Triumph Bancorp posts strong second-quarter financial results while remaining “cautiously optimistic” for a relatively flat trucking and transportation market through the end of 2022.
“TriumphPay has already made substantial progress in bringing much-needed innovation to the crucial payments component of the freight industry,” said Melissa Forman, the company’s new president.
TBK Bank division wants to optimize payments and cash-flow management for the freight industry
“With TriumphPay handling payments for all stakeholders at each stage of the post-load payment journey in a secure and transparent fashion, carriers, brokers, factors and shippers will have more time to focus on other important business decisions,” said Melissa Forman, senior vice president and chief strategy officer at TriumphPay.
Triumph’s CEO Graft is not holding back, likening the automated deals to the invention of the telephone in terms of technical significance.
Triumph Bancorp CEO Graft revealed the numbers on the new factoring and brokerage companies that have signed up to the processing platform whose capabilities were bolstered earlier this year with the acquisition of HubTran.
“When we started this journey with Jordan three years ago, we defined proof of concept as becoming the largest payor in brokered freight,” said the CEO of TBK Bank.
With two significant acquisitions in the last year, the major force in factoring embarks on a new path.
The report is for a company that is about to undergo yet another change, with HubTran now in the fold.
The bank’s book of business grew at a pace that far exceeded the additional business that came with its acquisition of Covenant’s factoring operation
