Announces Strategic Relationship with Trax Technologies
Summary
Before his tenure with Trax, Bouk was vice president of global sales and marketing for the expense management division of Cass Information Systems.Our strategic relationship with Trax advances our journey into the shipper vertical, said TriumphPay president Melissa Forman. I am beyond excited to bring my experience from working with Trax and its team of amazing industry professionals to this dynamic TriumphPay team, while simultaneously continuing to support Trax and other partners and network participants in North America today, and in the future around the world.Wachtell, Lipton, Rosen & Katz acted as legal advisor to TriumphPay in connection with the transaction.TriumphPay is the premier payments network for freight brokers, factors, shippers and carriers in the North American trucking industry, offering a structured, secure data exchange. The TriumphPay payments network and integrated technology solutions remove friction and reduce fraud in the presentment, audit and payment of over $37 billion in transportation invoices.TriumphPay is a division of TBK Bank, SSB, Member FDIC, and a member of the Triumph Financial, Inc. (Nasdaq: TFIN) portfolio of brands.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the federal securities laws. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Risk Factors and the forward-looking statement disclosure contained in the Companys Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 15, 2023. Forward-looking statements speak only as of the date made and Triumph Financial undertakes no duty to update the information.
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