“Can a specialist, non-lending correspondent institution replace fragmented bank-chain clearing for fintechs and mid-market banks?”
Founded in 2023 as Fuse by former BVNK co-founder George Davis and CTO James Smith, the company rebuilt the correspondent clearing stack as a specialist, non-lending function on a 100% reserve model. Rebranded to Lorum in late 2025. In April 2026 it filed with the US OCC for a national trust charter so it can offer fiduciary clearing in USD without taking on lending — a direct bet that specialist clearing can displace fragmented correspondent-bank chains for fintechs, PSPs, digital-asset platforms and mid-market banks.
Lorum discloses Lorum (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Lorum does not disclose a bank charter of its own; its banking services are provided through Lorum (in-house).
Lorum processes payments through Lorum (self-operated clearing). Disclosed money-movement rails: ACH, Fedwire, SEPA Instant, SEPA and Faster Payments.
Lorum uses Lorum (self-operated) for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 5 layers in Lorum's stack: Payments / PSP (Lorum (self-operated clearing)); Money movement (ACH, Fedwire, SEPA Instant, SEPA and 1 other); Banking / BaaS (Lorum (in-house)); FX & payouts (Lorum (self-operated)); Treasury (Lorum (self-operated) and Lorum (self-operated, 4.35% APY on idle balances)).
Lorum was founded by George Davis and James Smith and is founded in 2023, headquartered in New York, New York, United States.
Lorum has raised $6.6M (disclosed) in total (latest round: Seed).
Get a read on where your own stack stands against Lorum and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.