Developing financial infrastructure is the main task of Prometeo Open Bankingone of the first and most notable fintech of the Uruguay, which already has international expansion. Its latest launch is a platform, which is operational, and that allows you to pay for taxis in Montevideo using a code QR that connects directly to the user’s bank account.
“We are the largest platform in Latin America, we are providing access to more than 300 APIS from 200 financial institutions in 10 countries. This APIS is basically the technological interface through which the interoperability. It is a change in how the financial sector globally,” he told Scope Ximena Alemánfounder and CEO of Prometeo Open Banking.
“We make software for the banking sector, particularly one that automates the exchange of information between financial companies. This is called infrastructure because, basically, what we create is a great highway of information and banking transactions between banking companies. We do not give a product for users but rather one that is the basis for the financial system to develop new products and services,” Alemán explained.
Regarding the impact that the fintech has on people’s lives and how this has developed rapidly in recent times, Ximena Alemán made a deep reflection for Ambit.
“I think that at the Latin American level what was seen was a first wave very focused on credit and more massive and economic access. Afterwards there was a second round very focused on what it is inclusion financial. Now what we are seeing is a third wave of fintech more focused on improving the capacity to develop these products and services for the user,” he explained.
“There are many companies doing financial infrastructure in Latin America, because it is clear that for people to have access to financial products and services, technology must be there,” he concluded.
Regarding the company’s presence in the Latin American market, the executive pointed out that Prometeo is preparing to enter Paraguay, Republic Dominican and Coast delicious in the medium term.
Regarding the advancement of open banking in the region, Alemán mentioned that each country is taking different steps, with some more advanced than others. Brazil takes the lead in America Latineven being compared with European nations.
“Brazil It really is an example in the region. Not only because of what it has taken out, but because of all the measures it is taking related to open banking and open finance. It’s incredible, they have a lot of themes and developments that are about to come out in April 2024. You don’t have much to envy of England“, he pointed.
Pay taxi by bank transfer, the latest news
The system is simple: the user scans a QR code available in the taxi, this directs them to a web page where they log in as a user of the bank of their choice, make a transfer like any other and the money arrives immediately in the account. from the transport company without having to use plastic or cash.
“In the flow it is very similar to that of Market Pay, with the only difference that, instead of making the payment with a credit card, it is made with the amount available in a bank account,” argues the CEO of Prometeo and creator of the application. This real-time payment scheme has, among its main benefits for users, avoiding dependence on cash or cards, in addition to being a faster and safer way to pay.
“This idea was founded on several reasons. First of all, there is a growing need for users to have more digital payment methods. People increasingly want to use less cash and, although the mass public handles credit and debit, the penetration is still lower than that of cash. On the other hand, in the last six years the penetration of the bank account is very great, but the penetration of payment by bank is not,” added Ximena Alemán.
Since Prometeo launched this technology in November of last year, the growth has been exponential: between 15% and 20% monthly. “The financial sector of Uruguay It is quite conservative because it is a small square and has fewer incentives to innovate. It is difficult to break those dynamics, but because it is our country, we try,” said the executive.
Source: Ambito
