DALLAS – September 24, 2024 – 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 $51.3 billion in unique brokered freight transactions, nearing 50% of the freight market.
“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 $51.3 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 www.triumphpay.com.
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.
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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
