DALLAS, Oct. 31, 2023 (GLOBE NEWSWIRE) -- TriumphPay announced today the addition of Coyote Logistics to its open payments network. The TriumphPay open payments network has rapidly expanded since its launch in January 2022, now with over 30 of the top 50 U.S. brokers as clients, creating a more secure hub for the presentment, audit and payment of invoices in the transportation industry.
"The carriers in our network play a critical role in our success as a business, so it's important we get their experience right. Whether you're an owner-operator or manage a fleet, fast and reliable payment is what keeps business moving,” said Pat Campbell, chief operating officer at Coyote Logistics. “With TriumphPay, we're making the payment process with Coyote even easier so carriers can focus more on growing their businesses."
TriumphPay touches approximately $47 billion in unique brokered freight transactions, which is a significant percentage of the market. Brokers joining the TriumphPay payments network enjoy additional layers of data insights, security and transparency through this innovative platform for the freight industry. The payments network reviews invoices more quickly and efficiently in a secure data exchange between factors and freight brokers.
"We are pleased to announce our strategic partnership with Coyote Logistics," stated Aaron P. Graft, vice chairman and chief executive officer of Triumph Financial, Inc. (Nasdaq: TFIN). "Coyote is known for its unwavering commitment to providing great service and technology to its network. This partnership within the TriumphPay open payments network signifies another significant step towards advancing the logistics industry. Together, we are poised to deliver exceptional innovation and results."
Coyote Logistics joins leading, notable U.S. transportation brokers on the TriumphPay payments network. For more information, visit coyote.com and triumphpay.com.
About TriumphPay
TriumphPay is the premier payments network for freight brokers, factors, shippers and carriers in the North American trucking industry, offering a structured, secure data exchange. The TriumphPay payments network and integrated technology solutions remove friction and reduce fraud in the presentment, audit and payment of over $47 billion in transportation invoices.
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 triumphpay.com.
About Coyote Logistics
Coyote Logistics is a leading global third-party logistics provider that has moved business forward with expertise and integrity for over 15 years. More than 15,000 shippers around the world trust Coyote to move 10,000 loads every day through their comprehensive multi-modal solutions portfolio. Data intelligence and market insights, reliable support and proprietary technology combine with these solutions to enable smarter supply chain decisions and strategies. Coyote became a UPS Company in 2015, adding new services and capabilities to their expanding solutions portfolio. Coyote is the trusted global logistics provider that empowers business growth in a rapidly changing world. For more information, visit coyote.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 15, 2023. 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, Finance & Investor Relations
lwyse@tfin.com
214-365-6936
Media Contacts:
Amanda Tavackoli
Triumph Financial, Inc.
Senior Vice President, Director of Corporate Communication
atavackoli@tfin.com
214-365-6930
Bill Theis
Coyote Logistics
Director, Brand & Content Strategy
Press@Coyote.com
