Source: Banker's Toolbox
Banker's Toolbox, Inc., the leader in Bank Secrecy Act anti-money laundering compliance solutions, announced today the acquisition of Georgia-based Integra Systems.
Integra Systems provides customer due diligence and OFAC scanning solutions to financial institutions, insurance companies, auto dealers, brokerage firms, healthcare providers and more.
The company's powerful OFAC scanning technology, IQ AutoScan™, will be integrated into Banker's Toolbox's existing product suite. IQ AutoScan™ scans customer databases and other files on a daily basis against the OFAC list, Politically Exposed Persons (PEP) list, FinCEN, EU/UK/UN sanctions list and any other list, automatically with no manual steps required.
Banker's Toolbox is focused on accelerating its growth through the acquisition of new technologies and capabilities for its customers. "We are incredibly excited to welcome Integra Systems and its customers to the Banker's Toolbox family," said CEO Wayne Roberts. "Our business is experiencing record sales and we believe the addition of Integra to our family is a great fit for all parties."
Banker's Toolbox will continue to aggressively seek out companies like Integra Systems whose strategies align with theirs. "Integra's capabilities will add value to our customers and our strengths," said Wayne. "And this is just the beginning."
Supported by private equity firm Accel-KKR, Banker's Toolbox has a vision to be the partner of choice for any organization that is subject to regulatory compliance, even outside of the financial industry. "We are bullish on the Banker's Toolbox team and growth potential," said Park Durrett, Principal at Accel-KKR. "This acquisition adds to a strong and growing portfolio of compliance-related solutions provided by Banker's Toolbox and will continue the momentum we have seen the team bring to both their customers and the industry in the last several quarters."