Bangor Savings Bank: Programmable Payments on Card Rails

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29 March 2023

Winner of Celent Model Bank 2023 Award for Payments Innovation


Bangor Savings Bank is a $7bn bank headquartered in Maine, US, and is innovatively expanding the capabilities of debit cards by adding programmable payments technology. This dynamic processing solution intercepts transactional authorization data and enables the cardholder to select multiple sources to fund a singular transaction. Customers can choose their checking account or third-party rewards, and anticipated in the future, a line of credit, other types of accounts, or any combination of them to pay for goods and services.

We were impressed by the Bangor Savings Bank’s ambition and powerful vision. While the bank is addressing a very specific customer challenge today, the technology they developed opens the doors for future ongoing innovation. Bangor Savings Bank demonstrates that with a strong vision and the right partners – in this case, Fiserv and PayWith, a Canada-based fintech – even a relatively small community bank can achieve breakthrough innovation and deliver a “win-win-win” solution for its cardholders, business customers, and the bank itself. That is why Bangor Savings Bank is a deserving winnner of Celent’s Model Bank 2023 award for Payments Innovation.