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Prometeo raises $13M from PayPal, Samsung and more to bring open banking to Latin America
Open banking -- where traditional banks can share data, and build new services, by way of APIs that bring their ageing systems into the 21st century --
And its most popular services so far mirror those that have also found traction elsewhere: account-to-account payments and account validation, and (for businesses) cash management, said Aleman, who shares the CEO job with co-founder Rodrigo Tumaián. All the same, the challenges facing companies in open banking in the region are significant, starting with the fact that Latin America, overall, is well behind more mature markets like Western Europe and the U.S. when it comes to financial services. “Prometeo, with its simple single API, provides banks and financial institutions access to payments and data throughout the entirety of Latin America,” said Fady Abdel-Nour, a partner at Antler Elevate, in a statement.
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