OFG's Oriental Bank Launches First Mobile Check Deposit Service in Puerto Rico

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--

OFG Bancorp (NYSE: OFG) today announced that its Oriental Bank subsidiary has launched “FOTOdepósito,” enabling clients to deposit checks for free through their smartphones and tablet devices. With this, Oriental becomes the first bank in Puerto Rico to offer a mobile deposit solution, reaffirming its commitment to provide clients an accessible, simple, secure and reliable banking experience.

FOTOdepósito follows Oriental's launch in October of “Freedom Account” (“Cuenta Libre” in Spanish) – the first product in Puerto Rico aimed at the growing number of high-tech customers on the Island who like to bank via mobile phone, tablet, web, debit / credit card, or ATMs; have little need to go into a branch and use a teller; and want to avoid costly ATM withdrawal fees.

Oriental invested approximately $1.5 million to launch FOTOdepósito, including research, development and advertising. FOTOdepósito incorporates all the security measures and password encryption currently employed as part of Oriental's online banking platform. See the television commercial here.

About OFG Bancorp

Now in its 49th year in business, OFG Bancorp is a diversified financial holding company that operates under U.S. and Puerto Rico banking laws and regulations. Its three principal subsidiaries, Oriental Bank, Oriental Financial Services and Oriental Insurance, provide a full range of commercial, consumer and mortgage banking services, as well as financial planning, trust, insurance, investment brokerage and investment banking services, primarily in Puerto Rico, through 55 financial centers. Investor information can be found at www.ofgbancorp.com.