Triumph Financial enters strategic relationship with Trax Technologies

Triumph Financial’s TriumphPay and Trax Group announced a strategic relationship in which TBK Bank, SSB d/b/a TriumphPay has made a $9.7M minority investment in Trax, a global provider of transportation spend management solutions. Additionally, Trax will be integrating with the TriumphPay payments network, enabling Trax to offer enhanced payment solutions as part of its transportation spend management platform. Josh Bouk, the former president of Trax, will join TriumphPay as executive VP, chief partnership officer. In this new role, Bouk will lead TriumphPay’s approach to the shipper market, developing and growing strategic ecosystem alliances. Bouk joins TriumphPay with over 20 years of experience as a proven executive leader in providing expense management and payment solutions at the global enterprise level. Before his tenure with Trax, Bouk was vice president of global sales and marketing for the expense management division of Cass Information Systems.