Stephany Kirkpatrick, Founder & CEO of Orum

In this episode, Mike Townsend speaks with Stephany Kirkpatrick the founder and CEO of Orum, the simplest API integration for instant payouts. A digital executive and seasoned entrepreneur with over 15 years of experience in companies across a variety of industries, from startups to Fortune 100 corporations, Stephany founded Orum in 2019 on the belief that consumers should have immediate access to their money. A CFP by training, Stephany has spent the last decade of her career building technology to optimize financial outcomes for Americans – first at LearnVest and Northwestern Mutual where she helped design its financial planning software and now at Orum where she is leading a team that is building the new financial infrastructure that allows money to move immediately and automatically across accounts, products, and financial institutions. To date, Orum has raised $82M from investors, such as Accel, Bain Capital Ventures, Homebrew, SVB Capital, and American Express Ventures. Orum's customers include a range of leading fintechs across, lending, investing, crypto and insurance, including Public.com, Coinflow (FKA Phantasia), Kalshi, Nth Round, Dots, and Ponto. 

Chapters

• 0:00 Introduction: Stephany Kirkpatrick, Founder & CEO of Orum
• 2:11 Starting Orum
• 4:23 Career Transition
• 8:51 Speed in Money Transfer is an Obvious Problem
• 13:17 The Inspiration of Building the System
• 15:22 The Real Time Payment (RTP) System
• 21:54 Being Successful in Payments Industry
• 24:36 API Integration for Instant Payouts
• 27:13 The ACH sytem being Manual
• 28:34 FedEx and UPS
• 30:27 FedNow and CBDC
• 33:07 The SVB Collapse and the Banking Industry
• 43:56 Regional Banks
• 48:00 Treasury Management
• 49:24 The benefits of having Technology layer to Distribute Money
• 53:26 A Financial Planner's Characteristics
• 55:46 How things Change in the Financial Planner's Industry?