Five years ago, I had a calling to do something with my career that was going to have a lasting impact across the financial services industry. I wanted to power a better financial system where everyone has the freedom to build to their potential.
I dreamed about solving time to money in every industry. Once I started thinking about the problem of antiquated and slow money movement I saw it everywhere. In B2B, across lending and billing, within insurance, and all over in the healthcare space. I saw it blocking supplier payments, causing issues for wage access, hindering access to emergency savings and brokerage dollars saved and earned by everyday American households.
I imagined a day when asking the question “how long will it take for the payment to get there” would be replaced by “what else can we build now that money in the US moves instantly?”
This is what fuels the vision for Orum and how, five years into our journey we have been able to transform payment technology for businesses by revolutionizing payment speed, certainty, and orchestration all through our unified API offerings.
Five years still feels like forever and nothing all at once!
We work with some of the country’s largest, most respected banks and Fortune 500 companies who leverage our technology for their customers, bringing payment speed, certainty and orchestration to the forefront of their products. We partner with Nacha, the Federal Reserve, and The Clearing House. These are notable accomplishments and still, there is much to do!
Payments infrastructure is perhaps the hardest system to change because it is so complex, entrenched, and regulated in the US. But it is so worth it. In 2023, $80T moved on the 50-year-old ACH network, which is the workhorse of the American settlement system. To put this in context, Visa moved $12T in total payment volume (TPV) annually around the world in 2023 — meaning the magnitude of transforming the technology for bank transfers in the US alone is 6x larger than Visa’s global volumes today. That kind of impact is worth getting out of bed for!
Today, we are at “base camp” on our climb to the summit and my personal “why” has never been stronger as I look ahead. My dream from five years ago is already becoming a reality and I know with the incredible team we have, everything we want to accomplish is possible.
Happy Birthday, Orum. 🥳