Orum and MX Enable Real-Time Money Movement and End-to-End Payment Solutions for Fintechs

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Nov 02, 2022, 08:00 ET

Partnership brings together smart-routing, multi-rail payments solutions and instant account verifications

NEW YORK and LEHI, Utah, Nov. 2, 2022 /PRNewswire/ -- Orum, an intelligent all-in-one payments platform, today announced a strategic partnership with MX, a leader in Open Finance, to deliver secure end-to-end payments flow and intelligent, real-time money movement for fintechs. Orum's unified money movement application programming interface (API) and MX's instant account verification (IAV) and balance check capabilities enable instant payments in any direction, any time.

Orum and MX Enable Real-Time Money Movement and End-to-End Payment Solutions for Fintechs

"More than ever, fintechs and verticalized payments companies are looking for innovative solutions that automate and simplify money movement, from unlocking instant and risk-mitigated on and off ramps, to optimizing the customer experience through instant availability of funds and payouts," said Rouzbeh Rotabi, Chief Revenue Officer at Orum. "By partnering with MX, Orum is further enhancing the ability to offer the best experience for developers who value simplicity and security, and end-customers who want instant funds availability."

Orum and MX's partnership will facilitate fintechs' ability to seamlessly implement innovative money movement and payments functionality within their applications. Orum's unified money movement API uses proprietary payments intelligence to manage risk and orchestrate complex, multi-rail transfers, while MX's IAV and balance check capabilities make it easy to verify and aggregate consumers' financial information fast and securely.

"Orum offers fintech and financial institutions access to smarter, simpler, and faster payments," said Raymond den Hond, Executive Vice President, Channel Partnerships, MX. "MX and Orum's shared commitment to enabling best-in-class financial experiences and outcomes through cutting-edge platforms makes this a natural partnership. We are excited to grow and expand our capabilities together to meet the most pressing needs of fintechs and payments companies."

For more information on Orum and MX's efforts to bring frictionless, low-risk money movement to fintechs and financial organizations, please visit www.orum.io.

To learn more about how to become an MX partner, please contact [email protected].

About Orum

Orum is an intelligent all-in-one payments platform that unlocks instant, intelligent money movement in any direction with a single API. Powered by proprietary payment intelligence, Orum optimizes transactions for speed, cost, and risk, enabling intelligent routing across multiple rails – revolutionizing how consumers and businesses send, receive and access money. Orum's vision is to power a better financial system where everyone has the freedom to build to their potential.

The Orum team is helmed by expert fintech operators from LearnVest, Marqeta, N26, Square, Bread and Stash and has raised over $82M from leading investors, including Accel, Canapi, Bain Capital Ventures, Inspired Capital, Homebrew, Acrew, BoxGroup, Clocktower Ventures, Primary Ventures, SVB Capital, and American Express Ventures. To learn more, visitOrum.io.

About MX

MX Technologies, Inc., a leader in Open Finance, helps organizations everywhere connect to the world's financial data and turn raw, unstructured data into their most valuable asset to deliver intelligent and personalized money experiences. MX connects more than 13,000 financial institutions and fintechs providing the industry's most reliable and secure data connectivity network. Additionally, MX powers 85% of digital banking providers, as well as thousands of banks, credit unions, and fintechs, with a combined reach of over 200 million consumers. To learn more follow us on Twitter and LinkedIn @MX or visit www.mx.com .

Contact: Tom Cook, [email protected]

SOURCE MX