Payments Technology Leader Orum Launches ‘Monitor’ – The First-Ever Payments Portal Purpose Built To Optimize & Orchestrate Payment Operations For Enterprise Businesses

The Transformative Portal Solves The Complexity of Money Movement In The U.S. – Enhancing Oversight, Lowering Costs and Driving Efficiency

‘Monitor’ Tracks Transfers and Bank Account Verification In Real-Time With One-Click Solutions To Schedule Payments, Verify Accounts, Build Custom Insights, & More

NEW YORK--(BUSINESS WIRE)--Orum, the innovative fintech that transforms payment technology for businesses by revolutionizing payment speed, certainty, and orchestration, today announced the launch of Monitor, the first payments portal purpose-built to optimize and orchestrate payment operations for enterprise businesses.

Orum’s transformative solution – a web-based platform built expressly for B2B payments teams – removes the considerable complexity typically associated with payment operations.

With Orum’s Monitor, payment operation teams are able to leverage Orum’s money movement solution, Deliver, and bank account verification solution, Verify. Thanks to Monitor, the pay ops teams no longer require extensive technical training to manage transfers and bank account validation or additional support from business analysts to gain actionable data insights.

With Orum’s Monitor payments portal, businesses will be able to:

• Optimize and orchestrate money movement: Smart routing makes it easy for payment operations teams to transfer money at their preferred speed and cost, instead of being forced to select specific rails (i.e. RTP, FedNow, Same Day ACH, ACH, wire, etc.)
• Track transfers and verifications in real-time: The custom-built ledger displays live data on money movement and bank account validations, including interactive charts, and data drill-downs.
• Unlock no-code solutions: The portal features no-code versions of Orum’s money movement and bank account validation APIs – allowing companies without immediate engineering resources to take advantage of Orum’s money transfer and bank verification offerings before writing a single line of code.
• Leverage one-click automation: Schedule, send, and cancel payments; view payment statuses; reconcile balances; set team permissions; customize reports; export data, and track trends, all via a single click.
• Transform customer solutions: Troubleshoot user issues and utilize advanced search and filtering to find unique transactions, people, businesses, and accounts.
• Customize features and permissions: Create personalized alerts triggered by custom parameters (e.g. FBO balance limits, monthly transfers by speed, failed transfers with specific reason codes, etc..) and set user permissions to manage and review actions by individuals and teams.

“We all remember how hard it was – just a few years ago – to ship packages online. Awful tools, competing shipping companies, all with confusing or excessive costs. Sending money in the U.S. is much worse - especially for businesses who have been forced to use 50-year-old technology, rely on paper checks, and build PayOps teams with dozens, if not hundreds of employees. We no longer live in that world,” said Stephany Kirkpatrick, Founder and CEO, Orum. “Now with Orum’s Monitor payments portal, businesses can easily transform their payment operations and revolutionize their payment for speed, certainty, and orchestration.”

Kirkpatrick noted that Orum’s Monitor payments portal has been piloted by payments teams at all of Orum’s customers – including Grid, Flexent, Credit Genie, Zum Rails, RepRally, and Chesapeake Bank, among many others – leading up to today’s official public launch.

“Orum’s Monitor streamlined our payment operations,” said DJ Seeterlin, President, Chesapeake Payment Systems, at Chesapeake Bank. “We track and reconcile all our transfers through the intuitive portal – and we were also able to launch instant payments without any engineering lift using Monitor’s no-code option.”

Orum’s Monitor payments portal is now available to all Orum customers: https://www.orum.io/monitor

About Orum

Orum transforms payment technology for businesses, by revolutionizing payment speed, certainty, and orchestration through unified API-based solutions. Orum’s Deliver API allows businesses to launch instant payments in one sprint or less, saving money while gaining access to RTP, FedNow, Same Day ACH, ACH, and Wires – without costly bank integrations or prolonged compliance. The fintech’s Verify API is a novel, instant bank account verification solution, allowing businesses and banks to increase payment certainty. This empowers organizations to launch new payment experiences that attract and monetize more customers.

Founded by Stephany Kirkpatrick and led by expert fintech operators from LearnVest, Square, N26, Klarna, Marqeta, and Stash, Orum has raised over $82M from leading investors, including Accel, Canapi, Bain Capital Ventures, Inspired Capital, Homebrew, Acrew, BoxGroup, Clocktower Ventures, Primary Ventures and American Express Ventures. We make money move by providing the technology and expertise required to power a better financial system where everyone has the freedom to build to their potential. To learn more, visit Orum.io.