Orum and Creatively Enable Same-Day Payouts for Creatives with CreativelyPay

BY Katie Posocco

| July 7, 2021

How we’re teaming up to empower creative professionals—and the brands that rely on them

From designers and photographers to writers and filmmakers, creatives represent a growing share of the U.S. workforce. A recent report from the National Endowment for the Arts found that creative professionals contribute $919.7 billion to the economy—more than agriculture, construction, or transportation. And roughly 34% of them—or 3.6 times the national average—are freelancers.

Orum is excited to partner with Creatively, a job platform that provides creatives with the tools they need to forge a successful career. Creatively helps them find meaningful work by making it easy to share their portfolios and network with a vast client community of brands and studios.

This fall, Creatively will launch CreativelyPay, a first-of-its-kind payments feature that makes eligible same-day payouts possible—powered by Orum’s money movement product, Momentum.

“Orum was built on the mission to provide smart, real-time and fully-automated money movement, enabling Americans to have instant access to their own liquidity. Utilizing our machine learning-backed APIs, Foresight and Momentum, we’re able to help enterprises simplify complex financial processes and intelligently move money. Thanks to CreativelyPay, countless creatives working in freelance gigs across the nation will no longer have to wait to access the money they have already earned.”

Orum’s Founder and CEO Stephany Kirkpatrick

How it works

Currently, once a creative accepts a job through Creatively, they handle the details of their contract and invoices off-platform with the hiring company.

But—since companies can take 30 days or more to process vendor payments, and ACH transfers like direct deposits can take another 3 to 5 days to clear—a creative may wait up to 50 days to actually be paid for their work.

Inefficient and unpredictable payment systems are a pain point for creatives and the companies they work for. That’s why Orum and Creatively are working together to streamline the process.

“This is a real problem that hurts millions of creatives,” says Creatively’s CEO, Gregory Gittrich. “I’ll never forget selling my 35mm camera as a young writer, just so I could pay rent while waiting for my payments to clear. More and more creatives are working as freelancers because of the gig economy and the pandemic, and they deserve to be paid as quickly as possible. Our partnership with Orum is the solution.”

With CreativelyPay, a creative receives a same-day payout in their bank account as soon as an eligible invoice is submitted and approved by the hiring company.

On CreativelyPay’s back end, Momentum works as a payment processing engine. Leveraging innovative machine learning and a proprietary data network, it optimizes for speed, cost, and risk across a number of common payment rails—including ACH, RTP, and eventually FedNow—and intelligently routes the transaction.

With automated, same-day payments, everyone wins:

  • Creatives get secure, accelerated access to the money they’ve earned, freeing them up to produce their art.
  • Hiring companies enjoy a consistent, hands-off AP experience, as invoices are linked and automated through Creatively’s platform. What’s more, they get access to a much larger pool of creatives, who are drawn to CreativelyPay’s fast payouts.

 

Moving forward together

Orum’s partnership with Creatively is a key step in our quest to build a frictionless financial system and unlock access to liquidity for consumers and businesses alike.

As a true innovator in the market, we’re excited to watch Creatively make a real difference in the day-to-day lives of professional creatives and to support their platform as it captivates a new generation of talent.

Try it out

Join the CreativelyPay waitlist, and be among the first to experience seamless, same-day payouts.

Want to learn more about Orum?

Learn how our vision, values, and products are rewriting the rules of money movement. Or reach out to our expert team to learn what our products can do for you.

Share this post

Share on twitter
Share on facebook
Share on linkedin
Share on email

We use cookies to improve your experience. Read more