Oriental Bank, a subsidiary of OFG Bancorp, has launched a new mobile cheque deposit service, FOTOdepósito, in Puerto Rico, to allow users to deposit cheques for free through their smartphones and tablet devices.
The lender has invested around $1.5m for the research, development, advertising and launch of FOTOdepósito.
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FOTOdepósito features all the security measures including password encryption, which are similar to that used in Oriental Bank’s online banking platform.
With the launch of FOTOdepósito, Oriental Bank becomes the first in Puerto Rico to offer the service, claims the lender.
FOTOdepósito follows Oriental Bank’s Freedom Account, which was launched in October 2013, to provide an option for customers who prefer not to visit bank and perform banking operations through mobile phone, tablet, web, debit or credit card and ATMs.
Oriental Bank, along with other OFG’s subsidiaries Oriental Financial Services and Oriental Insurance, provides commercial, consumer and mortgage banking services, financial planning, trust, insurance, investment brokerage and investment banking services through 55 financial centres in Puerto Rico.
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