TriumphPay calls out achievement of first fully automated factoring payments

TriumphPay, the payment and processing arm of Triumph Bancorp, has completed its first round of what it is calling “conforming transactions,” in which the infrastructure it has built organically and through the acquisition last year of HubTran completed a fully automated “soup to nuts” factoring payment.

CEO Aaron Graft took the occasion of the company’s fourth quarter 2021 earnings call Friday to publicly disclose the transactions, which have all been done this month. He likened it in terms of...

https://www.freightwaves.com/news/triumphpay-calls-out-achievement-of-first-fully-automated-factoring-payments

Triumph’s Graft: The concept is proved; on to producing revenue at TriumphPay

With another quarter under Triumph Bancorp’s belt, CEO Aaron Graft gave the world an update on the company’s plans to dominate the processing of factored payments.

The metrics poured out during a call with analysts. While a year ago, the focus of its analyst call might have been how Triumph Business Capital, its factoring arm, was performing, now the attention is overwhelmingly on TriumphPay, its rapidly expanding operation to process factored brokerage freight. Triumph Bancorp (NASDAQ: TBK) boug...

https://www.freightwaves.com/news/triumphs-graft-the-concept-is-proved-on-to-producing-revenue-at-triumphpay

A transformed Triumph Bancorp talks its hot market and future in call with analysts

The second quarter earnings call of Triumph Bancorp (NASDAQ: TBK) was notable not so much for the financial numbers that were discussed. Rather, it served as a sort of kickoff to a company that has been radically transformed in the past year, with two key acquisitions that make the topics of discussion on such a call much different than what would have been discussed just 12 months ago.

One acquisition grew the size of the bank’s factoring book: the July 2020 purchase of the factoring business...

https://www.freightwaves.com/news/a-transformed-triumph-bancorp-talks-its-hot-market-and-future-in-call-with-analysts

Fragmented factoring business may soon shift toward larger players

A wave of change may be headed for the factoring industry, with some large, well-publicized transactions and smaller ones that don’t get headlines but are part of a possible consolidation trend.

“I anticipate over the next 24 to 36 months there will be an emergence of a handful of very large factoring nonbank lenders,” Marius Silvasan, the CEO of eCapital, said on a recent edition of the Drilling Deep podcast. “They will never be as large as banks but will be handling billions of dollars.”

Given...

https://s29755.pcdn.co/news/fragmented-factoring-business-may-soon-shift-toward-larger-players

Wall Street gives very big thumbs up to Triumph-HubTran deal

Triumph Bancorp’s (NASDAQ: TBK) acquisition of HubTran, announced late last week, has been a Wall Street winner, tacking on as much as $16 to Triumph’s share price in just three days and garnering an analyst report that called the deal “transformative.”

Triumph’s stock, which had been strong since the start of the year — rising to more than $81 pre-deal from about $47 at the start of the year — hit a 52-week high Tuesday at $96.74. That’s a 272% gain in the past year and roughly 57% in the past...

https://www.freightwaves.com/news/wall-street-gives-very-big-thumbs-up-to-triumph-hubtran-deal

HubTran is final piece for TriumphPay in buildout of a transportation payments network

TriumphPay is acquiring HubTran

TriumphPay plans to consolidate payment processes into a single, integrated platform for what CEO Jordan Graft said will be the first transportation payments network. To do that TriumphPay was missing one key element: a settlement process.

It is solving that piece of the puzzle through the acquisition of HubTran. TriumphPay, a division of Triumph Bancorp (NASDAQ: TBK), announced Wednesday after market close that it has entered into a definitive agreement to acquire HubTran, which provides...

https://s29755.pcdn.co/news/hubtran-is-final-piece-for-triumphpay-in-building-a-transportation-payments-network

Aggressive growth targets for TriumphPay laid out

With its acquisition of Covenant’s factoring business now a done deal, Triumph Bancorp’s third-quarter earnings call focused on the future, with TriumphPay a focus of its growth plans.

The overall numbers for Triumph Business Capital — the traditional factoring business at Triumph Bancorp — and TriumphPay marked significant increases over prior quarters and the prior year. While many of those numbers were first disclosed late Monday when Triumph Bancorp released its earnings, the conference call...

https://s29755.pcdn.co/news/aggressive-growth-targets-for-triumphpay-laid-out

The Daily Dash: Amazon and malls; Convoy’s big deals; and could a big deal fall through?

Amazon and Simons in talks to put fulfillment centers in stores

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, Amazon is looking at malls; Convoy pushes low-rate factoring and fuel card discounts; the deal between Covenant and Triumph hits a snag; and alternative fuel efforts continue despite high upfront costs.

Same-day delivery to the food court, please

Amazon is reportedly in talks with one of the nation’s leading mall retailers to convert old J.C. Penney and Sears locations into fulfillment centers.

Mark...

https://s29755.pcdn.co/news/the-daily-dash-amazon-and-malls-convoys-big-deals-and-could-a-big-deal-fall-through

Sale of Covenant factoring business to Triumph hits a snag

The early July deal to sell Covenant’s factoring business, Transportation Financial Solutions, has hit a snag, according to Covenant’s quarterly earnings report.

Covenant said its deal to sell the business to Triumph Business Capital is being held up because it and Triumph “are involved in a dispute related to the disposition.” The sale was going to take Covenant out of the factoring business. 

“The facts are still being gathered, and a solution that is acceptable to both companies may or may not...

https://s29755.pcdn.co/news/sale-of-covenant-factoring-business-to-triumph-hits-a-snag

Triumph’s factoring business softens in most significant metrics

Triumph Bancorp’s factoring business got noticeably smaller in the second quarter of this year, according to the earnings released by the company Monday.

Triumph’s factoring business, which is 85% transportation, saw its book of business and the size of the accounts receivable it purchased both decline. Total interest income also declined.

Factored receivable loans held by Triumph for investment purposes were reported at $561.57 million for the three months ended June 30, down from $661.1 at the...

https://www.freightwaves.com/news/triumphs-factoring-business-softens-in-most-significant-metrics

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