At Orum, our smart money movement platform - Deliver - initially focused on enabling instant payouts from immediate payouts for gig workers, to real-time settlement of insurance claim distributions.
Now, we are addressing the second half of the payment puzzle: account-to-account transfers (A2A transfers). This enhancement aims to simplify the process for businesses and consumers to fund accounts, such as transferring money into a brokerage account or transferring funds among an individual's various accounts.
These types of transfers can be tricky, often requiring multiple transactions to accomplish a single transfer, each using different payment rails. Deliver’s API handles all the real work around transfer orchestration on the back end. Orchestrating the multiple pieces of a transfer is hard, and managing rails is one piece but not the only piece. Even an ACH debit + ACH credit requires lots of back-end orchestration around the validation of the parties involved in the transfer and the timing of each leg of the transaction.
This means we’re automating the A2A process from end to end, removing the need for businesses to be involved in rail selection, correct timing of transfers, error handling, etc.
Let’s dive into how this works and why it could have a big impact on your business.
The complexities of account-to-account (A2A) transfers
Traditionally, A2A transfers have required companies to carry out extensive integrations with different banks and payment rails or to integrate with a simple payments API that provides access to these rails, before they can tackle coordinating the optimal set of rails for each transaction, much less managing the risk and operational overhead of each transaction. Sounds fun right? No thanks.
There hasn’t been a universal platform that takes a high-level, holistic approach to money movement. This is where Deliver comes in. We take care of coordinating between multiple rails to pull and push payments quickly and automatically through the same, single API. Plus, we power all transfers with our proprietary payment intelligence to help accelerate the transfers, so they can be delivered in as little as 60 seconds. Huge sigh of relief!
Imagine sending a package abroad with modern logistics infrastructure. Each delivery service you find runs according to a limited schedule and fixed route—some by land, some by air, some by sea. If you’re handling it yourself, you’ll have to coordinate between them all to find a way that’s swift, secure, and cost-effective.
With Deliver, there’s no need to tend to the minutiae or juggle multiple API calls, platforms, and integrations. Every aspect and leg of a transaction is handled effortlessly on the back end, so businesses can focus on their business.
Deliver: the brains behind smart money movement
Deliver takes a single A2A API request and breaks it down into two discrete segments for the debit and credit legs of the transfer.
From there, Deliver:
- Verifies and authorizes the parties and accounts involved through built-in, streamlined regulatory compliance measures
- Assesses the risk of each transfer to determine the appropriate payment rails (ACH, same-day ACH, RTP, etc.) and acceleration speed
- Tracks and manages the available balance of a business to fund transfers
- Select the optimal bank processor for the use case
- Initiates the transfers across available payment rails using smart routing, which routes transactions along the best possible course
- Handles hundreds of potential errors from payment rails/processors and clearly communicates needed actions to businesses
- In addition to the individual, transfer-level activities, Orum provides reporting and analytics to customers so they can understand their program performance and how to improve it
That means businesses can simply request an A2A transfer and trust that the orchestration of multiple, complex processes is being efficiently handled for them, while still gaining valuable insight into each transaction.
Simplified visibility into transfer status
Deliver also makes it easy to view a transfer’s status to remove the complexity for smarter money movement. Businesses can query Deliver programmatically for the status of a transfer or sign up for our real-time notifications via webhooks to learn if a transaction succeeded, failed, or is still being processed. In other words: did everything go smoothly, or is there something else they need to do? The alternative? Interpreting and normalizing 70+ status combinations to deduce an actionable top-level status.
In the event of an unsuccessful payment, Deliver provides ample context for businesses to get under the hood, painlessly troubleshoot the issue, and ensure the transfer goes through.
Power Up Your Business with Smart Money Movement
Deliver’s advanced intelligence, including smart routing capabilities, allows businesses to support a wide range of customer experiences.
For instance, crypto exchanges can help customers quickly onboard and convert fiat into crypto, acting in a fast-moving market, lenders and companies with recurring payments are working to reduce returns and manage their cash position, and neobanks face a dropoff in account openings if customers face a long wait time to fund their new accounts. In many of these cases, companies are faced with weighing speed, risk, cost, and resources, sacrificing at least one of the four. With Orum, you can unlock instant deposits with low-cost risk-managed instant payments.
Want to learn more about Orum’s smart money movement platform?
Discover how Deliver's automated, all-in-one money movement API can transform your business. Experience seamless transactions, exceptional speed, and cost-efficiency with our direct connection to the Federal Reserve’s payment rails.
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