NASDAQ:TFIN

Trax and TriumphPay Tackle Fraud Prevention at CSCMP EDGE 2023

Retrieved on: 
Tuesday, September 26, 2023
Spend, Customer success, Fortune 1000, EST, Transport, Carbon, Trax, Risk, Council, Exhibition, Supply, Data Analytics Library, Fraud, TSM, Conference, Cryptocurrency

With U.S. business logistics costs reaching a staggering $2.3 trillion in 2022 and fraud activity increasing 57% in Q2 2023 compared to Q2 2022, transportation payments fraud is a huge area of concern for global supply chain leaders.

Key Points: 
  • With U.S. business logistics costs reaching a staggering $2.3 trillion in 2022 and fraud activity increasing 57% in Q2 2023 compared to Q2 2022, transportation payments fraud is a huge area of concern for global supply chain leaders.
  • Trax and TriumphPay are co-presenting during the Council of Supply Chain Management Professionals (CSCMP) EDGE 2023 Supply Chain Conference and Exhibition Mon., Oct. 2, 11 a.m. – 11:45 a.m. EST.
  • During the session, “Using Data & Analytics to Improve Carrier Relationships,” leaders from both companies will discuss solutions to multifaceted challenges, including transportation fraud prevention.
  • “Helping supply chain leaders become successful in mitigating payment fraud within transportation networks and leveraging various payment options leads to increased carrier satisfaction and service.”
    The Trax team is available to meet with CSCMP Edge 2023 attendees following the panel presentation at Trax booth #101.

Trax and TriumphPay Form Strategic Relationship with Investment

Retrieved on: 
Friday, June 23, 2023
Spend, Fortune 1000, SSB, Transport, Risk, Fraud, Triumph, Software, Online shopping, Trax

DALLAS, June 23, 2023 (GLOBE NEWSWIRE) -- Trax Technologies , the global leader in Transportation Spend Management solutions, today announced a minority equity investment by TBK Bank, SSB d/b/a TriumphPay, and a strategic relationship with TriumphPay, the premier payments network for freight brokers, factors, shippers and carriers in the North American trucking industry.

Key Points: 
  • DALLAS, June 23, 2023 (GLOBE NEWSWIRE) -- Trax Technologies , the global leader in Transportation Spend Management solutions, today announced a minority equity investment by TBK Bank, SSB d/b/a TriumphPay, and a strategic relationship with TriumphPay, the premier payments network for freight brokers, factors, shippers and carriers in the North American trucking industry.
  • The relationship will allow Trax’s leading global freight audit solution to integrate seamlessly with TriumphPay’s payments network, creating a highly secure payments platform for its Fortune 1000 customer base.
  • “Through this investment and relationship, TriumphPay is demonstrating our commitment to the global shipper market while extending the TriumphPay network to the globe.
  • This relationship is yet another important stone in the foundation of making TriumphPay the de facto payment rail for the entire transportation industry.”
    Under the agreement, TriumphPay, a brand of Triumph Financial (Nasdaq: TFIN) will become a minority investor in Trax, alongside Strattam Capital and Spire Capital.