How Momentum streamlines payments, risk, and compliance in one easily embeddable API
E pluribus unum. It translates to, “out of many, one,” and it’s inscribed on most of the U.S. currency that travels across the country on payment rails like ACH, RTP, and wires.
It’s also a great analogy for Momentum, our embeddable, all-in-one money movement platform that combines rail infrastructures with a vast banking network, built-in compliance measures, and proprietary intelligence layers around smart routing and risk.
Typically, companies handle these capabilities in silos, relying on multiple third-party vendors to get them done. And while this approach checks every box, it also introduces friction and inefficiency at every turn as teams juggle different platforms, partnerships, and integrations.
Momentum unites them all in a simple, one-stop API. That means it can predict the risk of a transaction upfront and automatically route transactions along the optimal payment rail—unlocking secure, real-time liquidity for modern businesses.
Let’s take a closer look at each instrument in the Momentum toolbox and explore what bringing them together in a unified platform means for your business.
Built-in risk management
Momentum uses proprietary data networks, machine learning models, and data analytics to identify fraud and predict returns before a transfer is submitted.
Assessing these threats upfront allows the platform to weigh tradeoffs between risk and speed and route a transaction along the best possible payment rail. Payments that are deemed low-risk may be released immediately, while higher-risk transactions might have longer hold times or be suspended altogether.
Early results from our clients—including digital and legacy banks—indicate that they’ve sped up 85% of deposits to same-day transfers using Orum’s risk intelligence, compared to the typical 3 to 4 days. They’ve also seen a 40% reduction in returns due to non-sufficient funds (NSF).
Different businesses have different risk tolerance levels, different priorities, and different customer profiles, so Momentum allows you to customize the speed and amount of your transfers to meet your individual needs.
Reducing risk means avoiding penalties and protecting your bottom line against loss. By weaving Momentum’s risk management tools seamlessly into your platform and enabling easy access to liquidity, you’ll also optimize your customer experience, helping to drive brand differentiation and bolster brand loyalty.
Painless regulatory compliance
Whatever the vertical, businesses have strict laws, regulations, and guidelines they must follow when it comes to handling payments. If you’re managing them yourself, there are quite a few to keep in mind, including:
- Know-your-customer (KYC) and know-your-business (KYB) verifications
- Anti-money laundering (AML) programs, including suspicious activity monitoring
- 1099-K reporting for reportable payments
- Sanctions screenings for OFAC and BIS compliance
The good news? Momentum takes care of all these steps for you—without any additional integrations required. They’re already part of its integrated platform and can be automatically applied to every transaction.
Smart, fully automated payments
Once a transfer is approved, Momentum sends it along the payment rail that best meets your company’s criteria.
Most businesses don’t have a multi-rail program in place—and, if they do, it’s on them to negotiate the tradeoffs between risk, cost, and speed that come with each network. But with Momentum, you get smart routing that analyzes all available rails and automatically chooses the best path for each transaction, taking the guesswork out of money movement.
Momentum offers routing across major U.S. payment rails, with current and future access including:
- Push to Card
- FedNow (coming 2023)
Ultimately, growing businesses have enough on their plates without having to internally manage all aspects of moving money. You want transactions to move as quickly, safely, and effectively as possible from A to B—whichever payment rail that entails. With Momentum, you have a reliable platform that optimizes for the parameters that matter most to your business and align with your specific needs.
Momentum’s all-in-one, streamlined payments platform unlocks possibilities across different industries and use cases. For example, with access to real-time payments:
- Banks and brokerages can empower users to streamline their account funding and begin investing right away.
- Insurance companies can process and distribute approved claims to applicants in a matter of seconds.
- Business teams can avoid payment delays and penalties, recover 3 to 5 days of their working capital, and reconcile transactions in real time.
- Gig economy platforms can offer workers hassle-free, low-cost payouts at the end of every shift.
- Lenders can immediately transfer approved loans to borrowers and reduce their risk of NSFs and overdrafts during repayment.
- Personal finance firms can create and implement new tools for customers to automate their financial planning and realize their financial goals.
Facilitating payments is complicated for any organization, involving countless rules, regulations, and constantly moving parts. Until now, companies have had to integrate multiple platforms and manage numerous isolated workflows just to get it all done.
But Momentum is changing that. With a one-stop API for payments, compliance, and risk, you can ditch the pain points of money movement and focus on what matters most—your business.
Momentum’s core-agnostic platform is flexible and works across a variety of financial stacks. No matter what providers you’re working with, our products will integrate seamlessly with your existing programs and APIs. How you arrange your payment workflows is up to you. Our job is to make it easier.
How you arrange your payment workflows is up to you. Our job is to make it easier.
Stay in the loop
Looking for fast, friction-free payments? Set up a meeting with our sales team, and learn more about what smart, real-time, fully automated money movement can do for you.