Prometeo has enhanced its US Bank Account Verification API with a new function aimed at helping organizations evaluate the likelihood of account ownership before funds are transferred.

This feature, known as Name Match, leverages data from U.S. banking networks to compare beneficiary details provided by businesses against official account holder information via payment-rail connections.

Ownership Verification Added to Prometeo’s Verification Platform

Prometeo officials highlighted that U.S. industry bodies, such as Nacha, increasingly advocate for validation steps before initiating automated transfers. Company representatives noted that verifying the existence of an account is no longer sufficient to manage operational risks and introduced Name Match to support these expectations while maintaining streamlined processes for institutions handling high transaction volumes.

Name Match provides various outcomes including a Clear Match, Partial Match, No Match, or No Data. Businesses can integrate these results into their existing risk-assessment and payment-authorization workflows. Automatic processing is possible for clear matches, while partial matches might require manual review. Transfers can also be halted if Name Match indicates that the submitted beneficiary data does not match the account holder information from the banking network.

Prometeo stated that this capability aims to decrease payment errors, minimize exposure to fraud attempts, and reduce costs associated with ACH returns and rejected transfers. Industry surveys suggest that a substantial portion of organizations encountered attempted payment fraud in 2024, and the increase in ACH transaction volumes has sparked greater interest in enhanced pre-payment controls.

The feature operates in both real-time and asynchronous modes. Real-time rails produce ownership evaluation results within five seconds, whereas traditional login-based verification requires users to manually authenticate through third-party interfaces—this approach is deemed impractical for high-volume batch processes by the company.

Prometeo rolled out its US Bank Account Verification API in 2024 to provide businesses with a single integration solution for account verification across the United States and Latin America. The inclusion of Name Match now supports ownership-aware payment checks for onboarding, treasury, and mass-payout operations.