Factoring veteran Valdez tapped to lead factor vertical of the payments network for trucking
Dallas – Sept. 28, 2021 – TriumphPay, a division of TBK Bank, SSB, announced today the appointment of Tim Valdez as senior vice president, factor leader. In his role, Valdez will drive the strategy, vision, and growth supporting TriumphPay’s factor vertical.
“With our mission to provide frictionless presentment, audit and payment for all participants, including brokers, shippers, carriers and factors, Tim will ensure the wants and needs of factoring companies continue to be integrated into our platform,” said Ed Schreyer, president and chief operating officer of TriumphPay.
Mr. Valdez joins TriumphPay from WEX Fleet One Factoring, where he managed the daily operations of the recourse and non-recourse transportation factoring portfolio, including the supervision of sales, operations, cash application, collections, underwriting, and credit. He joined WEX in 2019 when the company acquired Pavestone Capital, a recourse factoring company that Mr. Valdez co-founded to serve small and middle-market transportation and commercial businesses. Prior to founding Pavestone Capital in 2012, Mr. Valdez served as the chief lending officer for Transportation Alliance Bank.
“I’ve had the pleasure of knowing Tim for several years,” said Aaron P. Graft, co-founder, chief executive officer and president of TBK Bank. “He brings years of experience across multiple factoring companies and deep industry knowledge and leadership that will be invaluable as TriumphPay serves the needs of factoring companies utilizing our payments network for trucking.”
Valdez said, “TriumphPay’s end-to-end payments network will transform the way payments are processed for trucking, building a bridge between brokers and factors. I am excited to take my experience in leading a factoring business to now supporting the factoring industry with this innovative new platform.”
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About TriumphPay
TriumphPay is the payments network for freight brokers, factors, shippers and carriers in the US trucking industry. Its forward-thinking solutions help each party successfully process, settle and manage carrier payments and drive growth. TriumphPay offers supply chain finance to brokers, allowing them to pay their carriers faster and drive carrier loyalty. TriumphPay provides tools and services to increase automation, mitigate fraud, create back-office efficiency and improve the payment experience.
TriumphPay is a division of TBK Bank, SSB, Member of FDIC, and a member of the Triumph Bancorp, Inc. (Nasdaq: TBK) group. Triumph Bancorp is a financial holding company with a diversified line of banking, payments, and factoring services.
Investor Relations:
Luke Wyse
Senior Vice President, Investor Relations
lwyse@triumphllc.com
214-365-6936
Media Contact:
Amanda Tavackoli
SVP, Director of Corporate Communication
atavackoli@tbkbank.com | 214-365-6930
