Prometeo, the partner that iPiD needed in its expansion throughout Latin America

Prometeo, the partner that iPiD needed in its expansion  throughout Latin America
  1. What is IPiD?
  2. iPiD before Prometeo
  3. The integration with Prometeo
  4. After Prometeo
  5. Prometeo and Account Validation

What is IPiD?

IPiD is a technology company specialized in global payee validation services, ensuring secure and accurate financial transactions across multiple markets.

They were founded in 2021 after identifying a gap in the international transactions market, where easy, secure, and smooth processes were difficult to achieve. They are currently based in Singapore, India, Belgium, Malaysia, the Netherlands, Spain, among others; serving clients who perform international transactions, including those in Latin American territories. Their goal is to offer a comprehensive solution that helps financial institutions and companies validate bank account details worldwide, thereby reducing fraud and errors in cross-border payments.

iPiD before Prometeo

Before Prometeo, iPiD faced challenges in validating bank account information in Latin America. They identified that in countries like Brazil and Mexico, considered major remittance corridors, their clients faced issues related to failed payments, fraud, and scams due to the lack of beneficiary name verification.

As described by Samantha Bautista, Head of Products of iPiD, "The difficulty in validating bank account information in Latin America was mainly due to fragmented data sources." Thus, thanks to industry and market research, they came across Prometeo and were attracted by its reputation for providing comprehensive and reliable financial data solutions, which iPiD felt perfectly aligned with their need for accurate and efficient bank account validations.

The integration with Prometeo

Regarding the integration experience, Samantha describes it as "simple and straightforward," as they felt they had the tools any organization needs to self-integrate, thanks to clear documentation. Additionally, they highlight the work of Prometeo's support team, which was readily available to conduct multiple troubleshooting sessions, despite the teams working in opposite time zones.

After Prometeo

Thanks to the integration with Prometeo, iPiD expanded its bank account validation offering to Brazil and Mexico through the same API. In Samantha's words, "This allowed us to provide a significant solution to our clients who have a large volume of payments in these corridors and a great need for those payments to be pre-validated."

This is how Prometeo became a key partner for iPiD to ensure secure and accurate financial transactions in Latin America; as Samantha describes it: "Prometeo is a valuable partner that helped us expand our global reach for bank account validation services in the Latin American region."

Prometeo and Account Validation

As a fintech specialized in developing technological infrastructure, at Prometeo, we offer a solution that allows verifying the existence and validity of a bank account, enabling companies to verify the account holder's name and document, as well as the account type and currency type*.

Aiming to provide a global reach solution, Account Validation is cross-border, covering the markets of Latin America and the United States. This allows companies to validate information during the onboarding process or before making a payment, reducing errors and fraud.

If you want to learn more about Account Validation, contact us to show you everything our API can do to optimize your company's processes:

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