Oriental Bank, a subsidiary of OFG Bancorp, has collaborated with New York-based Sharenet ATMs to expand its ATM network in Puerto Rico.
The deal will increase Oriental Bank’s ATM footprint by nearly 30%, making it the second largest bank in the region.
The bank will have a total of 332 surcharge free ATM locations across the Island, of which 85 ATMs will be owned and operated by Sharenet.
Sharenet CEO Ray Davis said: "Oriental selected our ATM Participation program which allowed them to expand their network quickly, easily and cost effectively."
Sharenet’s ATM Participation program will facilitate Oriental’s internal operations by handling all of the purchasing, maintenance, balancing, communications, regulation compliance and other concerns for the newly branded ATMs.
Oriental Bank and OFG Bancorp president and CEO José Rafael Fernández said: "The expansion is another step forward in Oriental’s strategy to lead Puerto Rico with the most extensive, most convenient array of technology enhanced services."