Elaxy is one of the most reputable software and IT service providers for banks, financial service providers and insurance companies. Comprehensive technology and industry expertise are the basis for advice, information, planning and transaction solutions through which Elaxy helps its customers to use their sales potential more efficiently, increase the quality of advice and customer loyalty, accelerate processes and reduce costs significantly.
After the spin-off from the parent company, new management and reporting structures were implemented, including external recruitment. After the attack on the Wold Trade Center in September 2001 Banking business environment deteriorated. Borromin and management developed a strategy of cost savings and targeted product developments through which Elaxy could benefit from the weakness of other market participants and accordingly gained market share. This successful positioning attracted the interest of strategic buyers and Elaxy was sold to a long-term business partner in July 2005.