Orum.io

Realtime Payments is more than a future state, it's a tool that can make a difference in people's lives today. This was a fun project to be part of. I like payments, but I really like solving problems for our customers. Our Flexent team recognized a challenge our clients experience with accessing their funds. Unfortunately, in the trucking industry its very common that many small operators rely on fuel cards to buy their groceries from a truck stop because that’s the fastest way for them to get paid for their deliveries. For these clients, the speed of money movement is critical. By leveraging our payments knowledge and strong partnerships we are able to deliver real value using #FedNow and #RTP directly to client bank accounts. Kudos to our Flexent Freight Funding, Project Management, and Chesapeake Payment Systems Teams for coming together. Thanks to our friends like Stephany Kirkpatrick, CFP® at Orum.io that innovated with us to connect modern payment systems with some of our legacy technology. Watch the full interview with Proactive Investor News here: https://lnkd.in/eNcibjBT Checkout the Flexent Freight Website here: https://lnkd.in/eXp3NTdM Flexent , Chesapeake Bank, Kevin Wood,  Jamie Johnson, CRCM, CERP, AAP Gregory Gittrich, Hunter Pawloff, Matthew Suttmiller, Melissa Hicks, PMP Rusiru Gunasena, Keith Gray, Dan Gonzalez

✨ My summer reading list: 5 book recommendations ✨ I’m a busy CEO, startup founder, and fintech leader with lots to do, learn, and read about. 🤓 But what do I most often read when I get into bed at night? FICTION. Pure, escapist fiction. 😌 When I open a book, I’m transported to a place where my mind can rest, my creativity can be refueled, and my whole self is further developed — which has a direct impact on my work, even when the books have nothing to do with #fintech or #founderlife. 🌱 With that, here are a few of my favorite fiction reads for 2024: 📕 Fourth Wing https://hubs.li/Q02G9YRb0 & Iron Flame https://hubs.li/Q02G9YZt0: Frankly, I’ve never been interested in fantasy novels. But this pair — the first two books in the “Empyrean” series — sucked me into a world of beautifully personified dragons and I can’t get enough. I can’t wait for the third book in January! 📙 Colors of the Dark: https://hubs.li/Q02G9ZCL0 This intricate, unique take on the abduction/serial killer mystery really took me by surprise. It’s as much about the process as it is about the characters; this tale covers everything from survivor guilt to the intrigue of what happened to a girl named Grace. 📔 Tomorrow, and Tomorrow, and Tomorrow: https://hubs.li/Q02G9Z0g0 I finally picked this one up after about a dozen recommendations, and it truly lives up to the hype. It’s about developing video games, but that short description belies the fascinating exploration of the theory behind game design, the difficult journey to become a creator — and why, in the end, we all crave connection. 📗 A Love Song for Ricki Wilde: https://hubs.li/Q02G9Y9X0 Sometimes, you just need to believe in what fate can bring. I’m a longtime fan of Tia Williams, and I love the fantastical, romantic, time-travel aspects of this NYC-based story that centers on a special Harlem flower shop.. 📘 Long Bright River: https://hubs.li/Q02G9Y_h0 Culled from Barack Obama’s reading list, this is a newly minted all-time favorite. It’s a page-turning police procedural that takes place in a part of Philly racked by the opioid crisis, and full of wild twists I never could’ve predicted. I’ve read 38 books so far this year and I’m always looking for more — please drop your beach reads and book recs in the comments! 👇 #readinglist #summerreading #reading

Innovators: Changing your corner of the world doesn’t happen overnight. 🌃   The world-changers, the most enduring businesses, the true innovators? They do it by nudging things along, one day at a time. 🐌   There’s no shortcut. ⏩ Building an enduring business and impactful innovation can take years — decades — and you must be in it for the long-haul. 🦥 That’s certainly how my company ⚡Orum.io ⚡and I think about faster payments. Let me paint you a picture of our beginning 👇 Orum launched in 2020, and during our fundraising process I spoke to a lot of investors about how we’d fix the “time to money” problem. ⏰ Frankly, some of them were skeptical. The Clearing House had launched Real-Time Payments in 2017, they said. RTP would fix everything, they argued. 🤷 And then I’d show them this attached slide. In 2017, the conventional wisdom was clear: All 11,000 U.S. financial institutions would be on the Real-Time Payments network by the end of 2019. 📈   …Know what the real number was in 2020, when I was pitching?   22. 😱 Not 11,000. Just 22 financial institutions were part of RTP in 2020.   Now, fast forward four years later. The industry has changed so much and faster payments are part of the mainstream conversation.   Today, still only 572 U.S. financial institutions are live on RTP. We remain far short of the 11,000 we were supposed to attain four long years ago. 📊 This tracks with what we expected. At Orum, we didn’t believe those early predictions — because we deeply believed there was a mismatch between the design of the new system and the ability for existing financial institutions to be able to use it. 🧑💻 Someone needed to create the connective tissue: a technology layer that could grant institutions and customers access to all this innovation. Something that took care of the complexity and made things just work. ✨ So we built Orum. Now, we’ve been working on this problem for four years — and as a result we’ve partnered with major financial institutions, become the folks people come to for thought leadership, and been on the forefront of innovation in faster payments. This turns into a commercial cycle that fuels our business. 💰 We benefited from seeing an opportunity before it was “real” in the market. True innovation often means being far ahead of the pack. So, innovators: Don’t get discouraged if things take longer than you expected. Keep pushing for change, one day at a time. 🧱 #innovation #PMF #timetomoney #realtimepayments #RTP

RepRally is now an official vendor for the National Coalition of Associations of 7-Eleven Franchisees! 🎉 Many new association partnerships are on the way... 🤫

Congrats to both SentiLink and Orum.io for taking home several of American Banker’s most prestigious awards this year! Naftali Harris, Cofounder and CEO of Sentilink was named Innovator of the Year for pioneering new fraud prevention technology and significantly enhancing security for the industry [ https://lnkd.in/gZeJuP-K ] and Stephany Kirkpatrick, CFP®, CEO and founder of Orum, has been named one of American Banker's 2024 Most Influential Women in Fintech. She has been instrumental in advancing inclusivity within financial services: https://lnkd.in/gM3BFak5

💡 NACHA's WEB Debit rules are here and companies are trying to find the balance between staying compliant and providing a seamless user experience. The two key considerations are: 🔍 Bank Account Validation: Originators must make sure the bank accounts they are debiting are legit (open and valid) based on Account/Routing numbers. ⚙️ User Experience: Balance compliance with a smooth user experience. Think smart, seamless verification. Historically, there have only been patchwork solutions to bank account validation. 🌐 Databases: Ping a database that stores historical, batched data to find the bank account you are trying to validate. There are coverage issues here, as no database contains 100% of US bank accounts and even the accounts it does contain may be outdated. 🔓 Open-banking: While you will get real time results here, coverage is even lower than the databases because the open-banking provider needs to integrate individually to every. single. bank. 🤦♂️ Microdesposits: 'Nuff said. That's why Orum.io released a first of its kind, patented solution - Verify. Verify can instantly verify 100% of US bank accounts leveraging real time data via the RTP and FedNow rails. Real time. 100% of coverage. No end user involvement. Checks the NACHA compliance box. #orum #compliance #nacha #rtp #fednow #fintech