Prósperos Launches Financial Platform to Empower the Latino Financial Future

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Jul 24, 2024, 10:17 ET

With the Prósperos Platform, families can provide money instantly to their loved ones in Mexico

LOS ALTOS, Calif., July 24, 2024 /PRNewswire/ -- Prósperos, a technology company that delivers a powerful financial platform for the Spanish-speaking Western hemisphere, announces general availability of its mobile financial platform. Prósperos has also onboarded its first customers– the employees of the non-profit ALAS, who help the community of Half Moon Bay, California.

Founded in 2023 by technology executives Vinay Pai and Salvador Chavez, Prósperos provides access to the modern financial system for millions of Latinos in the USA and their families in Latin America.

The Prósperos mobile solution provides two bank accounts and two cards– one for the account holder in the USA and one for their family in Mexico.
Prósperos delivers financial security by transitioning consumers from cash to a powerful banking platform that provides credit cards, direct deposit, mobile check deposit, bill pay and other banking services.
Within a few minutes of downloading the Prósperos app from the App Store or Google Play, customers can be approved for bank accounts and credit cards.
With Prósperos, customers can save up to $1000 annually on fees for check cashing and monthly remittances, and a business with 100 employees can save up to $4000 per year by switching from paper checks to direct deposit.
In 2023, families paid over $4B in fees to send money to their loved ones in Latin America. With Prósperos, families can save money and build their financial future.

"Latinos make profound contributions to the US economy through their hard work and economic spending power. Prósperos is joining the Latino movement of economic change by championing farmworkers, essential workers and consumers with financial freedom and an innovative way to send money home. Many worry about their family's livelihood, and now Prosperos gives them the comfort of being able to send money anytime and with all their love. Prósperos is bringing families together and changing lives." - Belinda Hernandez-Arriaga, CEO and Founder, ALAS.

"We are proud to serve Belinda and her dedicated team at ALAS, who have done so much for the Latino community in the Bay Area. With Prósperos, we are welcoming many hard-working consumers into the modern financial system that has previously been out of reach. Instead of paying fees to cash their checks and send money home, our low-cost solution allows our customers to save for their financial future while taking care of their families." - Vinay Pai, CEO and Cofounder, Prósperos.

"Being a first-generation Latino from a low-income family, I witnessed the struggles my family faced without access to financial services. Every dollar counts, and a service like Prósperos would have provided our family an incredible benefit," said Salvador Chavez, COO and Cofounder, Prósperos. "Today, we are seeing great demand from employers and their Latino workforces who want to transition from paper checks to direct deposit and have access to meaningful workplace benefits. Prósperos is not just offering a service. We're transforming lives by empowering our community with the financial tools they need to thrive"

About Prósperos

Prósperos' vision is to deliver a modern financial platform to 400M Spanish-speaking consumers in the Western hemisphere. By leveraging enterprise-strength financial technology and powerful AI models, Prósperos replaces costly remittances with a low-cost, fast and secure solution that also allows customers to save for their financial future.

For more information visit www.pro speros.ai

SOURCE Prosperos, Inc.