Ascent Global Logistics Joins the TriumphPay Network to Enhance Carrier Payments
TriumphPay announced that Ascent Global Logistics has joined the TriumphPay Network as a full audit and payments participant. This partnership aims to provide a more streamlined payment experience for Ascent's carriers, initially in their brokerage business segment with plans to expand. The addition of Ascent marks a significant milestone in TriumphPay's network growth, which saw $51.3 billion in unique brokered freight transactions in Q2, approaching 50% of the freight market.
Jack Korslin, CFO of Ascent, emphasized the importance of carrier success to their customer service. Aaron P. Graft, CEO of Triumph Financial, highlighted the critical role of adding new brokers in achieving long-term goals and enhancing the network's efficiency and value for all participants. TriumphPay's solutions focus on improving operational efficiency, financial transparency, and fraud mitigation for freight brokers.
TriumphPay ha annunciato che Ascent Global Logistics è entrata a far parte della rete TriumphPay come partecipante completo per audit e pagamenti. Questa partnership mira a fornire un'esperienza di pagamento più snella per i vettori di Ascent, inizialmente nel loro segmento di business brokering, con piani per espandere questa collaborazione. L'aggiunta di Ascent rappresenta un traguardo significativo nella crescita della rete TriumphPay, che ha registrato $51,3 miliardi in transazioni di spedizioni uniche nel secondo trimestre, avvicinandosi al 50% del mercato dei trasporti.
Jack Korslin, CFO di Ascent, ha sottolineato l'importanza del successo dei vettori per il loro servizio clienti. Aaron P. Graft, CEO di Triumph Financial, ha evidenziato il ruolo cruciale dell'aggiunta di nuovi broker nel raggiungimento degli obiettivi a lungo termine e nell'ottimizzazione dell'efficienza e del valore della rete per tutti i partecipanti. Le soluzioni di TriumphPay si concentrano sul miglioramento dell'efficienza operativa, della trasparenza finanziaria e sulla mitigazione delle frodi per i broker di spedizioni.
TriumphPay anunció que Ascent Global Logistics se ha unido a la red TriumphPay como participante completo en auditorías y pagos. Esta asociación tiene como objetivo proporcionar una experiencia de pago más fluida para los transportistas de Ascent, inicialmente en su segmento de negocio de corretaje, con planes de expansión. La incorporación de Ascent representa un hito significativo en el crecimiento de la red de TriumphPay, que vio $51.3 mil millones en transacciones únicas de carga en el segundo trimestre, acercándose al 50% del mercado de transporte.
Jack Korslin, CFO de Ascent, enfatizó la importancia del éxito de los transportistas para su servicio al cliente. Aaron P. Graft, CEO de Triumph Financial, destacó el papel crucial de añadir nuevos corredores para lograr objetivos a largo plazo y mejorar la eficiencia y el valor de la red para todos los participantes. Las soluciones de TriumphPay se centran en mejorar la eficiencia operativa, la transparencia financiera y la mitigación del fraude para los corredores de carga.
TriumphPay는 Ascent Global Logistics가 TriumphPay 네트워크에 전면 검사 및 결제 참가자로 합류했다고 발표했습니다. 이 파트너십은 Ascent의 운송업체를 위한 보다 간소화된 결제 경험을 제공하는 것을 목표로 하며, 초기에는 중개 비즈니스 분야에서 시작하여 확장할 계획입니다. Ascent의 추가는 TriumphPay 네트워크 성장의 중요한 이정표로, 2분기에 독특한 중개 화물 거래에서 513억 달러를 기록하며 화물 시장의 50%에 가까워졌습니다.
Ascent의 CFO Jack Korslin은 운송업체의 성공이 고객 서비스에 얼마나 중요한지를 강조했습니다. Triumph Financial의 CEO Aaron P. Graft는 새 중개인을 추가하는 것이 장기 목표 달성과 네트워크의 효율성 및 모든 참가자에게 가치를 향상하는 데 얼마나 중요한 역할을 하는지를 강조했습니다. TriumphPay의 솔루션은 화물 중개인을 위한 운영 효율성, 재정 투명성 및 사기 완화 개선에 초점을 맞추고 있습니다.
TriumphPay a annoncé qu'Ascent Global Logistics a rejoint le réseau TriumphPay en tant que participant complet aux audits et paiements. Ce partenariat vise à offrir une expérience de paiement plus fluide pour les transporteurs d'Ascent, initialement dans leur segment d'activité de courtage, avec des plans d'expansion. L'ajout d'Ascent marque une étape significative dans la croissance du réseau TriumphPay, qui a enregistré 51,3 milliards de dollars en transactions de fret uniques au deuxième trimestre, approchant 50 % du marché du fret.
Jack Korslin, directeur financier d'Ascent, a souligné l'importance du succès des transporteurs pour leur service client. Aaron P. Graft, PDG de Triumph Financial, a mis en avant le rôle crucial de l'ajout de nouveaux courtiers dans l'atteinte des objectifs à long terme et l'amélioration de l'efficacité et de la valeur du réseau pour tous les participants. Les solutions de TriumphPay se concentrent sur l'amélioration de l'efficacité opérationnelle, de la transparence financière et sur la lutte contre la fraude pour les courtiers en fret.
TriumphPay hat angekündigt, dass Ascent Global Logistics als vollwertiger Teilnehmer für Audits und Zahlungen dem TriumphPay-Netzwerk beigetreten ist. Diese Partnerschaft zielt darauf ab, den Zahlungsprozess für die Transportdienstleister von Ascent zu optimieren, zunächst im Bereich Brokerage mit Plänen zur Erweiterung. Die Aufnahme von Ascent markiert einen bedeutenden Meilenstein im Wachstum des TriumphPay-Netzwerks, das im zweiten Quartal 51,3 Milliarden Dollar bei einzigartigen Brokerlasttransaktionen verzeichnete und sich damit dem 50 % des Frachtmarktes nähert.
