Mainebiz

V O L . X X I N O. I V after it opens a branch in Ogunquit, will have branches from York to Houlton. "We are continuing expansion and growth in this [southern Maine] market," he says. e bank expects to add about two branches a year with five employees each going forward. "And younger people using the bank are continuing to grow, so we are keeping pace with technology, security and taking care of data." Mobile banking, for example, represented three times the transactions at branch teller stations, and this year it hit million mobile transactions a month, with the service having started only months ago, according to Yellow Light Breen, executive vice presi- dent and strategic officer at the bank. Visits to rural branches are decreasing, while "visits" to the bank from mobile phones and tablets are on the rise. "e frequency of mobile use is more than times a month, which is high," Breen says. "We spent a lot on monitoring on our side, millions of dollars in the past couple years. Our application is secure." He said three to four people in Bangor monitor transactions flagged as unusual. e bank uses software that can look for abnormal account use patterns and issue an alert. e bank is rushing to include new microchips to detect fraud in its credit cards, and later in its debit cards. MasterCard and Visa are pushing for the chips, which are used commonly in Europe, to be embedded into cards. e credit card companies want retailers and banks to change their card readers to accommodate the new chips by this October. Bangor Savings is working on its ATMs and services, and expects to have a pilot for the cards completed by the end of this year, and comply with the new technology sometime next year. P H O T O / JA S O N P. S M I T H Old bank, new times Bangor Savings strategy calls for southern expansion and new technology Bangor Savings Bank 99 Franklin Street, Bangor Founded: 1852 President: Bob Montgomery-Rice Services: Retail banking, investment management, payroll, other Branches: 57 (including a planned April opening in Ogunquit) Employees: 720 Assets: More than $3 billion Contact: bangor.com (207) 942-5211 Bob Montgomery-Rice, 49, the new president at Bangor Savings Bank, is part of a wave of new banking leaders in Maine. He will add the CEO title in April. » C O N T I N U E D F R O M C O V E R F E B R UA R Y 2 3 , 2 0 1 5 16

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