Triumph Bancorp Launches TriumphX

Rhea-AI Summary

Triumph Bancorp (Nasdaq: TBK) has launched TriumphX, a new business unit aimed at enhancing its role as a transportation fintech company. This division, led by Matt Levy, will support Triumph's strategy by adding technical talent and streamlining payment processes within the transportation sector through its platforms, TriumphPay and Triumph Business Capital. The CEO emphasized the need for innovation in payments, marking a significant step towards transforming the industry's cash-flow management.

Positive

• Launch of TriumphX to support transportation fintech strategy.
• Appointment of Matt Levy as President to lead TriumphX.
• Focus on innovative payment solutions for the transportation industry.
• TriumphPay enables seamless payment transactions for carriers and brokers.

Negative

• None.

Matt Levy Joins to Lead New Business Unit

DALLAS, April 05, 2022 (GLOBE NEWSWIRE) --  Triumph Bancorp, Inc. (Nasdaq: TBK) announced today the establishment of TriumphX, a business unit charged with supporting the execution of Triumph's plan and evolution as a transportation fintech company. TriumphX is a division of TBK Bank, SSB, the primary operating subsidiary of Triumph Bancorp.

"We see massive opportunities to reshape the future of payments in transportation," said Triumph Bancorp chief executive officer Aaron P. Graft. "As I mentioned in our annual shareholder letter, the execution of our vision requires additional technical talent to join our ranks. TriumphX will be one gateway to meet that need. In addition, TriumphX will evaluate concepts and ideas for our transportation fintech lines of business, TriumphPay and Triumph Business Capital. The TriumphX team will support the line of business project teams, increasing their capacity and accelerating the execution of critical technology-based projects."

TriumphPay, a division of TBK Bank, recently announced a significant milestone in the buildout of the transportation industry's first payments network, enabling seamless payment transactions for carriers, brokers, shippers and factors. Triumph Business Capital, a subsidiary of TBK Bank and a leading provider of working capital financial solutions, provides leading-edge, data-driven automation solutions for its factoring clients.

With the formation of TriumphX, Matt Levy has joined to serve as its President. Before joining Triumph, Levy served as the founder of Credera, a full-service management consulting and technology firm with clients ranging from Fortune 1,000 companies to emerging industry leaders. During his tenure, the company was recognized as an Inc 5000 growth company for seven consecutive years and as a "Best Place to Work" company by various third parties for ten straight years. Omnicom acquired Credera in 2018.

Graft commented, "Matt is a people-first leader. He has proven himself as a consultant, technical expert and business owner. His leadership and experience will help us add to our ranks, and better prepare us for an exciting future."

"Triumph is a dynamic organization that is actively developing sophisticated and leading-edge technology solutions for the transportation sector," said Levy. "The establishment of this new business unit, with responsibility for supporting the execution of this strategy, underscores Triumph's commitment to being the leader in this space. This is an amazing opportunity for our team members. I am excited to build out an agile, collaborative working group to support the project teams within Triumph Business Capital and TriumphPay."

For more information on career opportunities, visit: www.triumphx.co

About TriumphX

TriumphX works to revolutionize payments and cash-flow management for the transportation industry. With a vision focused on innovation and a purpose to help the transportation industry triumph, TriumphX creates and scales services and solutions that provide the industry with speed, efficiency and friction-free capabilities. www.triumphx.co

About Triumph Bancorp, Inc.

Triumph Bancorp, Inc. (Nasdaq: TBK) is a financial holding company headquartered in Dallas, Texas, offering a diversified line of payments, factoring, and banking services. Triumph's carrier payment platform, TriumphPay, connects brokers, shippers, factors, and carriers through technology aimed at helping each party successfully process, settle, and manage carrier payments and drive growth. As a provider of invoice factoring solutions, Triumph Business Capital helps transportation and logistics companies manage cash flow. Triumph's banking subsidiary, TBK Bank, offers consumer, business and commercial banking products and services. Triumph also provides asset based lending and equipment financing solutions for small to mid-sized businesses through Triumph Commercial Finance and insurance solutions for the transportation industry through Triumph Insurance Group.

TriumphX is a division of TBK Bank, SSB. TriumphPay is a division of TBK Bank, SSB. Advance Business Capital LLC d/b/a Triumph Business Capital is a subsidiary of TBK Bank, SSB. Triumph Commercial Finance is a division of TBK Bank, SSB. Triumph Insurance Group, Inc. is a subsidiary of TBK Bank, SSB.

https://www.triumphbancorp.com

Media Contact:
Amanda Tavackoli
SVP, Director of Corporate Communication
atavackoli@tbkbank.com
214-365-6930

Investor Relations:
Luke Wyse
SVP, Finance & Investor Relations
lwyse@triumphllc.com
214-365-6936

FAQ

What is TriumphX and its purpose?

TriumphX is a new business unit established by Triumph Bancorp to support its evolution as a transportation fintech company, focusing on payment solutions.

Who is leading TriumphX?

Matt Levy has been appointed as the President of TriumphX, bringing extensive experience from his previous role at Credera.

How will TriumphX impact Triumph Bancorp's operations?

TriumphX aims to enhance Triumph Bancorp's capacity to execute technology-based projects, specifically in the transportation sector.

What are TriumphPay and Triumph Business Capital?

TriumphPay is a payment platform connecting carriers, brokers, and shippers, while Triumph Business Capital provides working capital solutions for the transportation industry.

When was TriumphX officially launched?

TriumphX was officially launched on April 5, 2022.