User:Jcacic7/sandbox

Banker's Toolbox
Banker's Toolbox is a financial software company headquartered in Austin, Texas. Founded in 2000 by Daniel Cho, Banker's Toolbox works with financial institutions across a variety of industries to mitigate their financial risks under the Bank Secrecy Act (BSA), specifically related to fraud, money laundering and other financial crimes.

History
Banker's Toolbox was born of the idea that there had to be a more efficient way to monitor all of the transactions processed through a financial institution every day. Daniel Cho was working in the IT department at Los Angeles bank and saw first-hand the countless hours the bank's BSA officer spent monitoring transactions for money laundering and suspicious activity. He decided to create a software that would not only be more efficient in the process but also free up a BSA professional's time to handle other activities related to financial crimes. Cho spent countless hours building the software, eventually making the BSA officer cry tears of joy at the finished product and the launch of Banker's Toolbox.

In 2000, the first product, Callbox, was launched enabling banks to automatically send a daily email/fax to customers that included transactional activity and account balances. In October of that year, Jun Chong became the first employee of Banker's Toolbox (besides the founder, Daniel Cho).

After the USA Patriot Act passed, Banker's Toolbox released BSA Manager in June 2001, their first anti-money laundering product that enabled banks to get automated reports of suspicious activity. In November of that same year, the launch of WirePro helped automate wire processing, helping community banks save time and improve accuracy.

In May 2003, BAM Manager and SAR Manager combined to become BAM, giving bankers a robust BSA/AML management system.

The company hosted their first Banker's Toolbox User Group (BUG) in 2005 in San Francisco, getting their customers together to share best practices and talk about industry hot topics.

In August of 2005, Banker's Toolbox expanded their reach in the financial sector to include credit unions by signing their first credit union as a customer (Members 1st).

The company adopted the penguin as its official mascot in August 2006, citing the animals' instinct to huddle together for survival when things get tough.

CREST, a commercial real estate (CRE) strest testing solution, was launched in June of 2009, giving banks an in-depth, up-to-date look at their CRE loan portfolios.

Banker's Toolbox went global in January 2010, opening an office in Mumbai, India.

Following that, the company's headquarters moved from Los Angeles, California to the growing tech hub of Austin, Texas in February 2010.

BAM got an upgrade to BAM+ in July of 2013, 10 years after the launch of the original product.

By 2014, the company had a presence in all 50 states. They also launched Fraud Scenarios for BAM+, detecting different types of fraud and helping bankers stay ahead of financial criminals.

Accel-KKR, a Menlo Park-based private equity firm, invested in Banker's Toolbox in July 2015 serving as the company's first outside investment.

In August 2016, Banker's Toolbox founder and CEO Daniel Cho retired, passing the torch on to new CEO Wayne Roberts. That same year, Relationship Manager launched, allowing the marketing departments at banks to better understand their customers and how they could better utilize a bank's resources and accounts.

In February 2017, Banker's Toolbox acquired Integra Systems, a Georgia-based company with a top-of-the-line OFAC scanning technology. This would become IQ Autoscan, a powerful tool in the product suite.

The company continued its rapid expansion, hiring its 100th employee in March 2017. In April of that same year, BAM Casino launched to help casinos and card houses efficiently monitor their transactions for fraud and money laundering and remain compliant with Title 31.

Awards
2013 - Top Workplaces in Austin 2014 - Top Workplaces in Austin 2015 - Top Workplaces in Austin 2016 - Best Companies to Work For in Texas