Banker's Toolbox has 650 customers nationwide and tends to stick to the banks with less than $10 billion in assets. The companies did not disclose the amount of the investment or the percentage of the stake. But Bankers' Toolbox has earmarked the money for the marketing of its existing products, research and development and potential acquisitions of complementary companies. With its additional capital, Cho said the expansion could mean targeting larger companies, too. Still, Cho said the investment is fresh and an exact strategy to deploy the capital is still being decided. The company has several products within its proverbial toolbox, but the main product is called BAM+, software that uses analytics to detect unusual activity and file suspicious activity reports. The company says its product is different than "first-generation" software that perhaps generates too many false positives...

http://www.americanbanker.com/news/bank-technology/private-equity-firm-sees-upside-in-small-banks-compliance-pain-1075591-1.html