Prometeo launches global trust layer for account verification

Reducing friction during the financing application process is a top priority for any merchant offering credit. Prometeo’s new 'Account Verification Boost' targets a major pain point: the lag and risk associated with verifying a customer’s bank account for payments or loan disbursements. This tool acts as a global trust layer, allowing businesses to validate account ownership and payment risk in real-time. For retailers and service providers, this means you can confirm a customer is who they say they are—and that their bank account is active—before finalizing a financing agreement or initiating a Buy Now, Pay Later (BNPL) transaction. The update is particularly useful for operators who deal with high-ticket sales or recurring payment models, such as those in home improvement or automotive services. By automating the verification of counterparties, you reduce the risk of failed ACH payments and fraudulent applications. The system provides a unified interface to check account status across different regions, which is a significant upgrade over manual document collection or waiting days for micro-deposits to clear. This speed directly translates to higher conversion rates at the point of sale, as customers are less likely to abandon a purchase when the verification step is instantaneous and invisible.

Source: Finextra — Lending

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