Orum Company Market Research Report
Company Overview
Name: Orum
Mission:
Orum transforms payment technology for businesses, revolutionizing payment speed, certainty, and orchestration through unified API-based solutions.
Founding Information:
- Founded By: No information is available
- Year Founded: No information is available
Key People:
- Stephany Kirkpatrick: Founder & CEO
- Sarah Flaherty: VP, People
- Reggie Hall: Chief Operating Officer
- Gregory Gittrich: Chief Commercial Officer
- Nik Karbelnikoff: VP, Operations
- Beny Bansil: Head of Payments
Headquarters:
No information is available
Number of Employees:
No information is available
Revenue:
No information is available
Reputation:
Orum is known for its innovative payment solutions, providing fast, reliable payments, instant bank account verification, and custom-built portals and ledgers.
Products
Deliver
Description:
Deliver is a money movement solution offering access to various payment rails including FedNow, RTP, Same Day ACH, ACH, and Wires.
Key Features:
- Bank-rate Pricing: Direct connection to The Federal Reserve’s payment rails.
- Payment Optimization: Access and orchestrate payments across all major rails.
- Expanded Processing Windows: Leverage more processing windows for increased speed and certainty.
- Easy Set Up: Fully managed compliance allowing customers to go live in 2 weeks or less.
Verify
Description:
Verify is a first-of-its-kind technology for instant bank account verification.
Key Features:
- Account Status Verification: Covers 100% of U.S. bank accounts instantly.
- Account Control Verification: Ensures the end-user has control of the account to combat fraud.
- Account Ownership Via Name Match: Validates account ownership by matching user-provided names with the bank account.
Orchestrate
Description:
Orchestrate is a custom-built portal and ledger for optimizing payment operations.
Key Features:
- Real-Time Tracking: Track transfers and bank account verifications in real-time.
- Ease of Use: Features such as balance reconciliation, troubleshooting, report exporting, payment cancellation, and user management.
- Smart Routing: API-based solutions orchestrating payments across top-tier financial partners.
- No Code Solution: Allows access to major payment rails without requiring engineering resources.
Recent Developments
New Products and Features Launched
- Deliver API: A new money movement solution built on a direct connection to the Federal Reserve’s payment rails, providing bank-rate pricing and expanded processing windows.
- Verify Enhancements:
- Detection of Debit Blocks: Reducing ACH returns.
- No Code Solution: Available as an easier integration option.
- Account Control Validation: Additional layer of security ensuring users control their accounts.
New Partnerships
- Nacha Certification: Orum has achieved Nacha certification enhancing its creditability and reliability in processing ACH transactions.
Recognition and Awards
- Article Mentions: Stephany Kirkpatrick has been recognized in several articles and podcasts for her leadership in fintech, most notably named one of the Top 20 Most Influential Women in Fintech by American Banker.
Company News
- New Hires: Addition of notable hires including Josef Pfeiffer as VP of Product.
- Social Impact: Orum’s initiatives to support diverse backgrounds and create a future of real-time payments accessible for all.
Client Success Stories
- Flexent: Enabled instant payments for truckers using FedNow and RTP.
- Tranch: Improved money movement for large professional services firms.
- RQD: Empowered innovation for broker-dealers with RTP.
- Public.com: Maintained competitiveness in the brokerage market with RTP implementation.
Press Coverage
- Increased Coverage: Regular features in publications like American Banker, Tearsheet, and Business Wire.
This report provides a comprehensive overview of Orum, highlighting its innovative approach to payment technology and its recent contributions to the fintech industry.
