Puerto Rico's Oriental Bank rolls out cardless cash app

Source: OFG Bancorp

OFG Bancorp (NYSE:OFG) today announced that its Oriental Bank subsidiary has become the first financial institution in Puerto Rico to introduce “Cardless Cash” on its mobile app.

Customers can use their mobile devices, without the use of their ATM / Debit card, to withdraw cash from the bank’s network of more than 60 ATMs across the Island. A typical transaction takes 10 seconds versus 40 with a debit card. For added convenience, the app can also locate the nearest ATM for making a withdrawal.

“Cardless Cash brings Oriental’s slogan Fácil, Rápido, Hecho (Easy, Fast, Done) to life,” said Debbie Sabater, SVP Retail Strategy for Oriental. “Today, a bank must be available at its customers’ fingertips, anywhere and anytime they need it, not a place where they have to go to get things done. As a result, another 20% of transactions previously performed in our branches are now done via Oriental’s ATM network.”

“Cardless Cash is the latest example of what we mean at Oriental when we say vive la diferencia,” said José Rafael Fernández, President and CEO of Oriental and OFG Bancorp. Other recent enhancements providing increased convenience through Oriental’s ATM network include making deposits without slips or envelopes, immediate availability of cash deposits, and deposits made before 9:00 PM credited that day.

A pioneer and leader in banking technology in Puerto Rico, Oriental has led the way with innovations such as My Status (industry-first residential mortgage loan application tracking), FOTOdepósito (photo deposit), People Pay (mobile person to person payments), and Cuenta Libre (Freedom Account, for surcharge-free access to ATMs).
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