Tranch Case Study: Billing API Success | Orum.io

Company Overview

Tranch is the invoice-to-payment delivery platform for many of the largest professional service firms in the world. Tranch helps enterprises who want to optimize cash flow get paid faster by giving their business clients a frictionless experience from invoice to payment. Tranch simplifies and accelerates invoicing and accounts receivable for services firms, software platforms, and marketplaces. In addition to invoice and AR automation, they offer a unique set of payment tools via their secure checkout system for enterprises. This includes Pay Later, which enables businesses to pay over 2 to 12 months up to $500,000, Pay Now via Orum for real-time payments, Pay by Card, and Pay by Crypto. 

Tranch’s Payments Problem

As Tranch assessed their payments and bank account verification needs, it became clear they wanted to work with a partner who aligned with their mission: getting enterprise customers launched quickly and serving their unique needs. They wanted to take advantage of the latest instant payment options — including RTP and FedNow — without having to build an integration for each rail. They also needed a way to orchestrate payments in real-time, without dealing with batches or being restricted to bulk payouts. 

“The thing that intrigued me about Orum was the ability to do line-by-line payments. One leg of a transfer can immediately kick off right after the other. We don’t have to wait for bulk, batch payouts, and now, neither do our customers,” says Philip Kelvin, Tranch’s CEO. “This experience allows customers to get their invoices seamlessly and pay them frictionlessly while enterprises experience a seamless cash application process without dissecting bulk payments.”

Tranch integrated into Orum’s Deliver API in under two weeks, allowing them to access bank-rate pricing, all major payment rails, and expanded processing windows. Tranch focused specifically on integrating RTP and FedNow into their Pay Now product, enabling businesses to offer B2B customers a secure checkout platform and get paid up to 40% faster. 

The challenges of building and maintaining multiple payment integrations were gone and now their customers get everything they need in one robust suite from Tranch. Orum powers Tranch’s instant payments and orchestrates money movement optimizing for speed and cost while providing access to the latest payment rails including RTP, FedNow, Same Day ACH, ACH, and Wires. In addition, Orum’s Verify technology gave Tranch instant bank account verification, unlocking a seamless customer onboarding experience with no microdeposits — eliminating all customer friction and minimizing fraud.

Orum’s Money Movement Solution

Orum provided four key advantages as Tranch’s payments partner:

• The ability to deliver payments 24/7, with a unique ‘Direct to Fed’ money movement solution. Tranch can access bank-rate pricing, all major rails, and expanded processing windows, making it easier to optimize payment operations. Orum’s Deliver API is built on a rare direct connection to the Federal Reserve’s payment rails as a service provider and orchestrates money movement, bringing you payment speed and flexibility.
• Leveraged instant bank account verification via Orum’s Verify API. Because it’s built on RTP and FedNow, Orum Verify brings unparalleled speed to bank account verification and provides 100% coverage of all bank accounts in the U.S., all while removing customer friction and unnecessary costs associated with traditional, flawed offerings. 
• Unlocked smart routing by using our custom-built portal and ledger to automate the process of submitting transfers that are optimized by speed and cost and tracking verifications in real-time. The portal makes it easy to reconcile balances, troubleshoot customer issues, export reports, cancel payments, search and filter, and set user management permissions.
• Offered easy set-up with fully managed compliance enabling Tranch to go live in 2 weeks and saving the $2 million it typically costs for a direct bank integration. Plus, we monitor and make sure you comply with rule changes, regulatory updates, BSL/AML regulations, audit rules, and other complex regulatory criteria. This peace of mind enabled Tranch to upgrade their payment speed, certainty, and orchestration — transforming their payment technology and offering new payment experiences that attract and monetize more customers. 

Why Orum’s Payment Solution is Better Than Direct-to-Bank

Orum’s simple API integration for fast, reliable payments provides three significant advantages over working directly with a bank. 

• Save $2 million and 2 years — that’s the typical investment required to complete traditional bank integrations. Furthermore, traditional bank systems use batch-level files and manual processes, making troubleshooting difficult and causing delays in your payment operations. With Orum’s Deliver API, you get real-time transaction-by-transaction details, enabling better monitoring, reporting, and analysis. Plus, our smart routing speeds up processing, minimizes errors and reduces reconciliation issues. 
• Accelerate the onboarding process by integrating Orum’s unified API-based solutions, allowing you to launch fast, reliable payments and instant bank account verification within a few days.
• Access all major payment rails via one solution including RTP, FedNow, Same Day ACH, ACH, and Wires. Orum's Deliver API features a rare direct connection to the Federal Reserve's payment rails as a service provider — optimizing money movement through Federal Reserve payment rails as well as via connections to additional top-tier financial partners, all to bring you payment speed and flexibility. 

Want to learn more about how Orum revolutionizes payment speed, payment certainty, and payment orchestration through unified API-based solutions? Get in touch today.