Deliver, Orum's new money movement API, includes a direct service provider link to the Federal Reserve's payment rails. On behalf of financial institutions, the Deliver API coordinates and optimizes the flow of money through Federal Reserve payment rails.

It is very challenging to clear the hurdle for a direct link for payment processing and settlement. Organizations must fulfill and surpass the strict standards of sponsoring financial institutions, the Federal Reserve, and contracting for IT testing in order to meet the requirements for direct access.

Many fintechs and payment platforms are dependent on their banking partner and must deal with frequent outages and technical difficulties in addition to not being able to access all potential payment rails. The Ponemon Institute estimates that organizations may lose up to $500,000 every hour due to downtime.

According to Orum's founder and CEO, Stephany Kirkpatrick, "we're thrilled to be among a small number of fintechs capable of supporting live transaction activity through the Federal Reserve's payment rails." We have been fixated on closing our clients' time to money gaps since the beginning so they can create the greatest financial products and increase access to the financial system. We are streamlining and coordinating payments to provide our financial institution clients with even faster and more dependable payments by establishing a direct connection with the Federal Reserve Bank. This enables us to provide the market unmatched payment speed and settlement assurance.

With the introduction of its new Deliver API, Orum is now able to provide longer processing windows and bank-rate pricing. The unveiling of the new API occurs just a few months after Orum developed Verify, a first-of-its-kind tool for instantaneously verifying bank accounts. The Verify API replaces existing services that rely on batched data, faulty probabilistic scoring, and outdated microdeposits. Instead, it leverages the FedNow Service and RTP and covers 100% of all U.S. bank accounts.