Elimity has reached its first birthday! :)
Our company has come a long way since its inception one year ago. In that period we turned our ideas into a viable IAM analytics platform, we’re breaking through internationally with projects for amongst others Rabobank, have been awarded prizes at FinTech Belgium and ING FinTech Village and have recently moved into our new offices in Mechelen.
Exploring ideas & settling down at KBC StartIt
Elimity was founded by three engineering PhDs of KU Leuven. It looks like a long way back now, but it all started with the experience from our PhDs. During that time, we elaborated intensively on data access management together with multiple Belgian and international companies. As work progressed, we noticed that the way that most companies do Identity and Access Management could really improve and that we can help them achieve this. And hence, Elimity was born.
Directly after, our first milestone was entering the KBC StartIt program. KBC StartIt is a dynamic ecosystem grouping start-up companies with the ambition and drive to grow. The entrepreneurial environment and support were invaluable in developing our activities and companies like Cumul.io inspired us to keep on pushing ourselves to the limit. The office space was the cherry on the cake.
Building proof of concept in ING FinTech Village
Early 2017, we applied for the FinTech Village of ING Belgium and became one of the laureates. We entered the 16-week program to confront our ideas and concepts with the reality of the top-tier bank. The program enabled us to sharpen our business focus, participate in master classes, and interact with various relevant persons working for the bank.
Things moved fast during the FinTech Village program. In April 2017 we incorporated Elimity as a company. In June we delivered a proof of concept of our data access management platform supported by the business of ING Belgium and on the program’s concluding Demo Day, we demonstrated our proof of concept to the rest of the bank.
Toward an acclaimed IAM analytics platform
After ING FinTech Village, we took the proof of concept and developed it into an IAM analytics platform. With a focus on analytics specifically for Identity and Access Management, banks use Elimity Insights to shift from periodic time-consuming compliance exercises to more efficient and watertight continuous compliance. The platform assists them in managing who can access which data in order to confidently and successfully face the increasing regulatory complexity.
Continuous compliance clearly is becoming a very hot topic in RegTech and Elimity holds some powerful technology to achieve it. As a result, amongst others, we were awarded the jury award as Belgian FinTech Startup of the year by FinTech Belgium. The organization gathers professionals, startup entrepreneurs and investors interested in disruptive business models and new technology for the financial industry.
Executing production deployment at Rabobank
After ING FinTech Village, things started moving faster and faster. For example, after concluding a successful pilot at Rabobank in 2017, we are now executing a production deployment at the major Dutch bank. Organizations of the size and complexity of Rabobank benefit from a structural yet lightweight solution to keep up with more stringent internal and regulatory requirements.
The production deployment at Rabobank illustrates how our product facilitates financial institutions in properly dealing with IAM compliance controls. The insights we bring across the bulk of employees, authorizations and applications enable the bank to efficiently and continuously control access to their most important data assets.
Recently, our company Elimity has been featured in international publications, including The Banker and Global Banking & Finance Report.
Growing the company and extending the team
The road ahead looks both promising and challenging in a way that gives us an enormous amount of energy. We are collaborating intensively with our prime customers and are shifting gears with several other Belgian and international banks.
Now, we feel it is time to start growing the company. Our aim is expanding outside the BeNeLux region toward the rest of Europe and later the USA.
In support of our growth path with Elimity, we have moved from KBC StartIt to another location. We have found an excellent spot in The Crescent facilities in Mechelen. Our new office is situated near Brussels, the capital of Europe, and the Belgian international airport. The central location serves as the perfect gateway to our international prospects and customers.
At the same time, we are hiring skilled and experienced people. We have vacancies for product and solution engineers and plan to increase the number of software development and business focused internships. By extending the Elimity team, we are transitioning toward a mature software company, which develops and delivers enterprise-ready software. Such deployments involve banking staff working with security/privacy-critical applications related to financing, investment, transactional and other business chains.
Does that sound like you? Give us a shout! It’s been quite a ride so far, looking forward to going harder, bigger and stronger!