Orum provides a unified API that enables businesses to execute fast payments through various channels, including FedNow, RTP, Same Day ACH, ACH, and Wires, while also offering instant bank account verification for all U.S. accounts. This technology streamlines payment operations, reduces integration costs, and enhances transaction speed, allowing companies to improve cash flow and customer satisfaction.
Funding
$82.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses face challenges with slow and fragmented payment processes, leading to delayed cash flow and increased operational costs. Integrating with multiple payment rails and ensuring compliance adds further complexity and expense. Traditional bank account verification methods also introduce friction and delays.
Solution
Orum provides a unified API that streamlines payment technology for businesses, offering solutions for payment speed, certainty, and orchestration. The platform enables businesses to execute fast payments through various channels, including FedNow, RTP, Same Day ACH, ACH, and Wires. Orum's technology also features instant bank account verification, covering 100% of U.S. bank accounts, ensuring user control and validating account ownership. The Deliver API is built on a direct connection to The Federal Reserve’s payment rails as a service provider. Additionally, Orum offers a custom-built portal and ledger for orchestrating and optimizing payment operations, tracking money movement and verifications in real-time.
Target Audience
Orum primarily serves businesses across various sectors, including billing, lending, disbursements, brokerage, and creator platforms, seeking to optimize payment processes and accelerate cash flow.
Features
- Unified API for accessing multiple payment rails: FedNow, RTP, Same Day ACH, ACH, and Wires
- Instant bank account verification covering 100% of U.S. bank accounts
- Direct connection to the Federal Reserve's payment rails
- Custom-built portal and ledger for real-time monitoring and reconciliation
- Automated payment orchestration optimizing for speed and cost
- No-code solution for instant payments and ACH transfers
- Flexible APIs that meet evolving, changing needs