Banker's Toolbox Launches WireFraud ManagerTM to Combat Growth of Wire Transfer Fraud

- With wire fraud on the rise, Banker's Toolbox provides real-time prevention technology for community financial institutions -

AUSTIN, JULY 21, 2011 - Banker's Toolbox, a leading provider of financial crimes detection and prevention technology, is spearheading the fight against wire fraud with the launch of their newest product WireFraud ManagerTM to supplement their WireProTM suite of wire processing solutions.

The spread of internet malware and key logging software has led to an increase in sophisticated wire fraud schemes targeting customers of community financial institutions.  In addition, recent high profile court rulings have created legal precedence whereby community banks and credit unions are increasingly expected to have the ability to detect and prevent wire fraud.

WireFraud Manager quarantines suspicious wire transactions in real-time, based on a set of comprehensive filters involving both behavioral and transactional analysis.  WireFraud Manager will automatically look at the profile of the wire sender to make sure that each new transaction is aligned with what the customer is expected to do.  This will allow the financial institution to review a suspicious wire transfer request before it is processed and prevent a potential fraud loss to the customer's account.

"Wire fraud is a clear and present danger in modern banking.  It's not just the monetary loss when a fraudster attacks your institution.  Allowing a fraudster to attack creates reputational loss in the community and diminishes shareholder value in the institution," said Daniel Cho, founder and CEO of Banker's Toolbox.  "WireFraud Manager is designed to protect community financial institutions from this risk.  By screening all outgoing wire transfers using behavioral profiles, we provide community financial institutions with sophisticated yet intuitive tools to combat wire fraud."

"Wire transfers are a risky activity.  We want to make sure we're mitigating that risk in the most appropriate fashion," says Charles Douglass, Chief Information Officer at Paragon Commercial Bank.  "As community bankers, we have a fiduciary responsibility to our customers to do everything we can to protect their money while still affording them the convenience of electronic banking.  Now with WireFraud Manager, we have the ability to do that."

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About Paragon Commercial Bank
Founded in Raleigh, N.C. in 1990, Paragon Commercial Bank is North Carolina's first business-only bank with offices in Charlotte and Raleigh.  Paragon Commercial Bank provides banking products and services tailored exclusively to the needs of middle market companies with revenues from $5 million to $100 million, their executives, and high net worth individuals.  For more information, please visit www.paragoncommercial.com.

About Banker's Toolbox, Inc.
Austin, TX-based Banker's Toolbox, Inc. helps community financial institutions manage risk and streamline compliance examinations.  The company's product suite consists of proven solutions for money laundering detection and reporting, risk management through fraud and kite prevention, secure wire processing automations, and commercial real estate loan portfolio risk assessment.  The Banker's Toolbox team is a unique combination of seasoned bankers and information technology consultants who specialize in designing, developing, and implementing risk management solutions while providing unparalleled customer service.  For more information, visit the company's website at www.bankerstoolbox.com.