Saco and Biddeford Savings Institution Selects Banker`s Toolbox for BSA Automation

Bank Uses New Software to Flag Potential Money Laundering and Fraud
NORTH HOLLYWOOD, Calif.--(Business Wire)--
Banker`s Toolbox, a provider of comprehensive solutions to help financial
institutions detect and eliminate money laundering and check fraud, announced
that Saco, Maine-based Saco & Biddeford Savings Institution ($750 million in
assets), an independently owned community bank, has implemented Banker`s
Toolbox`s Bank Secrecy Act / Anti-Money Laundering Management System (BAM) to
provide automated money laundering reporting and prevention services to its six
branches.

The bank, which uses Fidelity Information Services` MISER core processor,
selected Banker`s Toolbox because the BAM software creates a more efficient
system to protect the bank from illegal cash transactions among their branches
located in Southern Maine. BAM replaced a time-consuming, manual process that
consisted of reviewing many spreadsheets and wire reports, which left a lot of
room for manual error.

"Our bank experiences a large influx of cash transactions seasonally due to our
location near vacation areas. When we added a new branch in January, we needed
to add an automated system because BSA/AML monitoring was becoming too large a
job to do manually," said Tony LeBlanc, vice president and BSA officer for Saco
& Biddeford Savings Institution. "We will not have to keep manual logs anymore.
Time is money, and the less time our branches spend on BSA reports, the better
customer service they can provide."

BAM provides automated software to help banks in locating and countering money
laundering and other suspicious transactions. The program has the capability to
identify high-risk accounts and unusual customer transactions through real-time
and scheduled data reporting. The software also includes automated Suspicious
Activity Report (SAR) and risk report management, providing BSA officers access
to the most detailed reports available, down to individual tellers on suspicious
transactions.

"BSA/AML regulations are getting more demanding, and now is the time for banks
to put more secure, automated systems in place," said Daniel Cho, chief
executive officer of Banker`s Toolbox. "BAM enables banks such as Saco &
Biddeford to enhance their transaction monitoring and reporting while also
reducing the resources needed to maintain a high level of regulatory
compliance."

About Saco & Biddeford Savings Institution

Saco, Maine-based Saco & Biddeford Savings Institution is an independently owned
and financially sound bank with assets reaching $750 million. The bank was
founded in 1827 and provides superior financial products and services to meet
the evolving needs of its customers and communities in a customer-focused
culture. For more information, visit the bank`s Web site at
http://www.sbsavings.com/.

About Banker`s Toolbox, Inc.

North Hollywood, CA-based Banker`s Toolbox, Inc., helps banks manage risk and
streamline compliance examinations. The company`s product suite consists of
affordable solutions for money laundering detection and reporting, risk
management through fraud and kite prevention, secure wire processing automation,
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 nationwide while providing unparalleled customer service to
regional and community banks. For more information, visit the company`s Web site
at www.bankerstoolbox.com.

For Banker`s Toolbox
David Jones, 678-781-7238
or
Elizabeth Salter, 678-781-7224

Copyright Business Wire 2009