Triumph Financial and C.H. Robinson Announce Strategic Relationship
DALLAS, June 17, 2024 (GLOBE NEWSWIRE) -- Triumph Financial, Inc. (NASDAQ:TFIN) and global logistics provider C.H. Robinson (NASDAQ:CHRW) announced today a strategic relationship focused on delivering innovative payment solutions to the transportation industry.
C.H. Robinson will join the TriumphPay Network, a platform that connects brokers, shippers, factors and carriers for a streamlined payment experience. This collaboration provides the foundation for delivering new solutions and financial benefits to carriers at a scale never seen before.
"Our strategic relationship with Triumph Financial marks a significant milestone in our ongoing commitment to supporting carriers," said Michael Castagnetto, president of North American Surface Transportation at C.H. Robinson. "By joining forces, we have the ability to deliver financial payment offerings that streamline processes, improve efficiencies and foster growth with and for carriers. Together, we plan to unlock innovation that helps move the industry forward."
"We are excited to enter into this strategic relationship with C.H. Robinson, the largest freight broker in North America, starting with welcoming them onto the TriumphPay Network," said Aaron P. Graft, vice chairman and chief executive officer of Triumph Financial. "By joining the TriumphPay Network, C.H. Robinson will continue to deliver best-in-class carrier offerings and further underscore their position as a leader in the transportation industry."
TriumphPay provides innovative payment processing solutions tailored for the transportation industry, empowering freight brokers to achieve heightened operational efficiency, improved financial transparency and enhanced risk mitigation. By leveraging TriumphPay's technology, C.H. Robinson will be able to offer superior payment experiences to their carriers, automate back-office tasks and increase revenue potential through improved payment reliability and faster processing times.
About Triumph Financial
Triumph Financial, Inc. (NASDAQ:TFIN) is a financial holding company focused on payments, factoring and banking. Headquartered in Dallas, Texas, its diversified portfolio of brands includes TriumphPay, Triumph and TBK Bank.
About TriumphPay
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 Network and integrated technology solutions remove friction and reduce fraud in the presentment, audit and payment of approximately $48.9 billion in unique brokered freight transactions.
TriumphPay is a division of TBK Bank, SSB, Member FDIC, and a member of the Triumph Financial, Inc. (NASDAQ:TFIN) portfolio of brands. For more information, visit us at triumphpay.com.
About C.H. Robinson
C.H. Robinson solves logistics problems for companies across the globe and across industries, from the simple to the most complex. With $22 billion in freight under management and 19 million shipments annually, we are one of the world's largest logistics platforms. Our global suite of services accelerates trade to seamlessly deliver the products and goods that drive the world's economy. With the combination of our multimodal transportation management system and expertise, we use our information advantage to deliver smarter solutions for more than 90,000 customers and 450,000 contract carriers on our platform. Our technology is built by and for supply chain experts to bring faster, more meaningful improvements to our customers' businesses. As a responsible global citizen, we are also proud to contribute millions of dollars to support causes that matter to our company, our Foundation and our employees. For more information, visit us at www.chrobinson.com (NASDAQ:CHRW).
Source: Triumph Financial, Inc. and C.H. Robinson
Investor Relations Contact:
Luke Wyse
Triumph Financial, Inc.
Senior Vice President, Finance & Investor Relations
[email protected]
Media Contacts:
Amanda Tavackoli
Triumph Financial, Inc.
Senior Vice President, Director of Corporate Communication
[email protected]
Lauren Perry
C.H. Robinson
Senior Communications Manager
[email protected]
