Funds are transferred daily to institutions bank accounts via ACH or incoming wire. Flywire does not hold them. Rather, the funds are sent as soon as Flywire receives them. The streamlined process should improve your cash flow, and your institution will likely pick up at least one extra float day.
Please also note that your institution will receive the funds daily in a lump sum with a posting file to tie it off for easy upload. This lump sum provides an additional cost-saving benefit: as opposed to facing multiple fees institution´s tend to receive during peak times, you will incur one ACH or wire fee.