company or a position; it’s about selling to a person. People sell to people, after all. No matter where they come from — whether it's Bulgaria, Latin America, Africa, or anywhere else — they have their own unique cultures and expectations. The key is finding that delicate balance that earns their trust. Only then do they start opening up about their real problems, sharing information, or even revealing more of what is behind their RFPs. But the real sales conversation happens when you’ve built enough rapport for them to feel comfortable with you.

Another important thing is recognizing who you’re talking to. You can’t just walk into every conversation treating it like it’s the big deal. You have to quickly assess whether the person you’re talking to is genuinely worth your time. Are they serious? Or are they just wasting your energy? It’s all about being wise with your effort and knowing when to move on. Sales is psychology, plain and simple. It’s about recognizing whether this lead is valuable, whether they deserve more of your time, and when you should start bringing other people into the process.

Then there’s the other side of sales — managing people. It’s not just about selling to a client. You’ve got to sell to the entire range of stakeholders involved. And you can’t just throw everything on the table and expect things to work out. That’ll only lead to panic and, ultimately, a failed sale. You have to pick your battles carefully. Choose the right points to focus on. If you try to push everything all at once, you’ll lose control, and the sale will slip away. It’s about being smart with your timing and being realistic about the facts at hand. You have to keep things simple, or you’ll struggle to convince even yourself, let alone your client.

It all comes back to this: You can develop your skills as a salesperson, sure, but it really comes down to chemistry and characteristics. It’s about being open, social, intelligent, and intuitive. Ultimately, sales is more than a job. It’s about understanding people on a deeper level, building relationships, and finding the right way to connect.