On its 2nd year, OFBank now provides financial services to Filipinos in 119 countries

Cultivating financial literacy among women serves as one of the driving goals of OFBank as seen through their pop-up stalls during Quezon City Women’s Month.

As the Philippines’ first branchless digital-only bank, OFBank has expanded its financial services to 119 other countries, empowering migrant workers, long-term travelers, and multi-generational immigrants as well as their families. As a development partner, the Bank also guides clients to make smarter decisions about their future through money management advice via online and offline financial literacy webinars.

At the core of the bank’s service is the Mobile Banking Application which enables contactless account opening, cashless payments, and immediate transfer of funds that can be done anytime and anywhere. The MBA’s current 148,000 downloads are further expected to increase as the world continues to navigate the global pandemic, such as the post-pandemic redeployment of OFWs into their host countries; the increase of their remittances; and the re-opening of borders encouraging greater travel.

Sales generated from these investment instruments contributed to the government’s pandemic recovery and resiliency programs. OFBank raised a totalfrom February 9 to March 4, 2021; Php 10.286 million through Retail Onshore Dollar Bonds from September 15 to October 1, 2021; and Php 17.485 million for RTB-26 from November 16 to 26, 2021.

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