Banker’s Toolbox, which helps organisations manage risk and streamline compliance, has expanded its team with the hire of Max Thoene.
The Austin, Texas-based company, backed by private equity firm Accel-KKR, has named Thoene as chief operating officer.
Prior to joining Banker’s Toolbox, he was the COO at FATHOM Global Water Management, a cloud-based, geospatial platform. His previous experience also includes creating operations and services at Accruent, Rackspace and Dell.
“Max Thoene will significantly enhance our leadership team and company during this accelerated growth phase. He has a rare combination of experience and skills that will serve us well in our mission to build and sustain a great company,” said CEO Wayne Roberts. “Max is also a phenomenal developer of people and will fit our culture extremely well. This combination is something you don’t find often.”
Founded in 2000, Banker’s Toolbox provides tailored software solutions for BSA/AML and fraud detection, beneficial ownership, OFAC scanning, and secure wire processing automation.
Its BSA & AML software, BAM+, is an anti-money laundering and fraud prevention solution that detects and resolves suspicious financial activity. It utilizes scenarios to detect known patterns of suspicious financial behavior. These scenarios are written specifically to give financial institutions a blended analytics approach to mitigate their risk. In the BSA/AML space, scenarios utilize rules logic, behavioral logic and typologies to detect potentially suspicious activity across multi-dimensional data sources.
Back in July 2015, Banker’s Toolbox received a significant equity investment to support its strategic growth from Accel-KKR, a technology-focused private equity firm.
In the last couple of months, Accel-KKR have been very active in the FinTech space. In October, the private equity firm formed a partnership with UK-based real estate software platform Reapit. The deal came just weeks after the firm made an undisclosed investment in Siigo, a Colombia-based accounting and administrative software provider.
Copyright © 2017 RegTech Analyst
Copyright © 2018 RegTech Analyst