Jack Korslin, CFO von Ascent, betonte die Bedeutung des Erfolgs der Transportdienstleister für den Kundenservice. Aaron P. Graft, CEO von Triumph Financial, hob die entscheidende Rolle neuer Broker für die Erreichung langfristiger Ziele und für die Verbesserung der Effizienz und des Wertes des Netzwerks für alle Teilnehmer hervor. Die Lösungen von TriumphPay konzentrieren sich auf die Verbesserung der operativen Effizienz, der finanziellen Transparenz und der Betrugsbekämpfung für Frachtbroker.
- Ascent Global Logistics joins TriumphPay Network, potentially improving payment efficiency
- TriumphPay's network engagement reached $51.3 billion in Q2, nearing 50% of freight market
- Partnership expected to enhance operational efficiency and fraud mitigation for Ascent
- None.
Insights
The partnership between Ascent Global Logistics and TriumphPay is a strategic move that could significantly impact both companies' operational efficiency and market positioning. TriumphPay's network, which processed
For Ascent, joining the network should streamline their payment processes, potentially reducing costs and improving relationships with carriers. This could lead to improved service quality and customer satisfaction, ultimately benefiting Ascent's bottom line. For TriumphPay and its parent company Triumph Financial (TFIN), adding a major logistics provider like Ascent enhances the network's value proposition and could attract more participants, further solidifying its market position.
Investors should monitor how this partnership affects TriumphPay's transaction volumes and Triumph Financial's revenue in coming quarters. While the immediate financial impact may be , the long-term potential for increased market share and operational efficiencies could be substantial for TFIN, especially if it continues to onboard significant industry players.
Ascent Global Logistics' decision to join the TriumphPay Network is a significant development in the freight industry's ongoing digital transformation. By integrating with TriumphPay's payment processing solutions, Ascent stands to gain several operational advantages:
- Enhanced payment efficiency for carriers, potentially improving carrier retention and satisfaction
- Reduced administrative overhead in payment processing
- Improved financial transparency and fraud mitigation
- Access to a broader network of industry participants, potentially opening new business opportunities
The phased approach, starting with the brokerage segment and planning to expand to the entire carrier network, demonstrates a thoughtful implementation strategy. This cautious rollout allows for adjustment and optimization before full-scale adoption.
For the broader logistics industry, this move signifies a growing trend towards integrated, specialized financial services tailored for transportation. As more major players join such networks, we may see accelerated standardization of payment processes across the industry, potentially leading to reduced friction in transactions and improved overall efficiency in the supply chain.
DALLAS, Sept. 24, 2024 (GLOBE NEWSWIRE) -- TriumphPay announced today the addition of Ascent Global Logistics ("Ascent"), a leading global provider of expedited, time-critical logistics solutions, to the TriumphPay Network, as a full audit and payments participant. By joining the TriumphPay Network, Ascent is taking a significant step toward providing a more streamlined payment experience.
"At Ascent, our carriers are at the heart of everything we do, and their success directly impacts the level of service we provide to our customers,” said Jack Korslin, chief financial officer of Ascent Global Logistics. “We’re excited to begin our partnership with TriumphPay by rolling out enhanced payment solutions to our carriers in our brokerage business segment, with plans to expand to the rest of our carrier network in the near future.”
Adding Ascent to the TriumphPay Network represents another significant milestone for the ongoing growth and expansion of the network. In the second quarter, network engagement was
"We are thrilled to welcome Ascent Global Logistics to our network," said Aaron P. Graft, vice chairman and chief executive officer of Triumph Financial. "As we continue to build the density of our network, adding new brokers is critical to achieving our long-term goals. Creating density is the foundation for delivering even greater efficiency and value to our customers. With each new participant, we're enhancing the ecosystem and network effect, making it more beneficial for all participants."
TriumphPay provides innovative payment processing solutions tailored for the transportation industry. These solutions empower freight brokers to achieve heightened operational efficiency, improved financial transparency, and enhanced fraud mitigation.
Ascent joins leading, notable U.S. freight brokers on the TriumphPay Network. For more information, visit www.ascentlogistics.com and www.triumphpay.com.
About TriumphPay
TriumphPay is the premier 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
About Ascent Global Logistics
Ascent Global Logistics, headquartered in Belleville, Michigan, is a leading global provider of expedited, time-critical logistics solutions and other direct transportation services. The company connects customers to its extensive carrier network, internal ground fleet and airline via its proprietary, digital PEAK freight marketplace, which provides robust carrier capacity and transparent pricing, backed by 24/7/365 logistics experts. Ascent’s offerings include air charter and ground expedited solutions as well as truckload, less-than-truckload, global forwarding, brokerage, and managed transportation services. The experienced Ascent team solves customers’ most challenging logistics needs by providing industry-leading service and top-tier satisfaction. To learn more, visit www.ascentlogistics.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and that actual events or results may differ materially. Triumph Financial’s expected financial results or other plans are subject to a number of risks and uncertainties. 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 Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 13, 2024. Forward-looking statements speak only as of the date made and Triumph Financial undertakes no duty to update the information.
Source: Triumph Financial, Inc.
Investor Relations Contact:
Luke Wyse
Triumph Financial, Inc.
Senior Vice President, Head of Investor Relations
lwyse@tfin.com
Media Contacts:
Amanda Tavackoli
Triumph Financial, Inc.
Senior Vice President, Director of Corporate Communication
atavackoli@tfin.com
Kelli Finn
Ascent Global Logistics
Director of Marketing
media@ascentlogistics.com
FAQ
What is the significance of Ascent Global Logistics joining the TriumphPay Network?
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