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FinTech BoostUP > Trending News > Banking Services and FinTech Innovations News > Prometeo Expands to the US Market

Prometeo Expands to the US Market

By FinTech BoostUP
Posted On 20 June 2024
2 minutes read
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Following the successful fundraising of $13 million Series A, Prometeo is excited to announce the expansion of business to the United States with a cutting-edge bank account validation solution. This new solution empowers global companies to verify banking information across both Latin America and the US through a seamless single integration.

Prometeo proudly introduces the launch of its Bank Account Validation (BAV) service specifically tailored for the US market. This launch marks a significant milestone as it enables Latin American businesses to connect with all US banks through a single integration with one provider and API.

The BAV service addresses various critical use cases, including:

  • Fraud and Error Prevention in Bank Transfers: BAV verifies the authenticity of US bank accounts before making transfers or payments, reducing the risk of fraud and administrative errors.
  • Payment Automation: Integrating BAV ensures that funds are sent to the correct accounts, eliminating human error and automating payments with security logic.
  • Anti-Money Laundering (AML) and Know Your Customer (KYC): BAV helps streamline compliance with KYC and AML regulations, ensuring accounts are operational and legitimate.
  • Customer Onboarding: Automatic account validation simplifies the onboarding process by confirming the authenticity of banking information from the outset.
  • Payment Method Integration: Ensuring that bank accounts added by users are valid, improving user experience, compliance, and reducing fraud.


“The addition of the US market to our robust bank account validation coverage in LatAm is a major milestone for Prometeo, and underscores our ongoing commitment to developing the infrastructure needed for global financial connectivity,” said Ximena Aleman, Co-Founder and Co-CEO. “By standardizing response structures across different regions, optimizing cost and time efficiencies, and fostering agility in market expansion, this launch strengthens our expertise in addressing the infrastructure and regulatory hurdles linked with cross-border financial integration.”

Amid the growing adoption of Verification of Payee (VoP) in the EU and UK to combat fraud, the BAV offering bolsters the movement towards payment security in Latin America and the US.

Currently, Prometeo supports BAV in seven Latin American countries, including comprehensive coverage of all banks in Mexico and Brazil. As an ISO 27001 certified platform, Prometeo monitors systems 24/7/365 to detect and analyze any security alerts, making it a trusted partner of many of the largest banks and fintechs in the region, including Bancolombia, Banco Santander, Banco de México, Banco Estado from Chile, Rappi, PayU, Monnet, VTEX, and others.