Triumph Bancorp, Inc. announced 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."
Triumph Bancorp, Inc. is a financial holding company headquartered in Dallas, TX. 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.