DALLAS, Sept. 28, 2018 /PRNewswire-PRWeb/ -- TriumphPay, a leading provider of carrier and vendor payment solutions, announced today the appointment of George Lorenze to the newly created role of Vice President, North American Business Development. TriumphPay is a product offered by a subsidiary of TBK Bank, SSB, the banking subsidiary of Triumph Bancorp, Inc. (Nasdaq: TBK).
In this role, Lorenze will focus on marketing TriumphPay's financing and vendor payment solutions to businesses with significant working capital requirements in their supply chain. The position represents a strategic extension of TriumphPay's traditional focus on freight brokers and carriers to now include shippers seeking working capital improvements and vendor payment efficiencies.
"George is a highly effective leader with deep knowledge of the transportation industry and a proven track record of penetrating new markets and delivering results," said Jordan Graft, executive vice president of TriumphPay. "TriumphPay is expanding its reach to include shippers and George's background and network allow us to quickly move into that space."
Lorenze joins TriumphPay with 30 years of transportation management and supply chain experience with leading providers, including CH Robinson and BluJay Solutions. He most recently served as an executive with Data2Logistics, with business development and operational responsibilities for freight audit, payment and related professional services.
"I am excited and honored to join TriumphPay. We hold a strong leadership position in our industry, and I look forward to extending our current success into a new market," Lorenze said.
Launched in 2017, TriumphPay has paid nearly 50,000 carriers on behalf of its freight broker and shipper clients. TriumphPay has developed multiple TMS and accounting system integrations including MercuryGate, McLeod, Aljex, AscendTMS, TMW and Great Plains.
ABOUT TRIUMPHPAY
TriumphPay is a leading provider of carrier and vendor payment solutions to the supply chain industry. Its integrated supply chain finance solution allows brokers and shippers to reduce the amount of capital invested in their QuickPay program. Since its inception, TriumphPay has paid more than 50,000 carriers on behalf of its freight brokers and shippers. TriumphPay simplifies the management of carrier payments for brokers and shippers including managing verification and collection calls from factoring companies.
TriumphPay is a product of Advance Business Capital, an operating subsidiary of TBK Bank, SSB (Member FDIC). TBK Bank, SSB is a subsidiary of Triumph Bancorp, Inc. (Nasdaq: TBK), a financial holding company with a diversified line of community banking and commercial activities.
SOURCE TriumphPay
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