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Member Spotlight: AxonIQ

AxonIQ is an Amsterdam-based IT start-up designing software components developers can use to build highly scalable systems. Driven by the evolution software systems are experiencing, going now towards a flexible and modular approach, the company offers a solution to scalability issues organizations are facing. On September 29th, the company organizes a conference to discuss current technological challenges and share ideas on future developments in the field.

Company info

AxonIQ conceives tools and software components for customers in need to build systems tailored to their particular requirements. Given the fast-moving environment in finance and technology, systems have to be able to adapt, to scale and to change. It is a challenge for start-ups having to cope with the growth of their customer base, but also for corporates in need to shape systems able to handle the evolving market. The tools conceived by AxonIQ, unlike traditional software, are enabling those companies to transform their system according to their expansion. Indeed, instead of designing unique systems meant to do everything, the emphasis is now on the conception of small modules working together to provide solutions fitting to the needs of customers. By working in close collaboration with them, AxonIQ provides a framework customers can build around according to their wishes.

The start-up consists of a diverse team of seven professionals. All employees are specifically selected from a close network to compose an efficient synergy: each one of them has a unique way of approaching problems, thanks to a combination of senior and junior coming from different types of organizations. Each one of them also defines the company culture; mutual respect constituting a significant part of it, allowing them to team up in regards to the different tasks at hand requiring different set of skills. The forthcoming arrival of three technical employees, and of support for sales and marketing will complete further their expertise.

The headquarters of the company is based in Amsterdam, from where it operates worldwide, with a predominance in their customer base of the US and UK. The company exists since two months and is built on years of work as founder Allard Buijze has been working on the project since 2009.

Market environment

AxonIQ’s core customers are software-developing companies, and even though their product does not focus on one field, it seems to have many uses in the financial sphere. In this sector, a wide range of organizations is collaborating with them, from start-ups (payment providers, online gambling…) to large corporates (Barclays, Société Générale, Rabobank…).

In the field of messaging, they are competing with two different approaches:

  • Enterprise service bus, powerful promise providing intelligence, but very complex and a risk for the agility of the firm
  • Messaging solutions devoid of intelligence

Mr. Buijze is convinced that they found a middle ground where there is a certain degree of intelligence in the routing, although just enough to be efficient and not so much that it becomes a bottleneck for further developments.

The changing landscape of IT knows an important movement from monolithic systems to system of systems, with a lot of components managed by different teams. The issue of scalability is also decisive, as users require more and more functionality. A lot of customers are currently breaking down these monoliths to adapt, to changing laws for instance. They desire to move along with new technologies such as machine learning, enabling a better process of the available data; this is where AxonIQ is delivering its product.

News

On September 29th, the company is organizing a conference in Amsterdam where customers are invited to talk about the challenges they face and discuss why they have chosen AxonIQ to solve their problems. This conference has a didactic purpose on applications at scale. Barclays, Société Générale and Holland FinTech member Onegini are amongst the participants. Technology consultants from Thoughtworks will be there as well to share their vision on where IT is going.

Promontech, spin off of Promontory, will present a greenfield project in the US focused on mortgages. The US-based fintech company is not satisfied with the mortgage system, being complex and not transparent enough. Within this scope, AxonIQ will in the near future deliver an “event store”, a powerful source for analytics consisting of a database optimized to store events that happened in the ecosystem. The high need for auditing, the will to oversee the storing of all events, is the reason behind the launch of the software AxonIQ develops, expected to be delivered next month.

AxonIQ & HFT

Eliska Went, the Marketing Manager at AxonIQ, discovered Holland FinTech recently. Mrs. Went participated in the meet-ups organized by our team, where all sorts of problems, some of them technical, were reached: that is where the start-up fitted. Our matchmaking service mainly motives them to be a part of our marketplace.

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